Products August 24, 2023

Investment Product and Service Launches

Snappy Kraken introduces AI email builder; American Life & Security Corp. launch annuity product; Vanguard expands active lineup; and more.

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Snappy Kraken Introduces AI Email Builder

Snappy Kraken announced the launch of an artificial intelligence-powered email builder for advisers with the goal of cutting down on the time and effort of sending personalized client emails.

The new offering uses AI-driven technology to provide a drag-and-drop email builder through which advisers can craft more engaging email text and headlines. The email builder can also generate personalized images and includes smart buttons to drive adviser conversions, according to the announcement.

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“Our AI-powered email builder functions like a highly energized professional writer, marketer and designer, minus the accompanying overhead,” Angel Gonzalez, Snappy Kraken’s chief marketing officer, said in a statement. “With our new email builder, advisers can go from idea to finished email in mere minutes.”

Snappy Kraken’s product leverages insights from sending more than 100 million emails on behalf of advisers, according to the firm.

American Life & Security Corp Announce New Annuity Product

American Life & Security Corp., a subsidiary of Midwest Holding Inc., has announced a new annuity product called American Fusion.

The product, distributed by American Life’s IMO partners, combines key characteristics of a Multi-Year Guaranteed Annuity and a Fixed Index Annuity with the goal of providing a guaranteed rate for five years, with potential to participate in market growth without downside exposure, according to the announcement.

“Fusion combines a competitive full-term guaranteed rate with a strong performance threshold rate that can help meet the needs of pre-retirees and retirees of all ages,” Tom Bumbolow, head of distribution and business development, said in a statement.

American Fusion policyholders can take a required minimum distribution starting in the second contract year without a penalty. If any withdrawals are taken except RMDs starting in year two, the contract will be ineligible for a bonus interest credit.

American Fusion is approved for sale in 21 states and the District of Columbia: Arizona, Colorado, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, South Dakota, and Texas. Approval is pending in the remaining 4 states of the company’s current footprint, according to the announcement.

Vanguard to Expand Active Lineup with International Dividend Growth Fund

Vanguard announced plans to launch Vanguard International Dividend Growth Fund, an actively managed equity designed to compound wealth over the long term by investing in international companies with sustainably growing dividends

The International Dividend Growth Fund’s portfolio manager will construct a portfolio of companies with strong balance sheets and high, sustainable free cash flows, according to Vanguard. The fund will seek to invest in companies that can withstand the ups and downs of the business cycle, with an emphasis on market resilience in all environments.

“Investors can use the International Dividend Growth Fund as a meaningful component of their international equity holdings, and it can be paired with the U.S.-focused Dividend Growth Fund to build a globally diversified, actively managed equity allocation,” Dan Reyes, global head of the portfolio review department at Vanguard, said in a statement.

The fund will be managed by the investment team from Wellington Management Company LLP that is behind the Vanguard Dividend Growth Fund.

The fund is expected to be available for investment in the fourth quarter of 2023 with an expense ratio of 0.54%. It will have a single share class with a minimum initial investment of $3,000, according to the announcement

CreativeOne and RISA Enhance Retirement Income Planning

CreativeOne announced a new strategic partnership with RISA, the Retirement Income Style Awareness profile run by retirement income experts Wade Pfau and Alex Murguia.

CreativeOne’s financial advisers will have access to the RISA platform to survey clients’ retirement income preferences. The RISA profile will then provide advisers with actionable data to implement targeted retirement income strategies.

“By identifying individual retirement income preferences, CreativeOne’s advisers will be better equipped to tailor retirement strategies to each client’s unique needs,” Alex Murguia, co-founder of RISA, said in a statement.

“CreativeOne’s commitment to creating meaningful, personal relationships aligns perfectly with the RISA’s goal of empowering financial advisors with the insights they need to make the most informed decisions for their clients’ retirement income planning,” Mike Miller, president, partner, and CEO of CreativeOne, said in a statement.

Deals & People August 24, 2023

Future Capital and Wealth Advisory TLG Partner On 401(k) Investment Management

Deal to connect 401(k) accounts to wealth advisory signals further push in retirement and wealth management convergence, says Future Capital CEO.

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Future Capital, which integrates a financial advisers client portfolio with existing 401(k) assets, has penned a partnership to provide its offerings to registered investment advisory TLG Advisors, according to a Tuesday announcement.

TLG, which manages $1.6 billion in client assets, will have access to Future Capital’s customizable 401(k) managed account options to provide more personalized advice within defined contribution saving plans. It will also gain access to so-called held-away 401(k) assets that clients may otherwise be managing through their workplace plan, a service that Future Capital CEO Jay Jumper says is heightening as wealth managers look to manage clients’ full portfolio, including 401(k) plans.

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“The retirement and wealth convergence is real,” Jumper says in regard to the firm’s latest deal. “With partnerships like this, we are equipping advisers with the data, insights, and tools to create new growth opportunities.”

Future Capital’s services will be rolled out to TLG’s more than 260 advisers in the coming weeks, according to the announcement. Their managed account solution, has a monthly fee that ranges from $9 to $409 depending on the size of the account, according to the firm’s Form ADV regulatory filing.

“Our mission has always been to stand alongside our advisers, ensuring they have the resources, support, and freedom to serve their clients best,” Benjamin Tiller, director of advisory services at TLG Advisors, said in a statement. “Partnering with Future Capital means bringing another robust, tech-forward solution to our advisers, enhancing their ability to manage assets both in- and out-of-plan.”

Insurance and employee benefit aggregators have been acquiring RIAs for years as they seek to offer retirement plan solutions and personal wealth management services under one roof. More recently, predominantly wealth management firms have been acquiring retirement plan solutions and advisory services as well. Notable recent deals have included Carson Group’s acquisition of Northwest Capital Management, Savant Wealth Management adding Capital Direction, and Merit Financial Advisors acquiring Allegiance Retirement Solutions Inc.

The Future Capital relationship is set to help TLG’s advisers compete and win clients who are shifting to a retirement focus in their investing and planning, according to Jumper.

Currently, much of the retirement plan participant data and connections sit with retirement plan providers, according to Jumper, which limits the ability for financial advisers to manage retirement plan assets with other investments.

“Right now, the adviser doesn’t have the data,” Jumper says. “We are an extension of the adviser, and we want to be able to get as many data points as we can, and the only way you are going to get that is with engagement with the participant, or the investor.”

In a separate announcement earlier this week, Pontera, a financial technology firm that also syncs financial advisers with clients’ retirement savings accounts, made a deal with Summit Financial LLC, an RIA overseeing $9 billion in client assets. That announcement added to recent partnerships Pontera has signed with SageView Advisory Group and Founders Financial Securities LLC.

Future Capital, which is based in Chattanooga, Tennessee, rebranded from ProNvest Inc. earlier this year.

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