What You Need to Know
- Pershing now offers fee-based annuities from 20 carriers, up from seven.
- Simon Markets may offer annuities alongside cryptocurrency-based products.
- Luma is using pricing and analytics services from Cannex.
Pershing LLC is trying to do more to help financial professionals offer annuities to their clients.
The Bank of New York Mellon Corp. unit recently announced that it’s offering more fee-based annuities, and more annuity-related support services, for registered investment advisors.
Pershing has increased the number of fee-based annuity issuers on its core menu to 20, from seven, and it’s providing some kind of access to 55 carriers. An advisor can view annuity information along with information for other portfolio holdings.
Pershing is also having insurance marketing organizations (IMOs) and brokerage general agencies (BGAs) check to see whether proposed annuity transactions appear to be suitable for the consumers involved.
In other annuity distribution news:
Simon Annuities and Insurance Services LLC is adding annuities from Nationwide to its new annuity exchange program.