CHICAGO, Nov. 14, 2012 /PRNewswire/ -- Achaean Financial ("Achaean"), a financial services firm committed to providing innovative ideas and tools for creating secure retirement solutions that benefit investors, financial advisors and insurance companies, today announced that H. Thomas McMeekin, former CIO of SunAmerica Financial Group, has joined the firm's board of directors. In this role, Mr. McMeekin will leverage his extensive asset management experience to accelerate the national expansion of Achaean's patent-pending and cost-effective variable annuity design, Income Plus+.
"Adding Thomas to our Board of Directors is another example of how Achaean continues to align with industry leaders to expand the reach of Income Plus+ to the broader marketplace. Tom has the experience and extensive network to help insurance companies understand how to overcome legacy issues with existing annuities and correctly position Income Plus+," said Lorry Stensrud, Chief Executive Officer of Achaean.
Income Plus+ will be available to both new retirees seeking secure income, and also to underwriters with legacy blocks as a means to transform, or remediate, the liabilities associated with them, unlocking excess reserves and risk-based capital from insurance company balance sheets, while benefiting the policyholder. Income Plus+ is complemented by Achaean's Retirement Outcome, which is an advanced, open-architecture and fully customizable retirement planning tool designed to help investors and their advisors understand the tradeoffs they face in retirement and to create personalized solutions, including appropriate spending, overall portfolio risk and allocations to guaranteed-income products.
"Achaean has brought a product suite to market at a time when investors, advisors and underwriters are seeking innovative solutions to retirement income and remediation of existing annuities," said Mr. McMeekin. "By delivering the tools that meet these needs, Achaean is uniquely positioned to transform the insurance industry and provide the means to secure sustainable lifetime income at a time when the demand for such innovation is extremely high because of severe market dislocations."
Prior to his role at SunAmerica Financial Group, Mr. McMeekin served as Managing Director at Prudential Investment Management, Managing Partner and Founder at Griffin Investments, LLC, and Executive Vice President and Chief Investment Officer at Lincoln Financial Group.
For more information about Achaean Financial, please contact Rachael Fisher-Layne of JCPR at (973) 850-7318 or firstname.lastname@example.org.
About Achaean Financial
Based in Chicago, Achaean Financial is a financial services firm committed to providing innovative ideas and tools for creating secure retirement solutions that benefit insurance companies, financial advisors and investors. The company is uniquely positioned to capitalize on a supply-demand dislocation in the retirement income market by leveraging its retirement advice software platform, Retirement Outcome, and its innovative income guarantee product, Income Plus+. These two products can be used independently but together provide a holistic solution for the largest opportunity in the financial services space: providing for retirement income peace of mind. For more information, visit www.achaeanfinancial.com.
SOURCE Achaean Financial