Prudential Financial (PRU) and LPL Financial (LPLA) announced a further expansion of their relationship, as the two firms collaborate to bring to market an Insurance Overlay retirement lifetime income strategy for LPL’s managed accounts platform. The solution will be designed to reach financial advisors who do not typically use protected lifetime income and other insurance-led retirement solutions in their wealth management practices today. Recent “Peak 65” research shows that more than 11,000 Americans are turning 65 every day. And although people also are living longer than ever, only a small fraction of the $34 trillion in retail retirement assets today are protected against longevity risk and retirement sequence of returns risk caused by market volatility. This solution will result in offering multiple Prudential individual, insurance-based retirement products for consideration by LPL’s network of 29,000 financial advisors. This also follows the recently launched strategic relationship and integration of Prudential Advisors, Prudential’s U.S. retail arm, onto the LPL Financial wealth management platform.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRU:
- Wolfe Research launches coverage with positive view on Life Insurance names
- Prudential initiated with a Peer Perform at Wolfe Research
- Prudential price target raised to $117 from $113 at Morgan Stanley
- Apple invests extra $100B in U.S., Trump wants Intel CEO to resign: Morning Buzz
- Prudential enters $100M settlement with FTC over Assurance IQ, Reuters says