Prudential, Dimensional Fund Advisors, FIDx Announce Product Partnership

Prudential Financial Inc. has collaborated with Dimensional Fund Advisors L.P. and Fiduciary Exchange LLC to introduce protected lifetime income strategies to managed accounts through the latter’s FIDx Insurance Overlay marketplace.

“Working with Dimensional and FIDx to bring protected lifetime income strategies to managed accounts is a key step in advancing Prudential’s commitment to expanding access to retirement security for more people,” Ann Nanda, head of future growth initiatives at Prudential Retirement Strategies, said in a statement.

Nanda highlighted that this collaboration builds on Prudential’s existing offerings, such as the MyRock Advisor Variable Annuity, available to registered investment advisers through FIDx’s broker/dealer.

The new partnership also extends Prudential’s relationship with Dimensional, which includes incorporating a Dimensional index into the FlexGuard registered index-linked annuity suite and adding a Dimensional index to the SurePath suite of fixed-indexed annuities. FlexGuard and SurePath are Prudential products.

“We look forward to working with Prudential and FIDx to bring our well-diversified, low-turnover systematic strategies to more retirees and their advisers nationwide,” Savina Rizova, co-chief investment officer and global head of research at Dimensional, said in a statement.

The FIDx Insurance Overlay marketplace serves as a bridge connecting insurance carriers, wealth management platforms and advisers. By integrating insurance-based solutions into one platform, advisers can efficiently manage these options.

“Our Insurance Overlay marketplace lets advisers easily add longevity, income and protection directly to a managed account, enabling them to remain focused on helping clients achieve their retirement goals,” FIDx CEO Rich Romano said in a statement.