Trust Company of America and Jefferson National are partnering to provide RIAs and fee-based advisors with access to low-cost, no-load, tax-advantaged investing solutions, Trust Company of America announced Wednesday.
The alliance integrates Jefferson National’s Monument Advisor—a flat-fee, investment-only variable annuity that has 350 underlying funds—with TCA’s portfolio management and trading platform. The partnership is designed to allow RIAs and fee-based advisors to build and manage multiple investing strategies within a single tax-advantaged account and trade them in an efficient, cost-effective manner.
“We’re excited by the partnership with Jefferson National and the opportunity to bring a fully integrated tax-advantaged investing solution to the Trust Company of America platform,” says Joshua Pace, president and CEO of TCA. “This alliance enables RIAs and their clients to improve after-tax performance using the power of tax deferral and asset location on TCA’s best-in-class custody platform.”
While RIAs are typically skeptical of traditional variable annuities because of their high cost, Jefferson National’s Monument Advisor replaces the asset-based insurance fees with a flat $20 a month fee. The new capabilities are also designed to allow advisors to trade and rebalance efficiently and provide more investment diversification for clients.