Primerica has launched the Primerica Advisors Lifetime Investment Platform, providing clients with access to fee-based asset management services that are focused on helping Main Street clients achieve their goals and objectives throughout their investing lifecycle.
Primerica’s platform has both strategic and tactical portfolios constructed with exchange traded funds, mutual funds and other investment products built by some of the leading money managers in the industry, including Horizon Investments, Invesco, Lockwood Advisors, Meeder Investment Management, Morningstar Investment Management and Sage Advisory.
Approximately 3,200 of Primerica’s 18,000 US mutual fund licensed representatives are also investment advisor representatives and will be able to offer the new products.
“Our new platform incorporates state-of-the-art technology and significantly expanded product offerings from leading investment strategists. Importantly, it provides new ways for Primerica representatives to serve their clients by offering investment portfolios specifically constructed to solve the accumulation, protection, and income needs of each client,” says Bill Kelly, president of PFS Investments. “Working together, clients and their Primerica advisers will use the platform's guiding technology to align manager selection with a client’s preferences and investing needs. The new platform will give our representatives the ability to blend portfolio strategies, thereby providing a new world of opportunities to both new and existing clients.”
As part of its organic growth strategy, Primerica works to meet the evolving needs of Main Street families by growing distribution and selectively adding products. Primerica CEO Glenn Williams says the company continues to successfully execute against this strategy and that the timing is right for this major platform introduction.
“Given the strong distribution and sales momentum we’ve achieved in the early months of 2017, we believe this is the ideal time to expand our investment and savings products with the launch of our new platform,” says Williams. “In the first quarter of 2017, we saw a 9 per cent year-over-year increase in the size of our life insurance licensed sales force, taking our total to 117,907 representatives as of 31 March 2017.
“Sales force growth led to solid distribution and production results in this year’s first quarter compared to the prior year period, including an expected 12 per cent increase in recruiting of new representatives; a 13 per cent increase in new life insurance licenses; a 6 per cent increase in issued term life insurance policies; and a 9 per cent increase in issued term life face amount. In our investment and savings product segment, first quarter 2017 sales were up approximately 15 per cent over the prior year period. I am proud of the leadership provided by our sales representatives and their outstanding performance so far in the year. We look forward to better serving our investment clients with our dynamic new platform.”