Partnership Brings NexAnnuity Retirement Solutions to NexPoint’s Distribution Network, Providing Strategic Growth Opportunities for Both Businesses
DALLAS – 1/31/2022 – NexPoint Advisors, L.P. (“NexPoint”), a leading alternative investment platform, announced today that it has established a distribution partnership with NexAnnuity Holdings, Inc. (“NexAnnuity”), whose mission is to develop and deliver retirement solutions through its life and annuity insurance subsidiary, The Ohio State Life Insurance Company (“OSLIC”). . Under the partnership, NexPoint will distribute NexAnnuity retirement products through its SEC-registered broker-dealer, NexPoint Securities, Inc. (“NSI”).
The arrangement presents strategic growth opportunities for both organizations. It represents a new product segment for NexPoint that not only adds to but also broadens NexPoint Securities’ current offerings, providing more comprehensive solutions that the distribution team can deliver to its clients. For NexAnnuity, the partnership creates a new distribution channel. NexAnnuity products were primarily distributed by independent insurance agents through independent marketing organizations (IMOs). While IMOs remain one of the top channels for annuity sales, significant changes across the insurance and annuity industry—and the finance and investment landscape overall—have resulted in new distribution trends that are affecting traditional distribution models.
Leading the partnership for NSI is Brian Graime, director of annuity and IMO distribution. Graime, who joined NSI in February 2021, has over 25 years of annuity and insurance industry experience.
“One of NSI’s biggest strengths is the firm’s solutions-oriented approach to distribution. Having worked across every major annuity distribution channel, it’s clear to me that’s where annuities are headed,” said Graime. “I joined NSI to help bring that approach to the annuity and insurance business. The partnership with NexAnnuity is a key step that enables us to realize that vision and help shape the future of the industry.”
NSI’s existing distribution infrastructure provides a strong foundation for the addition of annuities to the platform, supported by a team of more than 35 dedicated regional representatives. Under the direction of Mr. Graime, the firm plans to apply existing processes and product development for its alternative’s platform to annuity and insurance product distribution.
“NexPoint has been successful in applying nimble product development and distribution processes to deliver solutions that meet the evolving needs of clients, as well as major changes underway across the investment industry,” said Brad Heiss, NexAnnuity executive vice president and chief investment officer. “NSI is an ideal distribution partner that will not only extend our reach with a new distribution channel but will also help identify opportunities for improvement and innovation across the retirement landscape that we can work together to address.”
The partnership launches with an initial focus on NexAnnuity’s suite of multiyear guaranteed annuities (MYGAs), the “Nex MYGAs”, offered by OSLIC. Designed for individuals who are already retired or nearing retirement, the Nex MYGAs are fixed annuity offerings available with 3-, 5-, 7-, and 10-year guarantee periods.
NexPoint will provide support to NexAnnuity in product development. Additional products are expected to be added to the offers in the future.
About NexPoint Securities, Inc.
NexPoint Securities, member FINRA/SIPC, is an SEC-registered broker-dealer that serves as the distributor for investment products on the NexPoint platform.
About NexPoint
NexPoint is a leading alternative investment platform that provides differentiated access to alternatives through a range of investment offerings, including publicly traded real estate investment trusts (REITs), Regulation D private placements, 1031 exchanges, closed-end funds, interval funds, and a business development company (BDC). Based in Dallas, Texas, NexPoint is a multibillion-dollar integrated alternative asset manager. NexPoint launched out of an institutional asset management group known as a pioneer in the leveraged loan market. This credit investment expertise served as a cornerstone to the NexPoint platform and provided a solid foundation to evolve the business model and expand their capabilities into real estate, capital markets, and most recently insurance and annuities.
About NexAnnuity
NexAnnuity, through NexAnnuity Holdings, Inc., and its subsidiaries (together “NexAnnuity”), was created to develop and deliver financial solutions that reflect the modern retirement landscape. NexAnnuity operates within an affiliate network of investment advisory and financial services businesses. The network provides strategic advantages for NexAnnuity that support the development, management, and distribution of its annuity products and insurance solutions. For more information, visit www.nexannuity.com.
About Ohio State Life Insurance Company
The Ohio State Life Insurance Company, a NexAnnuity company, has been in operation for over 115 years and holds licenses in 46 states and the District of Columbia. Ohio State Life is a legacy American life insurance business with roots dating back over 100 years. In 1971, Ohio State Life was the first to advance death benefit payments to sustain the life of a policy owner. Today, Ohio State Life offers unique annuity products designed to grow retirement income while protecting principal. We have partnered with best-in-class service providers to deliver industry leading crediting rates for our policy owners.
Risk Disclosures
The information contained herein are provided as general information only and do not constitute a recommendation, offer or solicitation to buy or sell any securities or engage in any particular investment strategy, and should not be considered specific legal, investment or tax advice. Before making a decision or giving advice about any matter contained in this communication, agents or individuals should consult their own attorney, tax or financial professional.
This material is intended to provide educational information regarding the features and mechanics of the products and is intended for use with the general public. It should not be considered, and does not constitute, personalized investment advice. The issuing insurance company is not an investment adviser nor registered as such with the SEC or any state securities regulatory authority. The issuing insurance company is not acting in any fiduciary capacity with respect to any contract and/or investment.
Annuities are issued by The Ohio State Life Insurance Company, Administrative Office PO BOX 25417 Salt Lake City, UT 84125 (“Ohio State Life”). Insurance and annuity products, optional features, and riders are not available in all states and may be subject to firm availability. Annuities contain features, exclusions and limitations that vary by state. Read the contract for complete details. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of Ohio State Life.
ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. ANNUITIES MAY LOSE VALUE AND HAVE NO BANK/CREDIT UNION GUARANTEE. ANNUITIES ARE NOT A DEPOSIT AND ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. ANNUITIES MAY ONLY BE OFFERED BY A LICENSED INSURANCE PRODUCER/AGENT.
This material should not be interpreted as a recommendation by NexAnnuity or Ohio State Life.
“NexAnnuity” and “Nex” are used as marketing names for NexAnnuity Holdings, Inc., its subsidiaries and some affiliates, including The Ohio State Life Insurance Company. Each subsidiary or affiliate is responsible for its own financial and contractual obligations. Certain subsidiaries, including The Ohio State Life Insurance Company, are not authorized to do business in New York.
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