Lincoln Financial Group has added two annuities aimed at fee-based advisors.
The Radnor, Pennsylvania-based company has started selling the Lincoln Insured Income Advisory annuity and the Lincoln Deferred Income Solutions Advisory annuity.
The Lincoln Insured Income Advisory annuity is a single-premium immediate annuity, or SPIA.
The Lincoln Deferred Income Solutions Advisory annuity is a deferred income annuity contract.
Neither product pays a commission. Both products are aimed at fee-only advisors.
Lincoln notes that it recently developed new process for handling the asset-based fees that flow to fee-based advisors from fee-based individual annuities held outside of retirement accounts. In August, the Internal Revenue Service ruled that issuers of fee-based annuities could exclude asset-based investment advisory fees from the customer’s taxable income.
Lincoln is writing the two new annuities through The Lincoln National Life Insurance Company and distributing the annuities through a broker-dealer arm, Lincoln Financial Distributors Inc.
Lincoln has also introduced a number of other annuities aimed at fee-based advisors, including variable annuities and indexed annuities regulated outside the variable product framework.
The company offers the products to registered investment advisors through a website section aimed at RIAs.
— Read Lincoln Financial Adds Indexed Annuity, on ThinkAdvisor.