According to a press release from State Street Global Advisors, they will now be working closely with Lincoln Financial Group’s variable life and annuity business. In “State Street Global Advisors Expands Innovation within Lincoln Financial Group’s Variable Life and Annuity Solutions,” we learn that the investment management business will sub-advise Lincoln’s variable investment options. Lincoln’s new Variable Insurance Product uses many exchange traded funds that are currently part of State Street’s fund management. Eight different variable annuity ETF’s sub-advised by State Street and currently offered by Lincoln are used along with State Street’s SPDR(R) ETF’s.
Lincoln is excited to offer their investment clients sophisticated options in the insurance industry, including what they view as some of the best annuities. August 2 was the date that State Street took over as Lincoln’s sub-advisor. Since ETF’s have a relatively low cost and many trading and other benefits, their demand in the variable life and annuity business has been increasingly high. State Street focuses on clients when determining solutions and believes that their partnership with the innovative Lincoln Financial will not only help financial advisors, but investors as well. Both companies are hopeful that this new partnership will grow their businesses and keep their clients moving in the right direction.
