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Corebridge Financial Partners with Market Synergy Group to Launch Power Select Advisory for Registered Investment Advisors
Rhea-AI Impact
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Rhea-AI Sentiment
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Tags
partnership
Rhea-AI Summary
Corebridge Financial (NYSE: CRBG) has expanded its partnership with Market Synergy Group to launch Power Select Advisory, a fixed index annuity aimed at registered investment advisors (RIAs). This innovative product offers growth potential and downside protection, featuring indices from renowned asset managers Dimensional Fund Advisors and AllianceBernstein. Key benefits include protected lifetime income options with two guaranteed living benefit riders. Corebridge's new offering is set to enhance retirement savings solutions, aligning with current market demands for financial security.
Positive
Launch of Power Select Advisory, targeting registered investment advisors, enhances product offering.
Partnership with Market Synergy Group aims to strengthen retirement solutions.
Offers growth potential with indices from Dimensional Fund Advisors and AllianceBernstein.
Includes protected lifetime income options, adding certainty for retirees.
Negative
None.
New Fixed Index Annuity Offers Growth Potential, Downside Protection and Lifetime Income
HOUSTON--(BUSINESS WIRE)--
Corebridge Financial today announced the expansion of its partnership with Market Synergy Group (MSG), one of the nation’s largest networks of independent marketing organizations, to include the launch of Power Select AdvisorySM, a fixed index annuity created for registered investment advisors (RIAs).
“We are excited to build on our long-standing partnership with Market Synergy Group and help their clients save more for retirement while protecting their portfolios in volatile markets,” said Eric Taylor, RICP®, Senior Vice President, Independent Annuity Distribution at Corebridge Financial. “Power Select Advisory combines growth, protection and lifetime income benefits in an advisory solution that’s specifically designed to help meet the needs of registered investment advisors and their clients.”
Power Select Advisory is the newest addition to The Power Series of Index Annuities®, Corebridge’s family of fixed index annuities, and is available exclusively through MSG. In a first for an advisory index annuity, Power Select Advisory offers growth potential through indices created and managed by Dimensional Fund Advisors and AllianceBernstein (AB), two leading asset management firms known for their research experience and expertise. The Dimensional US Foundations Index draws on prize-winning academic and empirical research to pursue growth with targeted volatility, and the AB All Market Index® combines global market exposure with a dynamic momentum strategy to help stabilize returns.
The new Power Select Advisory includes protected lifetime income options that can add certainty and flexibility throughout retirement. These include two optional guaranteed living benefit (GLB) riders—Lifetime Income Plus Flex®, which guarantees a 9% income credit every year until lifetime income begins, and Lifetime Income Plus Multiplier Flex®, which provides income credits that double the interest earned in the annuity while saving for retirement and that match the interest earned after starting lifetime income.
“Market Synergy Group is committed to providing financial professionals with innovative product solutions, and our strong partnership with Corebridge Financial has been instrumental in helping us deliver on that goal,” said Lance Sparks, President, Market Synergy Group. “In today’s market environment, it’s critical to have retirement solutions like Power Select Advisory that combine upside growth potential with downside principal protection, while ensuring that clients won’t outlive their income. We are thrilled to feature this new advisory solution exclusively to our RIA partners.”
Power Select Advisory is issued by American General Life Insurance Company (AGL), a subsidiary of Corebridge Financial, Inc. Guarantees are backed by the claims-paying ability of AGL.
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Index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the claims-paying ability of the issuing insurance company. They provide the potential for interest to be credited based in part on the performance of the specified index, without the risk of loss of premium due to market downturns or fluctuations. Index annuities may not be suitable or appropriate for all individuals.
Withdrawals may be subject to federal and/or state income taxes. An additional 10% federal tax may apply if individuals make withdrawals or surrender their annuity before age 59½. Individuals should consult their tax advisor regarding their specific situation.
This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your financial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.
All contract and benefit guarantees including any fixed account crediting rates or annuity rates are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which this annuity is purchased. Rates are subject to change prior to contract issue.
The Power Series of Index Annuities are issued by American General Life Insurance Company (AGL), Houston, Texas. Contract Numbers: AG-800 (12/12) and AG-801 (12/12). AGL is a member company of Corebridge Financial, Inc. The underwriting risks, financial and contractual obligations, and support functions associated with the annuities issued by AGL are its responsibility. Guarantees are backed by the claims-paying ability of the issuing insurance company. AGL does not solicit, issue or deliver policies in the state of New York. Annuities and riders may vary by state and are not available in all states. This material is not intended for use in the states of Idaho and New York.
Not FDIC or NCUA/NCUSIF Insured
May Lose Value • No Bank or Credit Union Guarantee
Not a Deposit • Not Insured by any Federal Government Agency
About Corebridge Financial
Corebridge Financial (NYSE: CRBG) makes it possible for more people to take action in their financial lives. With more than $355 billion in assets under management and administration as of December 31, 2022, Corebridge is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us onLinkedIn, YouTube,FacebookandTwitter.
