Saybrus Partners Launches Plan Right Partners
February 23, 2011 by Alice Ericson
Select firms to offer clients “Plan Right, Retire Right” planning program
HARTFORD, Conn.–(BUSINESS WIRE)–Saybrus Partners, Inc., a subsidiary of The Phoenix Companies, Inc. (NYSE: PNX), today announced that it has formed the Plan Right Partners group of distribution firms that will have exclusive access to Phoenix’s “Plan Right, Retire Right” program. The firms also will be exclusive distributors of the Phoenix Reflections and Phoenix Reflections Gold Series of single-premium indexed annuities, in addition to other products offered by Phoenix and other financial services companies.
“We are excited to work with the Plan Right Partner firms as they help their clients sort through many of the considerations and options for a secure retirement”
“We are excited to work with the Plan Right Partner firms as they help their clients sort through many of the considerations and options for a secure retirement,” said Edward W. Cassidy, managing principal of Saybrus Partners and Phoenix’s executive vice president of distribution.
Initially, there are eight Plan Right Partner firms located across the U.S., and several more could join in 2011.
Phoenix’s Plan Right, Retire Right program includes formats for both group seminars and individual discussions between financial advisors and their clients. Both help explain key considerations when preparing a retirement income plan and how various funding vehicles, including annuities, can fit into that plan. Risks and realities such as longevity, inflation and market volatility are covered, followed by a review of income sources for essential and discretionary expenses and the product vehicles that could be used to plan for each.
“Retirement planning is never a ‘one size fits all’ proposition, and finding the right solution for an individual requires a methodical look at each unique situation. Even the definition of ‘essential’ versus ‘discretionary’ expenses is going to vary from person to person, so it is important to direct retirement assets to a product that will provide dependable income and adequate financial resources when they are needed,” said Mark S. Fitzgerald, National Sales Manager for Saybrus Partners, who developed the Plan Right, Retire Right program.
“Many annuities in the marketplace today provide the features and flexibility that can meet a range of retirement income needs, and Plan Right, Retire Right can help consumers identify what is best for them,” Fitzgerald said.
In addition to the retirement planning program, Plan Right Partner firms will have access to a broad portfolio of Phoenix products and exclusive distribution for Phoenix’s Reflections and Reflections Gold suites of single premium indexed annuities. They offer:
- An up-front premium bonus option of 5% with Reflections and 10% with Reflections Gold
- Five indexed accounts, including Domestic and Global Lookback selections that give greater weight to better-performing indices in the calculation of index credits
- Optional Guaranteed Minimum Withdrawal Benefit (GMWB) riders with designs for immediate or longer-term income time horizons
- Seven annuity payment options
- Guaranteed death benefit
To learn more about Plan Right Partners and annuity products available from Phoenix, agents and financial advisors can contact the Sales Desk at Saybrus Partners at 888-794-4447, or visit www.phoenixwm.com.
ABOUT SAYBRUS PARTNERS
Saybrus Partners, Inc. is an organization of experienced insurance professionals that offers select business partners a unique approach to solutions-based planning. It is a subsidiary of The Phoenix Companies, Inc., with corporate headquarters in Hartford, Connecticut and consulting representatives located across the United States. For more information, visit www.saybruspartners.com.
ABOUT PHOENIX
Dating to 1851, The Phoenix Companies, Inc. (NYSE:PNX) provides financial solutions using life insurance and annuities. Phoenix offers a complete suite of annuity products with a full spectrum of optional guarantees. Phoenix annuity products are designed with maximum flexibility to help customers meet a range of retirement income needs. Saybrus Partners, Inc., Phoenix Life Insurance Company and PHL Variable Life Insurance Company are subsidiaries. For more information, visit www.phoenixwm.com.
Annuities are long-term investment vehicles particularly suitable for retirement assets. Annuities held within qualified plans do not provide any additional tax benefit. Early withdrawals may be subject to surrender charges. Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply.
Non-Security Status Disclosure – The Phoenix Reflections and Phoenix Reflections Gold Contracts have not been approved or disapproved by the Securities and Exchange Commission. The Contracts are not registered under the Securities Act of 1933 and are being offered and sold in reliance on an exemption therein. The Separate Account has not been registered under the Investment Company Act of 1940 and is being offered and sold in reliance on an exemption therein.
Products offering a bonus may offer lower credited interest rates, lower participation rates, lower caps and/or higher spreads, and have higher expenses than products not offering a bonus. A bonus also may be subject to a recapture charge and is not available for immediate withdrawal. Over time, and under certain circumstances, the amount of the bonus may be more than offset by the increased charges, lower credited interest rates, lower participation rates, lower caps and/or higher spreads. Interest rates, participation rates, caps and spreads are subject to change.
Phoenix Reflections Gold (10FIA) and Phoenix Reflections Gold Bonus are issued by PHL Variable Insurance Company (PHLVIC) (Hartford, CT). Guarantees are based on the claims-paying ability of the issuing insurance company. PHLVIC is not authorized to conduct business in New York and Maine.
BPD 37679
Contacts
Phoenix
Alice Ericson, 860-403-5946
alice.ericson@phoenixwm.com
or
CJP Communications
Todd Miller, 203-254-1300 x149
tmiller@cjpcom.com
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