Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Retirement Planning > Retirement Investing > Annuity Investing

Schwab Adds Great West VA

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, June 20, 11:15 a.m. – Charles Schwab & Company Inc., San Francisco, has introduced the Schwab Signature annuity, a variable annuity aimed at independent investment advisors as well as customers who work with its own sales reps.

Schwab also introduced a new annuity account Web site for individual investors and advisors. Clients can use the new system, powered by AnnuityNet Inc., Leesburg, Va., to buy and manage their annuities online.

“As a firm, Schwab has warned investors that high-fee, annuity products sold by brokers or insurance agents create a conflict of interest because of the large commissions they generate,” says Rob Klapper, general manager of Charles Schwab Insurance Services. “With the Schwab Signature Annuity and Schwab Select Annuity, we are bringing our client-focused approach to investing to the variable annuity product. Our new products will expand services to annuity investors and lower costs.”

The Schwab Signature Annuity is issued by Great West Life and Annuity Company of Denver, Colo.

Schwab also offers another annuity, the Schwab Select Annuity.

The Signature product comes without surrender charges, contract fees or charges for transfers, Schwab says.

The VA provides access to 30 annuity portfolios from 18 mutual fund families

Clients can apply for an annuity online and use the new annuity Web site to manage the annuity at any time of the day or night, Schwab says.

Financial advisors working with Schwab can use the annuity site to set up clients?f accounts, organize accounts, analyze data and make trades for multiple clients with a single order, the company says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.