New York-based AXA Equitable and Chicago-based Morningstar Associates have developed a web application, Cornerstone Allocator, to help financial advisors client investment allocation recommendations in AXA's Retirement Cornerstone variable annuity product.
Specifically, it is designed to assist financial professionals in making determinations about how to distribute assets between Retirement Cornerstone's Investment Performance Account and Protection with Investment Performance Account and to allocate assets among the investment options within each account. Financial professionals can generate a client-approved Allocation Report that complements hypothetical illustrations and/or marketing materials provided to the client during the account opening process, according to a statement.
"Retirement Cornerstone has transformed how financial professionals and their clients view the benefits of variable annuities," Nick Lane, president of the Retirement Savings Division of AXA Equitable, says in a statement. "We are thrilled to join forces with Morningstar Associates to develop an application, based on an industry-leading investment methodology that helps financial professionals build customized client allocations tailored to each individual's retirement income needs."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio