July 24, 2018

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July 24, 2018

July 24, 2018ByDave TerrellInArticles

Stone Writes in Advisor Perspectives about Slow RIA Adoption of No-Load Annuities

Experts have been weighing in on the slow adoption of no-load annuities and insurance-based solutions by RIAs. Certainly, a lack of non-commission products has been one of the culprits, but as more and more fee-based products come to market, why is adoption still low? Michael Kitces, recently quoted in a Ben Mattlin article in Financial...

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Important Disclosures

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 your assets. The Certificate has no cash value, surrender value or death benefit. The Certificate is intended for long-term investment purposes. You should consider the risks and expenses of the annuity carefully before investing. The prospectus contains this and other information. You may contact your financial professional or call (877) 575-2742 to obtain a current prospectus for the contingent deferred annuity. Please read it carefully.

A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company’s financial strength, operating performance, and ability to meet its obligations to policyholders. Ratings shown reflect the opinions of the rating agencies and are not implied warranties of the company’s ability to meet its financial obligations. The above ratings apply to Midland National’s financial strength and claims-paying ability.

A.M. Best rating affirmed on July 30, 2021. For the latest rating, access ambest.com. Awarded to Midland National^® as part of Sammons^® Financial Group Inc., which consists of Midland National^® Life Insurance Company and North American Company for Life and Health Insurance^®.

Constance CDA is not a pension, nor does it contain all of the same features or benefits of a pension; it is a contingent deferred annuity which is a type of insurance product.

The Constance^SM Group Contingent Deferred Annuity (AG206A (contract) and AC206A (certificate) is issued by Midland National^® Life Insurance Company, West Des Moines, Iowa 50266, distributed by EF Legacy Securities, LLC, member FINRA and underwritten by Sammons Financial Network^®, LLC., member FINRA. The Constance^SM Group Contingent Deferred Annuity is not available in New York.

Product and feature availability may vary by state and program sponsor.

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^SM group contingent deferred annuity is not a subscription service and the amounts you pay for the benefits provided by this annuity are referred to in the group contract and certificate as fees. Failing to pay the required fees may result in termination of benefits including the “coverage amount” described herein.

Registered investment advisors* (financial advisors) who work with our appointed insurance agents (financial professional(s)) operate independently from Midland National and vary in the extent to which they use the insurance products available to any respective financial professional.

*Midland National does not evaluate, endorse, recommend, or guarantee the services of any financial advisor. You have the relationship and hiring decisions with your financial advisor. As such, we will not supervise or monitor the financial advisor’s activities or your overall investment portfolio, nor are we responsible for the performance of your investments. We have no discretionary authority or control, or liability for any damages with respect to how your financial advisor manages your investment assets.

Midland National^® Life Insurance Company does not give tax, legal, or investment advice. Please consult with and rely on your own tax, legal, or investment professional(s).

The certificate is not designed for resale or speculation, arbitrage, viatical settlements or any type of collective investment scheme. The contract may not be traded on any stock exchange or secondary market. By purchasing the contract, you represent and warrant that you are not purchasing or intending to use the contract, and any of its riders, for resale, speculation, arbitrage, viatical settlements or any type of collective investment scheme.

The Constance^SM 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.

This is neither an offer to sell nor a solicitation to buy. Before purchasing this product, you must receive a current prospectus that includes information regarding risk factors, fees, expenses, investment objectives, and policies. Read the prospectus carefully before you invest any money.

Before replacing an annuity, review the current policy for loss of benefits or surrender charges you may incur. Some of the fees you are paying in your current annuity could be for benefits other annuities do not provide. When considering a 1035 exchange, the replacement annuity is potentially subject to additional fees including a new surrender schedule.

This is a not the story of an actual investor. It is a narrative designed to illustrate the potential value of a packaged solution to solve a specific client need. It is not intended as a testimonial or endorsement of any particular product.

Testimonials may not be representative of the experience of other financial professionals. Testimonials are no guarantee of future performance or success. No fees were paid to the financial professionals who provided these testimonials.

Guarantees are subject to the claims paying ability of the issuing insurance company.

Annuities on the RetireOne platform include low-cost, commission-free products that don't charge surrender penalties. They feature low-cost underlying investment options from fund families like Vanguard and DFA with expense ratios as low as .03%, and average portfolio expenses ranging from 0.63% to 1.02%. M&E fees in these annuities range from 0.20% to .50%, which represents a cost savings relative to traditional products that charge an average 1.32% in M&E fees (source: Morningstar 12/18).

No-load insurance and annuities do not pay the traditionally high commissions for the sale of these products. Other fees and expenses including subaccount fees, M&E charges, administrative fees, optional rider fees, surrender charges, and other insurance-related fees may apply.

We recommend that you consult with a tax professional when considering annuities or other investments.

RetireOne is paid a nominal administration and service fee by insurers to support the platform through which these products are offered to advisors and their clients.

¹Assumes a fee difference of 90 bps—45 bps M&E for no-load VA vs. 135 bps for average traditional VA (according to Morningstar 12/18).

²First-year fee savings based on $200,000 traditional variable annuity account charging 135 bps M&E vs. IOVA charging 45 bps with a 6% return assumption.

Ameritas Advisor No-Load VA (form 6150) and Ameritas Advisor VUL® (form 4051) are issued by Ameritas Life Insurance Corp. and underwritten by affiliate Ameritas Investment Corp. Variable annuities are suitable for long-term investing, particularly for retirement, and are subject to investment risk, including possible loss of principal. Before investing, carefully consider the investment objectives, risks, charges and expenses and other important information about the policy issuer and underlying investment options. This information can be found in the policy and investment option prospectuses, which are available on this website. Please read the prospectuses carefully before investing or sending money. Products are not available in NY.

RetireOne is not an affiliate of Ameritas.

Sammons Financial^® is the marketing name for Sammons^® Financial Group, Inc.’s member companies, including Midland National^® Life Insurance Company. Annuities and life insurance are issued by, and product guarantees are solely the responsibility of, Midland National Life Insurance Company.

The IndexMax ADV^SM is issued on base contract form AS203A/ICC20-AS203A, or appropriate state variation including all applicable endorsements and riders. This product, its features and riders may not be available in all states.

Midland National^® provides the guarantees through its general account.

Midland National does not evaluate, endorse, recommend, or guarantee the services of any financial advisor. You have the relationship and hiring decisions with your financial advisor. As such, we will not supervise or monitor the financial advisor's activities or your overall investment portfolio, nor are we responsible for the performance of your investments. We have no discretionary authority or control, or liability for any damages with respect to how your financial advisor manages your investment assets. Withdrawals taken prior to age 59 1/2 may be subject to IRS penalties.

Registered investment advisors (financial advisors) who work with our appointed insurance agents (financial professional(s)) operate independently from Midland National and vary in the extent to which they use the insurance products available to any respective financial professional.

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).

Non-registered insurance products are sold by RetireOne, Inc. (RetireOne), a licensed insurance agency (resident KY license no. DOI-778494). In CA and AR, RetireOne is doing business as R1 Insurance Solutions, Inc., (nonresident license no. 0H44773 and 100107906, respectively).

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR CONSUMER USE.