Press Release

RetireOne Partners with Pension & Wealth Management Advisors on a Program to Help Clients Protect Income in Retirement

Issued by RetireOne

Apr. 12, 2023

Powered by a Contingent Deferred Annuity, RetireOne’s turnkey Portfolio Income Insurance Program adds a new dimension to Pension & Wealth Management Advisors’ risk management approach

SAN FRANCISCO -- RetireOne®, the leading independent platform for fee-based insurance solutions, today announced the launch of Pension & Wealth Management Advisors’ (PWMA) Portfolio Income Insurance Program. Based in Waltham, MA, PWMA is a dedicated team of financial advisors offering comprehensive solutions to clients with an approach centered around risk management.

Powered by Constance, a contingent deferred annuity (CDA) launched by RetireOne in partnership with Midland National® Life Insurance Company, the PWMA Portfolio Income Insurance program offers the firm’s advisors a measure of certainty for their risk-averse clients who might otherwise avoid or reduce allocations to equities. The CDA unbundles insurance protections from underlying investments, enabling PWMA advisors the ability to cover their proprietary models with an income guarantee (subject to the claims paying ability of the insurance company).

“We’re always scouting progressive technologies and solutions like RetireOne’s Portfolio Income Insurance Program,” said George P. Webb, CEO of Pension & Wealth Management Advisors. “If you have a risk averse client, staying in cash may provide peace of mind but it will ultimately disadvantage them over time. By setting a floor of income with the CDA, we have an innovative tool for boosting clients’ confidence and getting them out of cash. Further, we can transfer market risk in their portfolios to an insurance company without moving the asset.”

The Portfolio Income Insurance Program is designed to provide retirees with a stable source of income, even in the event of a market downturn or economic crisis. Constance offers a flat certificate fee and the flexibility to begin taking income at any time, allocate up to 75% equities, and sever at any time.

"No one can control the markets,” said David Stone, co-founder and CEO of RetireOne. “What we do know, however, is that they’ve consistently produced higher gains than cash or fixed-income assets over long time periods, helping countless Americans to achieve their financial goals. We partnered with Midland National to build a CDA that takes some risk off the table so investors can focus on what they can do now and stay on plan.”

To learn more about Constance and RetireOne’s outsourced insurance desk offering, please visit RetireOne.com.

About RetireOne

Serving over 1,100 RIAs and fee-based advisors since 2011, RetireOne® is the leading, independent platform for fee-based insurance solutions. With offerings from multiple “A” rated companies, RIAs may access this fiduciary marketplace at no additional cost to them or their clients. Currently servicing over $1.4 billion of retirement savings and income investments, RetireOne continues to grow in its mission to provide advisors and their clients’ valuable retirement solutions that are simple to use, easy to understand, and delivered with outstanding service. Learn more at RetireOne.com and follow us on Twitter @RetireOne and LinkedIn.

About Pension & Wealth Management Services

Pension & Wealth Management Advisors is a Registered Investment Advisor with the U.S. Securities and Exchange Commission. PWMA provides advisory expertise in Wealth Management, Asset Management, and Institutional Advisory services to help clients optimize their investment opportunities. Learn more at www.pensionwealth.com

The Certificate is designed to protect investors who are concerned that, either because of withdrawals over time, poor market performance, or both, their Covered Asset Pool may be depleted during their lifetime. To address that need, the Certificate in effect provides a limited form of insurance against outliving assets. The Certificate has no cash value, surrender value or death benefit. The Certificate is intended for long-term investment purposes. You and your client should consider the risks and expenses of the annuity carefully before investing. The prospectus contains this and other information. You or your client can call 877-575-2742 to obtain a current prospectus for the contingent deferred annuity. Inform investors to read it carefully before investing.

Securities offered through EF Legacy Securities, LLC (EFLS). EFLS is a member of FINRA/SIPC, registered in all 50 states and is a licensed insurance agency (resident KY license no. DOI-896601). In CA, EFLS is doing business as EF Legacy Insurance Agency LLC (nonresident license no. 0L01472).

The Constance℠ Group Contingent Deferred Annuity is issued by Midland National® Life Insurance Company, West Des Moines, Iowa 50266, offered by EF Legacy Securities, LLC (dba RetireOne), member FINRA and underwritten by Sammons Financial Network®, LLC., member FINRA. Sammons Financial Network®, LLC., and Midland National® Life Insurance Company are wholly owned subsidiaries of Sammons® Financial Group, Inc. and are not affiliated with EF Legacy Securities, LLC., and RetireOne.

The Constance℠ Group Contingent Deferred Annuity can play an important role in your retirement plan but may not be for everyone. Before investing, you and your financial advisor should discuss aspects that affect the appropriateness of your situation, including cost, investment timeframe and other retirement assets you may have. The Certificate is intended for long-term investment purposes. Excess withdrawals may significantly decrease and even terminate the benefits provided by the Certificate.

NOT FDIC/NCUA INSURED, MAY LOSE VALUE INCLUDING LOSS OF PRINCIPAL, NO BANK/CU GUARANTEE, NOT A DEPOSIT, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY.

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