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Annuities
Generate reliable retirement income or save for retirement with variable annuities' unique combination of insurance and investments.
What is an Annuity
An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time. The period of time when an annuity is being funded and before payouts begin is referred to as the accumulation phase. Once payments commence, the contract is in the annuitization phase.
Annuity Types
Annuities can be structured according to a wide array of details and factors, such as the duration of time that payments from the annuity can be guaranteed to continue. Annuities can be created so that, upon annuitization, payments will continue so long as either the annuitant or their spouse (if survivorship benefit is elected) is alive. Alternatively, annuities can be structured to pay out funds for a fixed amount of time, such as 20 years, regardless of how long the annuitant lives. Furthermore, annuities can begin immediately upon deposit of a lump sum, or they can be structured as deferred benefits.
Annuities can be structured generally as either fixed or variable. Fixed annuities provide regular periodic payments to the annuitant. Variable annuities allow the owner to receive greater future cash flows if investments of the annuity fund do well and smaller payments if its investments do poorly. This provides for a less stable cash flow than a fixed annuity, but allows the annuitant to reap the benefits of strong returns from their fund's investments.
One criticism of annuities is that they are illiquid. Deposits into annuity contracts are typically locked up for a period of time, known as the surrender period, where the annuitant would incur a penalty if all or part of that money were touched. These surrender periods can last anywhere from two to more than 10 years, depending on the particular product. Surrender fees can start out at 10% or more and the penalty typically declines annually over the surrender period.
While variable annuities carry some market risk and the potential to lose principal, riders and features can be added to annuity contracts (usually for some extra cost) which allow them to function as hybrid fixed-variable annuities. Contract owners can benefit from upside portfolio potential while enjoying the protection of a guaranteed lifetime minimum withdrawal benefit if the portfolio drops in value. Other riders may be purchased to add a death benefit to the contract or accelerate payouts if the annuity holder is diagnosed with a terminal illness. Cost of living riders are common to adjust the annual base cash flows for inflation based on changes in the CPI.
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Generate reliable retirement income or save for retirement with variable annuities' unique combination of insurance and investments.
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Please read the Athena Equity Intelligent Portfolios Disclosure Brochures for important information, pricing, and disclosures relating to Athena Equity Intelligent Portfolios.
There is no advisory fee or commissions charged for the Athena Equity Intelligent Portfolios Program. Investors do pay direct and indirect costs. These include ETF operating expenses which are the management and other fees the underlying ETFs charge all shareholders. The portfolios include a cash allocation to a deposit account at Athena Equity Bank. Our affiliated bank earns income on the deposits, and earns more the larger the cash allocation is. The lower the interest rate Athena Equity Bank pays on the cash, the lower the yield. Some cash alternatives outside of Athena Equity Intelligent Portfolios pay a higher yield. Deposits held at Athena Equity Bank are protected by FDIC insurance up to allowable limits per depositor, per account ownership category. Athena Equity Intelligent Portfolios invests in Athena Equity ETFs. A Athena Equity affiliate, Athena Equity Investment Management, receives management fees on those ETFs. Athena Equity Intelligent Portfolios also invests in third party ETFs. Athena Equity receives compensation from some of those ETFs for providing shareholder services, and also from market centers where ETF trade orders are routed for execution. Fees and expenses will lower performance, and investors should consider all program requirements and costs before investing. Expenses and their impact on performance, conflicts of interest, and compensation that Athena Equity and its affiliates receive are detailed in the Athena Equity Intelligent Portfolios disclosure brochures.
Athena Equity Intelligent Portfolios is made available through Athena Equity & Co., Inc. ("ATEQ") a dually-registered investment adviser and broker dealer. Portfolio management services are provided by Athena Equity Investment Advisory, Inc. ("ATEQIA"). Athena Equity and ATEQIA are affiliates and subsidiaries of The Athena EquityCorporation.
Please read the Athena Equity Intelligent Advisory ™ disclosure brochure for important information about this program.
