Security Benefit Answers Call for Broader Array of Investment Options in Variable Annuities 71 New Fund Options to Help Advisors Manage Market Volatility
TOPEKA, Kan., Feb. 4, 2013 /PRNewswire/ -- Security Benefit Corporation, a Guggenheim Partners company and leading provider of retirement savings and income vehicles, today announced a major expansion of the investment lineup for the low-cost, fee-only EliteDesigns® Variable Annuity.
The addition of 71 new investment subaccounts managed by 23 leading U.S. investment managers brings the total number of variable account options in EliteDesigns to 269.
"Advisors nationwide have asked for more investment options to help manage market volatility and tax efficiency," said Michael K. Reidy, Vice President and National Sales Manager of the RIA and Independent Broker-Dealer Advisory Channel at Security Benefit. "With the addition of fixed income, asset allocation, global/international and alternative portfolios from fund managers like Dimensional Fund Advisors and JPMorgan, and new underlying funds from existing partners like Guggenheim Investments, we are providing the flexibility advisors want."
Other market-leading managers of the newest EliteDesigns portfolios include Fidelity Investments, Ibbotson Investments, Pioneer Investments, Putnam Investments, Innealta Capital and Western Asset Management. In all, EliteDesigns now gives advisors and their clients a choice of 38 nationally known asset managers investing across 36 Morningstar categories.
"We're very pleased to be able to offer these brand-new portfolios from investment firms that advisors respect," said Reidy. "For example, Dimensional, with over $250 billion* in assets under management, has for three years running, been ranked by Cogent Research as the fund family to which financial advisors were the most committed."**
Reidy added that the expansion is timely in light of impending increases to personal income tax rates and "today's investment environment." As investors, particularly those in the top tax brackets, look for cost-effective means to mitigate tax hikes, Reidy believes that EliteDesigns may make it easier for financial advisors to offer a ready-made yet customizable solution which may also help investors reach long term investment goals. EliteDesigns combines tax deferral with a fee structure well below that of the average variable annuity and imposes no surrender charges, redemption fees or trading limits (trading rules apply to certain subaccounts).
Reidy expects the increased number and variety of EliteDesigns' nontraditional and low-correlated investment options, such as the more than 50 alternative strategies, will be useful in creating meaningful strategic and tactical asset allocations that better address investors' loss aversion in the present post-crisis environment.
More information about EliteDesigns can be found at www.elitedesignsinvestments.com.
Annuities are long-term investments suitable for retirement investing.
You should consider the investment objectives, risks, and charges and expenses of the investment options available under the Variable Annuity carefully before investing. You may obtain a prospectus that contains this and other information about the investment options or Variable Annuity by calling our Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in variable annuities involves risk and there is no guarantee of investment results.
In all states except New York, the EliteDesigns Variable Annuity (form V6029) is a flexible purchase payment deferred variable annuity issued by Security Benefit Life Insurance Company (SBL). In New York, the EliteDesigns Variable Annuity (form FSB242 (1-07)) is a flexible purchase payment deferred variable annuity issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. Variable annuities are distributed by Security Distributors, Inc. (SDI). SDI is a wholly-owned subsidiary of SBL. FSBL and SBL are wholly owned subsidiaries of Security Benefit Corporation ("Security Benefit"). Security Benefit is indirectly controlled by Guggenheim Partners, LLC. EliteDesigns may not be available in all states. As the issuer of EliteDesigns, the obligations under the EliteDesigns Variable Annuity are solely those of the issuing insurer (and no other entity's). SBL is not authorized in the state of New York and does not transact the business of insurance in the state of New York.
About Security Benefit Corporation
Founded in 1892, Security Benefit Corporation, a Guggenheim Partners Company, is a leading provider of savings and income solutions for America's pre- and post-retirees. Security Benefit Corporation targets multiple wealth segments and channels of distribution through an independent, merit-based distribution structure. By leveraging Guggenheim Investments' superior general account management capabilities into highly competitive products, Security Benefit Corporation focuses on the retirement savings market providing a full range of services to independent distributors including broker/dealers, IMOs, and other financial service providers. Security Benefit is indirectly controlled by Guggenheim Partners, LLC. To learn more about Security Benefit, visit www.securitybenefit.com.
*As of September 30, 2012
** Cogent Research's annual Advisor Brandscape report found that, among the over 1,700 financial advisors with at least $5 million in assets under management surveyed in Spring 2012, financial advisors ranked Dimensional as the fund family to which they were most committed to three years in a row. Cogent's Advisor Brandscape report measured commitment based on an advisor's expressed likelihood to recommend a brand and intention to increase their allocation to that brand.
For more information, please contact:
Dan Mahoney, Communications Strategy Group
Michel' Cole, Security Benefit Corporation
SOURCE Security Benefit Corporation