ING Teams with Hueler Investment Services to Offer Annuity for Transitioning Investors |
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Written by U.S. Insurance News
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Monday, 14 April 2008 |
ING is reaching out to a niche market with its latest partnership-"transitioning investors."
The company's decision means more choice for those investors.
ING has teamed with Hueler Investment Services, Inc., to offer ING Income Provider, a single premium fixed immediate annuity, on Hueler's Income Solutions® platform.
Income Solutions is a Web-based immediate annuity purchase system designed as an IRA rollover option. It allows individuals to purchase institutionally priced annuities with their defined contribution plan assets, and it makes it easier for plan providers and sponsors to provide their employees and retirees with a way to convert part of their workplace savings into a guaranteed source of retirement income.
Income Solutions was created specifically for transitioning investors, employees and retirees who want or need to convert a portion of their retirement funds into a reliable income stream.
"We are delighted to be partnering with Hueler to broaden their platform offering to plan providers and sponsors," said Sri Reddy, head of Retirement Income Strategies for ING Wealth Management. "As Baby Boomers move from accumulation to distribution of their retirement funds, they are looking for products that will create a lifetime income stream. Annuity products allow individuals to create a steady stream of income that is guaranteed for life."
Kelli Hueler, CEO of Minneapolis-based Hueler Investment Services, Inc., said that ING's reputation was a deciding factor in her company's decision to partner with ING.
"ING's size, credit-worthiness, and experience in institutional markets were critical in determining their participation on the Income Solutions platform," Hueler said. "With the addition of ING, the Income Solutions platform is now able to offer transitioning investors choice from up to ten high quality providers."
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