TOPEKA, Kan., March 25, 2013 (GLOBE NEWSWIRE) -- Security Benefit Corporation, a leading provider of retirement savings and income vehicles, announced today that it recently finalized an agreement with Envestnet, Inc., a leading provider of unified wealth management technology and services to investment advisors, to make its low-cost variable annuity, EliteDesigns®, available on Envestnet's Advisor Suite™.
Advisors on the Envestnet platform can now research and invest in EliteDesigns, which Security Benefit developed for the fee-based advisor.
"Envestnet's relationships with the majority of leading broker-dealers, independent advisors and advisory firms and solid reputation for delivering excellence provides greater access for EliteDesigns," said Michael Reidy, national sales manager for the RIA and Independent Broker Dealer Channel for Security Benefit. "This access, paired with the robust underlying fund options within the product, provides advisors the ability to efficiently manage their existing client relationships as well as effectively develop new client business."
EliteDesigns' innovative structure combines a tax-deferred* variable annuity with 269 well-recognized investment options. Leveraging the advantages of tax-deferral with the power of diverse underlying investments and an adviser-friendly trading platform, EliteDesigns is structured to suit a variety of today's investment strategies. From a relatively passive but well-diversified buy-and-hold investment program, to a progressive core and satellite model, to a highly sophisticated tactical strategy, EliteDesigns offers a broad range of asset classes and an array of well-known portfolio managers. For the investment options that permit active trading, there are no trading limits and no redemption fees. Complete product details are available at www.EliteDesignsinvestments.com.
Contact Security Benefit at 877.700.6847 for more information on accessing EliteDesigns on the Envestnet platform.
About Security Benefit Corporation
Founded in 1892, Security Benefit Corporation, a Guggenheim Partners Company, is a leading provider of savings and income solutions for America's pre- and post-retirees. Security Benefit Corporation targets multiple wealth segments and channels of distribution through an independent, merit-based distribution structure. By leveraging Guggenheim Investments' superior general account management capabilities into highly competitive products, Security Benefit Corporation focuses on the retirement savings market providing a full range of services to independent distributors including broker/dealers, IMOs, and other financial service providers. Security Benefit is indirectly controlled by Guggenheim Partners, LLC. To learn more about Security Benefit, visit www.securitybenefit.com.
In all states except New York, the EliteDesigns Variable Annuity (form V6029) is a flexible purchase payment deferred variable annuity issued by Security Benefit Life Insurance Company (SBL). In New York, the EliteDesigns Variable Annuity (form FSB242 (1-07)) is a flexible purchase payment deferred variable annuity issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. Variable annuities are distributed by Security Distributors, Inc. (SDI). SDI is a wholly-owned subsidiary of SBL. FSBL and SBL are wholly owned subsidiaries of Security Benefit Corporation ("Security Benefit"). Security Benefit is indirectly controlled by Guggenheim Partners, LLC. EliteDesigns may not be available in all states. As the issuer of EliteDesigns, the obligations under the EliteDesigns Variable Annuity are solely those of the issuing insurer (and no other entity's). SBL is not authorized in the state of New York and does not transact the business of insurance in the state of New York.
Annuities are long-term investments suitable for retirement investing.
You should consider the investment objectives, risks, and charges and expenses of the investment options available under the Variable Annuity carefully before investing. You may obtain a prospectus that contains this and other information about the investment options or Variable Annuity by calling our Service Center at 1-800-888-2461. You should read the prospectus carefully before investing. Investing in variable annuities involves risk and there is no guarantee of investment results.
*It is important to note that while taxes on amounts invested in a variable annuity are deferred until withdrawn, withdrawals are subject to ordinary income tax and, if made prior to age 59½, may be subject to a 10% IRS penalty tax. Conversely, earnings from investments that do not offer tax deferral are taxed currently, and withdrawals from such an investment are not subject to the penalty tax.
Source: Security Benefit