Wells Fargo Launches Variable Annuity Products in Asset Advisor Program
Allianz Life, Lincoln Financial, Nationwide and Pacific Life to Distribute
CHARLOTTE, N.C. -- June 13, 2012
Wells Fargo Advisors announced the launch of the advisory variable annuity
(AVA) into the company’s Asset Advisor Program, an investment advisory
fee-based program. This will allow advisors to efficiently deliver the
benefits and guarantees that annuity products have to offer as part of the
overall portfolio management of the account.
The AVA offers a flexible and competitively priced guaranteed income option
(available at an additional charge) for clients planning retirement. The
product will provide greater fee and pricing transparency and will be
reflected in the account performance reports.
“We are pleased to be at the forefront in offering an advisory share variable
annuity,” said Ian MacEachern, Managing Director of the Advisory Products
Group at Wells Fargo Advisors. He added, “The launch of the advisory variable
annuity will provide our clients with a new alternative for investing as
Americans look to replace income in retirement years.”
This new Advisory Variable Annuity (AVA) offering provides the following
*A range of income and death benefit guarantees. (Based on the
claims-paying ability of the issuing insurance company.)
*No Contingent Deferred Sales Charge (CDSC) on the annuity contract.
Instead, an advisory fee is negotiated with the client for the Asset
*Product offerings from four insurance carriers
*Integration of annuities into performance reporting
“At a time when clients are seeking out new retirement income solutions, we
are excited to offer an AVA that will provide flexibility, along with
guaranteed income protection options within their advisory account,” said
Bernie Gacona, director of Annuities at Wells Fargo. “Furthermore, the
integration of annuities into performance reporting will provide clients a
more accurate picture of their overall investment portfolio.”
The Wells Fargo Advisory Variable Annuity will be available from the following
1. Allianz Life*
2. Lincoln Financial Group
4. Pacific Life
*Allianz Life to launch in 3Q2012
Variable annuities are sold by prospectus. Please consider the investment
objectives, risks, charges and expenses carefully before investing. A
prospectus, which contains this and other information, will be available at
the seminar or can be obtained by calling your financial advisor. Read it
carefully before you invest.
Variable annuities are long-term investments suitable for retirement funding
and subject to market fluctuations and investment risk.
Withdrawals of earnings are subject to ordinary income tax. In addition, a
federal 10% penalty may apply to withdrawals taken prior to age 59½ and
surrender charges generally apply.
Optional features are available at an additional charge.
Guarantees apply to minimum income from an annuity; they do not guarantee an
investment return or the safety of the underlying funds.
Fees for the Asset Advisor program include Advisory services, performance
measurement, transaction costs, custody services and trading. Fees are based
on the assets in the account and are assessed quarterly. There is a minimum
fee of $125 per calendar quarter to maintain this type of account. Advisory
accounts are not designed for excessively traded or inactive accounts, and may
not be suitable for all investors. Please carefully review the Wells Fargo
Advisors advisory disclosure document for a full description of our services,
including fees and expenses. Additional fees may apply in certain
circumstances. The minimum account size for this program is $25,000. Insurance
products are offered through nonbank insurance agency affiliates of Wells
Fargo & Company and underwritten by unaffiliated insurance companies.
About Wells Fargo Advisors
With $1.2 trillion in client assets as of March 31, 2012, Wells Fargo’s
brokerage businesses are comprised of 15,134 full-service financial advisors
and 3,352 licensed bankers. This vast network of advisors, one of the nation’s
largest, serves clients through offices in all 50 states and the District of
Columbia. Wells Fargo Advisors is the trade name used by two separate
registered broker-dealers and non-bank affiliates of Wells Fargo & Company:
Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC
(members SIPC). Statistics include other broker-dealers of Wells Fargo &
About Wells Fargo (Twitter: @Wells Fargo)
Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based
financial services company with $1.3 trillion in assets. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking, insurance,
investments, mortgage, and consumer and commercial finance through more than
9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and
other distribution channels across North America and internationally. With
more than 270,000 team members, Wells Fargo serves one in three households in
America. Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of
America’s largest corporations. Wells Fargo’s vision is to satisfy all our
customers’ financial needs and help them succeed financially.
Wells Fargo Retirement is a top retirement provider to retail and
institutional customers across the U.S. Wells Fargo ranks second in annuity
distribution, fifth in IRA assets and sixth in retirement record keeping. The
company also administers custody assets, provides investments and executive
benefits to institutional clients and delivers reinsurance services to global
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best
Companies to Work For in 2012, has been keeping its promises since 1896.
Today, it carries on that tradition, helping Americans achieve their
retirement income and protection goals with a variety of annuities and life
insurance products. As a leading provider of fixed index annuities, Allianz
Life is part of Allianz SE, a global leader in the financial services industry
with 150,000 employees worldwide. More than 78 million private and corporate
customers rely on Allianz knowledge, global reach, and capital strength to
help them make the most of financial opportunities.
Life insurance and annuities are issued by Allianz Life Insurance Company of
North America, and in New York, by Allianz Life Insurance Company of New York,
New York City.
Lincoln Financial Group is the marketing name for Lincoln National Corporation
(NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region,
the companies of Lincoln Financial Group had assets under management of $170
billion as of March 31, 2012. Through its affiliated companies, Lincoln
Financial Group offers: annuities; life, group life, disability and dental
insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial
planning and advisory services. For more information, including a copy of our
most recent SEC reports containing our balance sheets, please visit
Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the
largest and strongest diversified insurance and financial services
organizations in the U.S. and is rated A+ by both A.M. Best and Standard &
Poor’s. The company provides customers a full range of insurance and financial
services, including auto insurance, motorcycle, boat, homeowners, pet, life
insurance, farm, commercial insurance, annuities, mortgages, mutual funds,
pensions, long-term savings plans and specialty health services. For more
information, visit www.nationwide.com.
Pacific Life provides a wide range of life insurance products, annuities, and
mutual funds, and offers a variety of investment products and services to
individuals, businesses, and pension plans. Pacific Life counts more than half
of the 100 largest U.S. companies as its clients. For additional company
information, including current financial strength ratings, visit Pacific Life
online at www.pacificlife.com/.
Allison Chin-Leong, 212-350-3824
Amy Hyland Jones, 704-383-4995
Sara Thurin Rollin, 763-765-6703
Lincoln Financial Group
Eric Samansky, 484-583-1431
Mike Switzer, 614-249-4092
Tennyson Oyler, 949-219-3248
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