NAPFA and Hueler Companies Partner to Provide Fee-Only Advisors Access to Low Cost, High Quality Retirement Income Products via the Income Solutions® Platform
September 22, 2007 (PRLEAP.COM) Business News
ARLINGTON HEIGHTS, IL (September 22, 2007) – For the first time, a platform for the purchase of institutionally priced immediate annuities is becoming available to Fee-Only financial advisors to help them better serve the growing retirement income planning needs of consumers.The National Association of Personal Financial Advisors (NAPFA), the country’s leading association of Fee-Only financial advisors, and its 1,700 members are on the forefront of identifying ways to best serve the interests of consumers as they move into retirement. To this end, NAPFA is pleased to announce it has partnered with Hueler Companies, provider of the Income Solutions® platform, making NAPFA the first professional association to offer members access to institutionally-priced immediate annuities.
Income Solutions®, created by Hueler Companies located in Minneapolis, MN, is an institutionally priced web-based immediate annuity purchase platform for IRA rollover assets. The partnership will provide NAPFA-Registered Financial Advisors access to the Income Solutions® quoting platform previously only available to individuals through retirement plan administrators and plan sponsors.
“We applaud Kelli Hueler and the insurance companies involved for taking this huge step towards providing competition and greater transparency of fees in annuity products,” said Ellen Turf, CEO of NAPFA. “This is extremely positive for the everyday consumer.”
By having access to this unique platform, NAPFA advisors can request lifetime income annuity quotes on behalf of their clients at lower prices than what is typically available through retail distributors. All annuity products offered on the Income Solutions® platform can be customized to meet an individual’s personal objectives, are competitively quoted, and provide full fee disclosure.
Some of the companies whose products can be accessed through Income Solutions® include, AIG Life Insurance Company, Hartford Life Insurance Company, Integrity Life Insurance Company, Mutual of Omaha, Principal Life Insurance Company, and Prudential Insurance Co. of America.
“Hueler and NAPFA share a common vision that seeks to empower individual investors with the tools, knowledge, and resources necessary to create retirement income security,” said Kelli Hueler, CEO of Hueler Companies. “Together we hope to meaningfully impact the financial future of millions of Americans”.
As a result of this partnership, NAPFA-Registered Financial Advisors will have access to the Income Solutions® platform by the end of September.
Paula H. Hogan, CFP®, CFA of Hogan Financial Management, LLC in Milwaukee, WI, believes, “The alliance between NAPFA and Hueler to offer Income Solutions® brings competitive, transparent pricing to individual investors for the next generation of personal investment products. In addition, it creates access to inflation-protected, lifetime income streams for consumers. This is a groundbreaking contribution to the public interest that will change our industry.”
NAPFA and Hueler are concerned that too many people may outlive their retirement savings and don’t have access to investment vehicles that can help them reverse this trend. With 70 million boomers entering retirement, the need for access to such products is growing. NAPFA advisors using the Income Solutions® platform will be leading the charge in helping consumers achieve their long-term retirement objectives.
Zvi Bodie, the Norman and Adele Barron Professor of Management at Boston University and author of Worry-Free Investing: A Safe Approach to Achieving Your Lifetime Financial Goal, added, “This is wonderful news for those of us who believe that ordinary Americans deserve a safe, low-cost, way to turn their retirement savings into worry-free inflation-proof retirement income.”
If you are interested in learning more about the partnership between NAPFA and Hueler Companies please contact Ellen Turf, NAPFA’s CEO at (800) 366-2732 or turfe@napfa.org, Kelli Hueler CEO, Hueler Companies at 952-941-5351 or kellih@hueler.com, or Benjamin Lewis of Perception, Inc. at (301) 963-7555 or Benjamin.lewis@perceptiononline.com.
ABOUT THE NATIONAL ASSOCIATION OF PERSONAL FINANCIAL ADVISORS (NAPFA)
Since 1983, The National Association of Personal Financial Advisors (NAPFA) has provided Fee-Only financial planners across the country with some of the strictest guidelines possible for professional competency, comprehensive financial planning, and Fee-Only compensation. With more than 1,700 members across the country, NAPFA is the leading professional association in the United States dedicated to the advancement of Fee-Only comprehensive financial planning.
For more information on NAPFA, please visit www.NAPFA.org.
ABOUT HUELER COMPANIES AND INCOME SOLUTIONS®
Hueler Companies, Inc. and its affiliates (together, the Hueler Companies), located in Minneapolis, Minnesota, was founded in 1987 as an investment consulting and data research firm. Today, Hueler Companies is a leading technology and research firm offering key resources for the analysis, research and implementation of stable value and annuity products. In 2004, Hueler Investment Services, Inc. launched Income Solutions® a web-based immediate annuity purchase platform designed as “best practice” purchase model that allows individuals to purchase institutionally priced annuities with their rollover IRA assets. The Income Solutions® program was created specifically for “Transitioning Investors” (both active employees and retirees) who have reached a point in their lives where they want or need to convert a portion of their "nest egg" or retirement assets into a reliable income stream.
For more information, please visit www.IncomeSolutions.com.
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