PHILADELPHIA, June 14, 2012 /PRNewswire/ -- Lincoln Financial Distributors (LFD), the wholesale distribution subsidiary of Lincoln Financial Group (NYSE:LNC), today announced its ChoicePlus Assurance(SM) variable annuity, a long-term retirement investment solution, was selected by Wells Fargo Advisors, LLC (member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company (NYSE: WFC)) to be incorporated in its Advisory Variable Annuity (AVA) Program. The program is designed to help advisors ensure their clients are properly prepared for retirement using a single account approach.
Popularity of fee-based variable annuities has significantly increased over recent years. A Lincoln analysis of Morningstar data shows that from 2008 to 2011, sales of variable annuities sold through a fee-based platform increased 36 percent.
"Selection of our solution as part of the Wells Fargo Advisors advisory variable annuity program underscores the growing recognition of advantages of this type of product," said John Kennedy, Lincoln Financial Distributors' Head of Retirement Solutions Distribution. "This approach to investing has become more attractive due to the streamlined process for managing a more holistic financial program that not only focuses on accumulation but also income distribution during retirement years," he said.
"We worked closely with a number of insurance carriers and are pleased to be able to include Lincoln's ChoicePlus Assurance variable annuity," said Bernie Gacona, director of Annuities at Wells Fargo. "It provides our advisors and clients with more flexibility and offers guaranteed options for now or in the future."Lincoln's ChoicePlus Assurance solution offers access to some of today's top investment managers, as well as tax efficient retirement income through different optional riders designed to help meet specific financial needs. Options include a choice of a multiple asset manager approach that comes in two forms: an open architecture, enabling control over investment choices; or a set of asset allocation funds, specifically designed to help reduce volatility, protect account values and maximize income during retirement.
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