Jefferson National Announces Inclusion of Monument Advisor Variable Annuity on Pershing Advisor Solutions' NetX360TMPlatformA Leading RIA Platform and Flat-Insurance Fee VA Partner to Help Fee-Based Advisors Create Value and Streamline Business
New York, NY and Louisville, KY - November 11, 2010 - Jefferson National, innovator of the industry's first flat-insurance fee variable annuity (VA)1, announces the inclusion of the Monument Advisor VA on Pershing Advisor Solutions' NetX360™, an innovative open-architecture technology platform for fee-based advisors including independent registered investment advisors (RIAs), introducing broker-dealer firms and dually registered advisors.
Through this partnership, fee-based advisors using NetX360 can now consolidate clients' Jefferson National Monument Advisor variable annuity contract data within their clients' brokerage accounts, allowing the valuation of the VA contracts to be updated in real time on their workstation and to be reported on clients' brokerage account statements. By integrating their fee-based variable annuity business onto a single workstation alongside their other business, this innovative solution can help RIAs process, service, and maintain annuity contracts and client accounts in a more efficient and effective manner.
"Pershing continues to serve the rapidly growing segment of fee-based advisors by creating this link with Jefferson National, a recognized innovator in the RIA market," said Mark Tibergien, CEO, Pershing Advisor Solutions LLC. "Integrating data from the industry's first VA with a flat-insurance fee on the NetX360 platform helps fee-based advisors to streamline their practice and better serve their clients."
"What impressed us most about Pershing Advisor Solutions and NetX360 is their diligent focus on meeting the needs of the fee-based advisors with greater choice, superior value and sophisticated technology," said Laurence Greenberg, President of Jefferson National. "We have seen first hand how Pershing listens to what fee-based advisors want and gives them the products, tools and technology they demand."
NetX360 enables registered investment advisors to increase efficiency, grow their business and enhance compliance oversight. NetX360 also provides the ability to fully integrate front- and back-office functionality from an unprecedented number of best-in-class, third-party solution providers across a broad array of critical business areas, including relationship management, compliance monitoring, trading, clearing and settlement, performance reporting and rebalancing. Advisors interested in integrating Jefferson National VAs via NetX360 can visit www.jeffnat.com or call the Jefferson National Advisor Support Desk's exclusive number for Pershing advisors at 877-893-1833.
Jefferson National's Monument Advisor is recognized as the lowest-cost retirement vehicle on the market1 and the number-one RIA-sold VA for three consecutive years according to Morningstar VARDS Data.2 Jefferson National's Monument Advisor offers more than 250 investment options, the industry's largest selection of tax-deferred funds and five times more underlying funds than the typical VA,3 including top performing bond funds from PIMCO, ultra low-cost funds from Vanguard and Dimensional Fund Advisors, a range of alternative asset classes, as well as ProFunds and Rydex funds designed for dynamic trading. Jefferson National also offers the industry's most subaccounts with the Five Star and Four Star Morningstar Rating for a second consecutive year.4
With a flat-insurance fee of $20 per month5 no matter how much clients invest6, Jefferson National's Monument Advisor is uniquely positioned to meet the needs of the rapidly growing market of RIAs and independent fee-based and fee-only advisors. According to Cerulli Associates, the Fee-Based Advisory market is one of the fastest-growing segments in the industry, with assets topping more than $7.2 Trillion as of 20087, and more than 65% of brokers surveyed said they would be interested in going independent.8
1For a $25,000 contract, Monument Advisor's $20 per month insurance fee is lower than 87% of all variable annuity insurance charges. For a $100,000 contract, the $20 insurance fee is lower than all variable annuity insurance charges (Morningstar data as of 12/31/08). 2Morningstar VARDS data as of 12/31/0, 12/31/08, 12/31/09. 3Morningstar data as 12/31/09. 4Morningstar data as of 07/15/10. 5Jefferson National's Monument Advisor has a $20 monthly flat insurance fee with no transaction fees on more than 97% of underlying funds. Additional fees ranging from $19.99-$49.99 will be assessed for investors wishing to purchase shares of ultra low-cost funds. See the prospectus for details. Like other variable annuities, the customer pays fees of the underlying funds selected plus the fees of any advisor hired. 6Contributions in excess of $10 million are subject to Company approval. 7Cerulli "Quantitative Update: Intermediary Markets," 2009. 8Cerulli Quantitative Update: Advisor Metrics,” 2008.
About Pershing Advisor Solutions
Pershing Advisor Solutions LLC (member FINRA/SIPC) is an affiliate of Pershing LLC and a leading custodian to independent registered investment advisors and dually registered advisors working in conjunction with many of Pershing LLC's introducing broker-dealer customers. Pershing LLC (member FINRA/NYSE/SIPC), a BNY Mellon company, is committed to delivering dependable operational support, robust trading services, flexible technology, an expansive array of investment solutions, practice management support and service excellence. Through an innovative custody platform, Pershing Advisor Solutions delivers superior expertise and scalable and customizable solutions to help independent registered investment advisors manage and grow their businesses. Additional information is available at www.pershingadvisorsolutions.com.