NEW YORK, May 11, 2011 /PRNewswire/ -- AXA Equitable Life
Insurance Company announced today the launch of the Cornerstone
Allocator. The company teamed with Morningstar Associates, LLC to
develop this innovative web application that helps financial
professionals tailor client investment allocation recommendations
in the Retirement Cornerstone(SM) variable annuity.
Retirement Cornerstone, introduced in 2010, is a tax-deferred
investment platform that, unlike a traditional annuity, supports
two interactive but distinct accounts – one focused on the
opportunity to maximize investment growth potential through over
100 sub-account fund choices, the other on providing innovative
retirement income protection that can help address the inflationary
impact of rising interest rates.
"Retirement Cornerstone has transformed how financial
professionals and their clients view the benefits of variable
annuities," said Nick Lane,
president of the Retirement Savings Division of AXA Equitable. "We
are thrilled to join forces with Morningstar Associates to develop
an application, based on an industry-leading investment methodology
that helps financial professionals build customized client
allocations tailored to each individual's retirement income
needs."
Cornerstone Allocator serves as a user-friendly guide to
aligning the power of Retirement Cornerstone to each client's risk
profile and income objectives. Specifically, it is designed to
assist financial professionals in making determinations about how
to distribute assets between Retirement Cornerstone's Investment
Performance Account and Protection with Investment Performance
Account and to allocate assets among the many investment options
within each account.
"We are extremely pleased to work with AXA Equitable to help
develop the Cornerstone Allocator," said Peng Chen, president of Morningstar's global
investment management division. "This application allows financial
professionals to view a client's account holistically and propose a
financial strategy that helps balance both the need for safety and
the need for income."
The tool helps financial professionals facilitate Retirement
Cornerstone client reviews and promote understanding of the
objectives behind account and asset allocation choices. Using
Cornerstone Allocator, financial professionals can generate a
client-approved Allocation Report that complements hypothetical
illustrations and/or marketing materials provided to the client
during the account opening process.
The client-facing Allocation Report displays the following
information:
- A review of the client profile responses
- Investment Performance Account and Protection with Investment
Performance Account allocations
- Aggregate and detailed asset allocation summary by Account
- Individual Investment Profiles for the sub-accounts elected
generated by Morningstar
For more information, please call the AXA Distributors Sales
Desk at (888)-517-9900.
About Retirement Cornerstone
Variable annuities are subject to market volatility, including
the loss of principal. Withdrawals from annuities are subject to
ordinary income tax treatment and, if taken prior to age 59 1/2,
may be subject to an additional 10% federal income tax penalty.
Withdrawals from the Retirement Cornerstone annuity may also be
subject to contractual withdrawal charges. The downside protection
account referred to in this release is available as an optional
benefit (the "Guaranteed Income Benefit") in the Guaranteed Benefit
Account within the Retirement Cornerstone variable annuity,
required to be elected at the time of purchase and, when funded, at
an additional cost and subject to certain restrictions and
limitations. Access to guaranteed annual withdrawal amounts starts
after the 5th contract year. Early or excess withdrawals may have
an adverse affect on the guarantee. All guarantees are based on the
claims-paying ability of AXA Equitable. This release does not
contain all material provisions of the Retirement Cornerstone
contract. Certain types of contracts, features, and benefits may
not be available in all jurisdictions.
Consider the charges, risks, expenses and investment
objectives before purchasing a variable annuity. Contact a
financial professional for a prospectus containing this
information. Read it carefully.
Retirement Cornerstone SM, issued by AXA Equitable Life
Insurance Company NY, NY and co-distributed by AXA Advisors, LLC
and AXA Distributors, LLC, is a service mark of AXA Equitable.
About AXA Equitable
In business since 1859, AXA Equitable Life Insurance Company
(NY, NY) is a leading financial protection company and one of the
nation's premier providers of life insurance, annuity, and
financial products and services. The company's products and
services are distributed to individuals and business owners through
its retail distribution channel, AXA Advisors, LLC (member FINRA,
SIPC) and to the financial services market through its wholesale
distribution channel, AXA Distributors, LLC. Find AXA Equitable on
Facebook and Twitter or visit the company's multi-media newsroom
The Source @ AXA Equitable.
AXA Equitable, a subsidiary of AXA Financial Inc., is part of
the global AXA Group, a worldwide leader in financial protection
strategies and wealth management. "AXA Group" refers to AXA, a
French holding company for an international group of insurance and
financial services companies together with its direct and indirect
consolidated subsidiaries. For more information, visit
www.axa-equitable.com.
About Morningstar Associates
Morningstar Associates, LLC is a registered investment advisor
and a wholly owned subsidiary of Morningstar, Inc.
Morningstar Associates, along with Morningstar's other
investment advisory subsidiaries, comprise the Morningstar
Investment Management division. This division provides independent
investment management and consulting services to institutions and
advisors and has approximately $138.7
billion in assets under advisement and management as of
March 31, 2011.
AXA Equitable has entered into a contract with Morningstar
Associates, LLC to provide guidance to representatives with regard
to the Retirement Cornerstone(SM) variable annuity product.
Morningstar Associates does not provide advice to registered
representatives or to individual investors with respect to the
suitability of, or the investment allocations within, the
Retirement Cornerstone variable annuity product. Neither
Morningstar Associates nor Morningstar, Inc. are affiliated with
AXA Equitable.
SOURCE AXA Equitable