‘SIMON’ Makes Indexed Annuities Simpler
December 6, 2019 by Kerry Pechter
Structured notes and indexed annuities don’t ordinarily mingle. Structured notes are after-tax securities built by investment banks for high net worth clients of wealth managers at wirehouses and private banks. FIAs are tax-deferred products built by life insurers for clients of insurance agents and advisers at independent broker dealers.
But on the SIMON platform, they do mingle. Backed by major financial institutions who issue structured notes—including Barclays, Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, and Wells Fargo—SIMON recently branched out to include indexed annuities, adding products from Prudential, its only insurance carrier investor.
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