Originally a platform for distributing structured notes to broker-dealers, SIMON is adding index-linked annuities to its product suite. Prudential is both an investor and, as of today, a product provider.
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
For nimble plan sponsor advisors, 408(b)(2) and 404a-5 open new opportunities. For the less nimble, the new regulations mean job insecurity. But will fee transparency reduce fees at the expense of quality? That is the question.