DULUTH, Ga.--(BUSINESS WIRE)--Primerica, Inc. (NYSE:PRI) today announced a major investment service enhancement: the Primerica Advisors Lifetime Investment Platform. Primerica’s innovative new platform provides clients access to fee-based asset management services that are focused on helping Main Street clients achieve their goals and objectives throughout their investing lifecycle.
Primerica’s platform has both strategic and tactical portfolios constructed with exchange traded funds, mutual funds, and other investment products built by some of the leading money managers in the industry, including Horizon Investments, Invesco, Lockwood Advisors, Meeder Investment Management, Morningstar Investment Management LLC, and Sage Advisory. Approximately 3,200 of Primerica’s 18,000 U.S. mutual fund licensed representatives are also investment advisor representatives and will be able to offer the new products.
“Our new platform incorporates state-of-the-art technology and significantly expanded product offerings from leading investment strategists. Importantly, it provides new ways for Primerica representatives to serve their clients by offering investment portfolios specifically constructed to solve the accumulation, protection, and income needs of each client,” said Bill Kelly, President of PFS Investments. “Working together, clients and their Primerica advisors will use the platform's guiding technology to align manager selection with a client’s preferences and investing needs. The new platform will give our representatives the ability to blend portfolio strategies, thereby providing a new world of opportunities to both new and existing clients.”
As part of its organic growth strategy, Primerica works to meet the evolving needs of Main Street families by growing distribution and selectively adding products. Primerica CEO Glenn Williams notes that the Company continues to successfully execute against this strategy and that the timing is right for this major platform introduction.
“Given the strong distribution and sales momentum we’ve achieved in the early months of 2017, we believe this is the ideal time to expand our Investment and Savings Products with the launch of our new platform,” said Williams. “In the first quarter of 2017, we saw a 9% year-over-year increase in the size of our life insurance licensed sales force, taking our total to 117,907 representatives as of March 31, 2017. Sales force growth led to solid distribution and production results in this year’s first quarter compared to the prior year period, including an expected 12% increase in recruiting of new representatives; a 13% increase in new life insurance licenses; a 6% increase in issued term life insurance policies; and a 9% increase in issued term life face amount. In our Investment and Savings Product segment, first quarter 2017 sales were up approximately 15% over the prior year period. I am proud of the leadership provided by our sales representatives and their outstanding performance so far in the year. We look forward to better serving our investment clients with our dynamic new platform.”
About Primerica, Inc.
Primerica, Inc., headquartered in Duluth, GA, is a leading distributor of financial products to middle income households in North America. Primerica representatives educate their Main Street clients about how to better prepare for a more secure financial future by assessing their needs and providing appropriate solutions through term life insurance, which we underwrite, and mutual funds, annuities and other financial products, which we distribute primarily on behalf of third parties. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing the company’s financial products. We insured approximately 5 million lives and have over 2 million client investment accounts at December 31, 2016. Primerica stock is included in the S&P MidCap 400 and the Russell 2000 stock indices and is traded on The New York Stock Exchange under the symbol “PRI”.