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Products June 7, 2011
Minnesota Life Adds Ivy Funds to Variable Products
Minnesota Life recently added two Ivy Funds Variable Insurance Portfolios (VIPs) to Waddell & Reed Advisors' products.
Reported by PLANADVISER staff
Waddell & Reed affiliated advisers will be able to offer the Ivy Funds VIP Global Bond and Limited-Term Bond investment options, among others, to new and existing adviser clients who own Minnesota Life Waddell & Reed Advisors Retirement Builder Variable Annuity and Waddell & Reed Advisors Accumulator Variable Universal Life products (AVUL). The Waddell & Reed Advisors Retirement Builder Annuity (W & R Annuity) is a variable annuity issued by Minnesota Life Insurance Company (Minnesota Life), St. Paul, Minnesota and the Waddell & Reed Advisors Accumulator Variable Universal Life is a variable life insurance contract issued by Minnesota Life.
“These funds were added to Retirement Builder and AVUL to provide a broader array of fixed income choices for contract holders,” said Marshal Urbanz, senior key account manager, Securian Financial Group.
Waddell & Reed, Inc. provides financial planning services to clients in the United States through its network of nearly 1,900 financial advisers. Waddell & Reed, Inc. also serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios, Inc. and InvestEd Portfolios, Inc. The Ivy Funds are managed by Ivy Investment Management Company and distributed by its subsidiary, Ivy Funds Distributor, Inc. Both Waddell & Reed, Inc. and Ivy Funds Distributor, Inc. are subsidiaries of Waddell & Reed Financial, Inc.