The newly-formed Longevity Council brings together representatives from the nation’s top insurance and wealth management companies, including Nationwide Insurance, AIG, and other industry leaders. Members of the Council will collaborate closely with Advisor Group to roll out new services and solutions that directly address the financial risks associated with longer lifespans – including outliving retirement savings, prolonged healthcare costs, and uncertainties surrounding Social Security.
Specifically, the Longevity Council will focus on the following:
- Conducting market research to identify key demographic and industry trends that are contributing to long-term financial longevity risk;
- Driving awareness of the key role insurance plays in any successful holistic financial plan and its crucial function as a wealth management solution, rather than simply as a product;
- Educating both financial advisors and investors to encourage behavior that mitigates longevity risk, with a particular focus on Baby Boomers and younger investors;
- Providing a source of thought leadership to the industry on issues related to increased investor longevity and the attendant challenges and opportunities.
Advisor Group President & CEO Jamie Price, who will serve as the Longevity Council’s Chairman, said, “Progress in medicine and healthcare has created longer average life expectancy rates than ever before. While there’s much to celebrate here, it also raises new challenges for the retail financial advice industry. The more our industry puts off addressing this looming ‘longevity challenge,’ the more we risk becoming a society of long-lived people with insufficient financial means to carry us through our senior years.”
The Longevity Council will meet four times per year with Advisor Group’s leadership team to brainstorm and implement innovative approaches to longevity planning, products and platforms. At this time, the following executives have committed to serving on the Longevity Council, which is expected to total up to 16 members by the end of 2017:
- Allianz Life Insurance Company of North America – Corey Walther, Head of Business Development & Distribution Relationship Management
- American International Group, Inc. (AIG) – Todd Solash, President, Individual Retirement
- AXA Distributors – Kevin Kennedy, Managing Director, Head of Individual Annuity
- Brighthouse Financial – Jerry Nigro, Vice President, Distribution Support
- Global Atlantic Financial Group – Simeon Hernandez, Senior Vice President, Head of Retirement Business Development
- Great-West Financial – Greg Alberti, Vice President, Head of Strategic Relationship Management
- Nationwide Insurance – Ron Ransom, Senior Vice President, Integrated Relationship Strategies
- Ohio National – Marty Griffin, SVP, Institutional Sales
- Pacific Life – Chris van Mierlo, Chief Marketing Officer
- Sammons Financial Group – Bill Lowe, President, Sammons Retirement Solutions
- Transamerica Capital, Inc. – Mark Halloran, Managing Director Business Development
- Voya Financial – Jim Ryan, Vice President Relationship Management Voya Annuities &Individual Life
Mr. Price concluded, “The longevity crisis is arguably one of the largest challenges our nation faces today, and one of the best examples of how the retail financial services industry can be a powerful force for progress and create solutions to broader social challenges. We look forward to making a difference on this issue in cooperation with some of the most accomplished product and platform providers in our industry today.”
For media inquiries, please contact [email protected].
About Advisor Group
Advisor Group Inc. is one of the nation’s largest networks of independent financial advisors serving over 5,000 advisors and overseeing approximately $190 billion in client assets. Headquartered in Phoenix, AZ, the firm is mission-driven to support the heroic role that advisors can play in the lives of their clients, offering securities and investment advisory services through its subsidiaries FSC Securities Corp., Royal Alliance Associates Inc., SagePoint Financial Inc. and Woodbury Financial Services Inc, as broker/dealers, registered investment advisors and members of FINRA and SIPC. Cultivating a spirit of entrepreneurship and independence, Advisor Group champions the enduring value of financial advisors and is committed to being in their corner every step of the way.
For more information, please visit www.advisorgroup.com.
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SOURCE Advisor Group
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