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Broadridge Fi360 Solutions, data provider Cannex, and Fiduciary Insurance Services have teamed to initiate a Lifetime Income consortium to promote the need for guaranteed income options within retirement plans.
Broadridge Fi360 Solutions’ Head John Faustino said between eight and 10 firms have expressed strong interest in participating, and Nationwide and Alliance Bernstein have already committed.
“This initiative is targeted at catalyzing lifetime income adoption for the industry overall,” Faustino explained. “We believe that by working together, we can create a rising tide that will lift all ships.”
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