Further optionality for customers of FlexGuard
NEWARK, N.J., April 1, 2021 – Prudential Financial, Inc. (NYSE: PRU) added two of the largest exchange-traded funds (ETFs)—the Invesco QQQ ETF (NASDAQ: QQQ), which tracks the Nasdaq-100 Index, and the BlackRock iShares Russell 2000 ETF (NYSE: IWM)—as options within the crediting strategies of Prudential’s FlexGuard® indexed variable annuity. These additions, in partnership with Invesco and BlackRock, add further optionality for customers of FlexGuard.
FlexGuard is the fastest-selling product of its kind from launch, achieving close to $2 billion in sales in less than eight months¹, according to annuity sales data from the Secure Retirement Institute. It is designed to provide customers with partial downside protection and the opportunity to grow and accelerate the performance of their assets into the future. FlexGuard’s index strategies allow customers to select strategies providing the potential to accelerate gains above and beyond the index return when certain targets are met. Importantly, FlexGuard is designed to adapt with consumers’ needs, allowing periodic changes to investment length, protection level and growth strategies, as the markets shift, and individual financial goals evolve.
“We are deeply committed to offering strategies that help customers grow and protect their invested assets. This is key to helping them achieve the outcomes that matter most in life,” said Dylan Tyson, president of Prudential Annuities. “Providing new ways to gain exposure to the largest and most innovative companies on the Nasdaq or to U.S. small cap companies in the Russell 2000 gives our customers more choice as they build a diversified portfolio and manage risk. These new options nicely build on the broad market investment opportunities already available in FlexGuard.”
“Invesco is pleased to strengthen our partnership with Prudential by offering access to Invesco QQQ, a leading innovative ETF that provides access to the non-financial companies in the Nasdaq 100,” said Clint Harris, Invesco head of Wealth Management Platforms. “We are committed to delivering our best ideas, solutions and capabilities to clients, as well as providing access to innovative strategies that help diversify portfolios.”
“We are pleased to partner with Prudential and FlexGuard with the placement of the iShares Russell 2000 ETF (IWM), reflecting our commitment to continued innovation in the insurance space. The iShares Russell 2000 ETF holds some of the fastest-growing small cap companies in addition to being the most liquid small cap ETF. We believe Prudential’s insurance solutions, coupled with BlackRock’s investment expertise, can serve to improve retirement outcomes for clients,” said Matt Soifer, managing director, head of Distribution within BlackRock’s Retirement Group.
For more information on FlexGuard, visit www.prudential.com/myflexguard.
About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.
¹As stated in Prudential 4 Quarter 2020 earnings call February 5, 2021.
Variable annuities are issued by Prudential Annuities Life Assurance Corporation located in Shelton, CT (main office). Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Prudential Annuities is a business of Prudential Financial, Inc.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional.
Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details.
Guarantees are dependent upon the claims-paying ability of the issuing company and do not apply to the underlying investment options.
Investors should consider the features of the contract, index strategies, and the underlying portfolios investment objectives, polices, management, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained from your financial professional. Please read the prospectus carefully before investing.
Invesco QQQ ETF: Invesco Capital Management LLC ("ICM") serves as sponsor of Invesco QQQ TrustSM, Series 1 ("Invesco QQQ ETF") and Invesco Distributors, Inc. ("IDI"), an affiliate of ICM serves as distributor for Invesco QQQ ETF. The mark "Invesco" is the property of Invesco Holding Company Limited and is used under license. That trademark and the ability to offer a product based on Invesco QQQ ETF have been licensed for certain purposes by Prudential Annuities Life Assurance Corporation and its wholly-owned subsidiaries and affiliates (collectively, "Prudential"). Products offered by Prudential are not sponsored, endorsed, sold or promoted by ICM or Invesco Holding Company Limited, and purchasers of such products do not acquire any interest in Invesco QQQ ETF nor enter into any relationship with ICM or its affiliates. ICM makes no representations or warranties, express or implied, to the owners of any products offered by Prudential. ICM has no obligation or liability for any errors, omissions, interruptions or use of Invesco QQQ ETF or any data related thereto, or with the operation, marketing trading or sale of any products or services offered by Prudential.
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and QQQ®, are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use for certain purposes by Prudential Annuities Life Assurance Corporation and its wholly-owned subsidiaries and affiliates (collectively, "Prudential"). Prudential FlexGuard® ("Product") has not been passed on by the Corporations as to their legality or suitability. The Product is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
The iShares® Russell 2000 ETF is distributed by BlackRock Investments, LLC. iShares® and BlackRock®, and the corresponding logos, are registered trademarks of BlackRock, Inc. and its affiliates ("BlackRock") and are used under license. BlackRock has licensed certain trademarks and trade names of BlackRock to Prudential Annuities Life Assurance Corporation for certain purposes. Prudential Annuities Life Assurance Corporation's products and services are not sponsored, endorsed, sold, or promoted by BlackRock, and purchasers of such products do not acquire any interest in the iShares® Russell 2000 ETF nor enter into any relationship of any kind with BlackRock. BlackRock makes no representations or warranties, express or implied, to the owners of any products offered by Prudential Annuities Life Assurance Corporation or any member of the public regarding the advisability of purchasing any product or service offered by Prudential Annuities Life Assurance Corporation. BlackRock has no obligation or liability for any errors, omissions, interruptions or use of the iShares® Russell 2000 ETF or any data related thereto, or in connection with the operation, marketing, trading or sale of any Prudential Annuities Life Assurance Corporation product or service offered by Prudential Annuities Life Assurance Corporation.
All rights in the Russell®2000 Index (the "Index") vest in the relevant LSE Group company which owns the Index. Russell®2000 is a trademark of the relevant LSE Group company and is used by any other LSE Group company under license.
The Index is calculated by or on behalf of Frank Russell Company or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of Prudential FlexGuard®. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from Prudential FlexGuard® or the suitability of the Index for the purpose to which it is being put by Prudential Annuities Life Assurance Corporation.