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The Symetra Daily Value Fixed Account is an unallocated group annuity created for 403(b)/457 plans and other qualified retirement programs. According to the announcement, Daily Value is designed to complement the broker-dealer platform of funds by offering a fixed rate of return account that is daily valued, similar to a mutual fund.
“We created the Daily Value feature to merge the safety and stability of a fixed annuity with the convenience many broker-dealers associate with mutual funds. Our new CPI relationship makes it even easier for broker-dealers to expand their platform of funds,” said Scott Bartholomaus, executive vice president of 403(b)/457 Distribution at Symetra, in the announcement.
“There are only a few fixed account options that are available to the 403(b) and 457 market, so this is an exciting addition,” Jon Prescott, CPI’s chief marketing officer, added.
More about Symetra is at http://www.symetra.com. More about CPI is at http://www.cpiqpc.com.