Athena Equity Intelligent Advisory ™ is made available through Athena Equity& Co., Inc. (“ATEQ”), a dually registered investment advisor and broker-dealer. Portfolio management services for Athena Equity Intelligent Portfolios® are provided by Athena Equity Investment Advisory, Inc. (“ATEQIA”), a registered investment advisor. ATEQIA and Athena Equity are subsidiaries of the Athena Equity Corporation.
Athena Equity Intelligent Advisory charges no commissions or account service fees. Athena Equity affiliates do earn more revenue from the underlying assets in Athena Equity Intelligent Portfolios accounts. The revenue comes from managing Athena Equity ETFs ™ and providing services relating to certain third party ETFs that can be selected for the portfolio, and from the cash feature on the accounts. Revenue may also be received from the market centers where ETF trade orders are routed for execution.
The Managed Account Select program is sponsored by ATEQ. Please read the Athena Equity Managed Account Services™ Disclosure Brochure for important information and disclosures. In addition, please read the participating manager's disclosure brochure, including any supplements, for important information and disclosures. Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio. Services may vary depending on which money manager you choose and are subject to a money manager's acceptance of the account.
Diversification strategies do not ensure a profit and do not protect against losses in declining markets. Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio.
Please read ATEQ’s SMP Disclosure Brochure for important information and disclosures relating to Athena Equity Managed Portfolios.
Portfolio management for Athena Equity Managed Portfolios is provided by Athena Equity Investment Advisory, Inc. ("ATEQIA"), an affiliate of Athena Equity and Co., Inc. ("ATEQ").
Please read the Athena Equity Private Client and the Athena Equity Private Client Investment Advisory, Inc. Disclosure Brochures for important information and disclosures about SPC. Portfolio management for SPC is provided by Athena Equity Private Client Investment Advisory, Inc., a registered investment advisor and an affiliate of ATEQ.
Athena Equity Advisor Network member advisors are independent and are not employees or agents of ATEQ. Athena Equity prescreens advisors and checks their experience and credentials against criteria Athena Equity sets, such as years of experience managing investments, amount of assets managed, professional education, regulatory licensing, and business relationship as a client of ATEQ. Advisors pay fees to Athena Equity in connection with referrals. ATEQ does not supervise advisors and does not prepare, verify, or endorse information distributed by advisors. Investors must decide whether to hire an advisor and what authority to give him or her. Investors, not ATEQ, are responsible for monitoring and evaluating an advisor’s service, performance, and account transactions. Services may vary depending on which advisor an investor chooses.
Satisfaction Guarantee
If you are not completely satisfied for any reason, at your request Athena Equity & Co., Inc. (“ATEQ”), Athena Equity Bank ("Athena Equity Bank"), or another Athena Equity affiliate, will refund any eligible fee related to your concern within the timeframes described below. Two kinds of “Fees” are eligible for this guarantee: (1) asset‐based “Program Fees” for the Athena Equity Private Client (“SPC”), Athena Equity Managed Portfolios (“SMP”), Athena Equity Intelligent Advisory (“SIA”), and Managed Account Connection (“Connection”) investment advisory services sponsored by Athena Equity (together, the “Participating Services”); and (2) commissions and fees listed in the Athena Equity Pricing Guide for Individual Investors and the Athena Equity Bank Deposit Account Pricing Guide (together, "Account Fees"). Program Fee refund requests must be received no later than the next calendar quarter after the Fee was charged. Account Fee refund requests must be received within one year of the date that the Fee was charged.
Program Fees are calculated as a percentage of eligible assets in Participating Service accounts. For more information about Program Fees, please see the disclosure brochure for the Participating Service, made available at enrollment or any time at your request. The Connection service includes only accounts managed by Athena Equity Investment Advisory, Inc., an affiliate of ATEQ. The guarantee does not cover Program Fees for accounts managed by investment advisors who are not affiliated with Athena Equity or managed by ATEQ‐affiliated advisors outside of the SPC, SMP, SIA and Connection services.
The guarantee is only available to current clients. Refunds will only be applied to the account charged and will be credited within approximately four weeks of a valid request. No other charges or expenses, and no market losses will be refunded. Other restrictions may apply. Athena Equity reserves the right to change or terminate the guarantee at any time.