Prudential Joins Effort to Sell New Way to Tap Retirement Assets
January 22, 2025 by Allison Bell
Prudential Financial is helping to get attention for a relatively new income-creation concept: bolting an annuity spigot onto a client’s existing investment portfolio.
The Newark, New Jersey-based life and annuity giant is joining an “insurance overlay” alliance that also includes Dimensional Fund Advisors, an asset manager, and Fiduciary Exchange LLC, the parent of the FIDx insurance exchange. FIDx wants to add an insurance overlay section to its exchange.
FIDx CEO Rich Romano said the goal was to make it easier for advisors to add a protected lifetime income feature directly to a client’s managed account.