DFA’s asset allocation models and 38 Mutual Funds and ETFs are now covered by Constance: the first flat-fee, zero-commission lifetime income solution that RIAs can seamlessly integrate into client portfolios
San Francisco, CA – February 15, 2022 – RetireOne®, the leading independent platform for fee-based insurance solutions, today announced they have collaborated with Dimensional Fund Advisors (DFA) and Midland National Life Insurance Company (Midland National) to offer 3 asset allocation models and 38 institutional-class mutual funds and Exchange-Traded Funds (“ETFs”) covered by Constance – a zero-commission contingent deferred annuity designed expressly for RIAs.
Launched in October of 2021, Constance allows RIAs to wrap client brokerage accounts, IRAs, or Roth IRAs with a first-of-its-kind lifetime income protection, enabling advisors to continue to oversee client assets as they enter retirement and begin the decumulation phase. In working with DFA and gaining access to its asset allocation models and funds, advisors can benefit from value added fund and investment options that can be protected by an annuity, providing greater flexibility and choice for advisors and clients alike.
“A good retirement is a comfortable standard of living, which is measured by the amount of sustainable lifetime income received, and not by the size of the accumulated ‘pot.’ Significant numbers of Americans retire today without the reassurance of an adequate pension,” saidRobert C. Merton, Nobel Laureate in Economic Sciences and Resident Scientist at Dimensional Holdings. “New and innovative lifetime-income solutions will be critical for addressing the looming retirement planning crisis. A well-designed Contingent Deferred Annuity offers new and flexible ways to create guaranteed lifetime income directly from IRAs, Roth IRAs, and brokerage accounts.”
Through its exhaustive research-driven approach, DFA identifies securities based on a set of proven shared characteristics, or “dimensions.” To be considered a dimension, the characteristics must be sensible, persistent over time, pervasive across markets, and cost-effective to capture.
“Constance is a modern solution designed to confront the retirement crisis head-on. Adding Dimensional’s research and expertise in asset allocation and model management strengthens the Constance offering,” Edward J. Mercier, President of RetireOne. “We are thrilled to work with Dimensional to better protect near-retirees and retirees during the “fragile decade” by providing fiduciaries with top-tier investment solutions to better assist their clients in retirement planning.”
Through Constance, offered exclusively on the RetireOne platform, investors can for the first-time access DFA mutual funds and ETFs with a lifetime income guarantee powered by a Contingent Deferred Annuity. The CDA is the latest example of RetireOne’s commitment to providing easy-to-understand, affordable retirement solutions that fee-only fiduciaries can easily implement in their practices to increase their offerings and improve client outcomes.
Advisors who would like to learn more about how they can begin to leverage Constance for their clients can schedule a meeting, or call their RetireOne Relationship Manager at (877) 575-2742. For additional information please visit Retireone.com.
Serving over 1,000 RIAs and fee-based advisors since 2011, Aria Retirement Solutions’ RetireOne® is the leading, independent platform for fee-based insurance solutions. With offerings from multiple “A” rated companies, RIAs may access this fiduciary marketplace at no additional cost to them or their clients. Currently servicing over $1.5 billion of retirement savings and income investments, RetireOne continues to grow in its mission to provide advisors and their clients’ valuable retirement solutions that are simple to use, easy to understand, and delivered with outstanding service. Learn more at RetireOne.com and follow us on Twitter @RetireOne and LinkedIN.
About Midland National Life Insurance Company
For more than 115 years, Midland National® Life Insurance Company (Midland National) has been an industry leader, crediting the company’s strength to its commitment to stability, innovation, and dedicated customer service. Midland National is accredited by the Better Business Bureau, and has earned an A+ (Superior) rating from A.M. Best, 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 ongoing obligations to policyowners. This rating is the second highest out of 15 categories and was affirmed by A.M. Best for Midland National as part Sammons® Financial Group, Inc. on July 30, 2021.
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in the United States. Midland National is a member of Sammons Financial Group, a subsidiary of Sammons Enterprises, Inc. With its annuity division in West Des Moines, Iowa, and its life insurance operations in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, click here.
About Dimensional Fund Advisors
Dimensional is a leading global investment firm that has been translating academic research into practical investment solutions since 1981. Guided by a strong belief in markets, we help investors pursue higher expected returns through a systematic investment process that integrates research insights with advanced portfolio design, management, and trading, while balancing tradeoffs that can impact returns. Dimensional is headquartered in Austin, Texas, and has 13 global offices across North America, Europe, and Asia. As of December 31, 2021, Dimensional manages $679 billion for investors worldwide. For more information, please visit dimensional.com.
Robert Merton provides consulting services to Dimensional Fund Advisors LP.
Midland National, a Sammons Financial Group company