Osaic Announces Direct Billing for Fee-Based Annuity Products

New industry-leading capability eliminates time-consuming administrative tasks for financial advisors managing variable annuities

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Osaic, Inc. (“Osaic”), one of the nation’s largest providers of wealth management solutions, today announced the availability of direct billing using select fee-based variable annuities within the Osaic platform. This new capability significantly simplifies annuity management, streamlining operations and enhancing flexibility for financial advisors and their clients.

“We know financial professionals depend on us for solutions to help them manage their businesses and serve their clients as efficiently and as effectively as possible,” said Shannon Larson, Senior Vice President, Osaic Platform Management & Product Development. “This new functionality underscores our ongoing commitment to delivering solutions that power productivity and provide the flexibility to choose the investment products that best fit their clients’ needs. Equally important, we’re delivering these solutions with speed. Integrating these solutions aligns with our mission to lead with fee-based innovation.”

Fee-based variable annuities have historically involved additional, burdensome administrative tasks. With direct billing, annuity fees can now be processed directly within the annuity itself—eliminating the administrative burden of creating and maintaining a separate managed investment account. Previously, if a client lacked an eligible linked account, advisors paused to identify additional investment management opportunities before placing the annuity business. That extra step is no longer necessary.

Direct billing is now available for eligible products via Osaic’s Annuity Submission Platform (ASP). It currently supports select fee-based variable annuities and is part of a broader effort to expand annuity flexibility across the entire Osaic ecosystem.

Larson added, “This enhancement is about giving our financial professionals the tools to deliver truly integrated, transparent and tax-efficient solutions for their clients. Direct billing makes it easier to incorporate annuities into comprehensive financial plans without added complexity, which may ultimately lead to better outcomes and stronger client relationships.”

With this latest enhancement, Osaic is leading the way in simplifying how advisors manage fee-based variable annuities. By removing longstanding operational barriers, Osaic empowers them to deliver greater efficiency, transparency and value to their clients. Clients are encouraged to speak with their financial advisor to learn how this new capability can support their long-term financial goals.

Learn more at Osaic.com.

About Osaic

Osaic, Inc. (“Osaic”), a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management solutions, supporting approximately 11,000 financial professionals. Osaic’s mission is to empower entrepreneurial advisors to build thriving businesses and fulfill their clients’ dreams. Visit www.osaic.com to learn more.

Securities and investment advisory services are offered through the firms: Osaic Wealth, Inc. and Osaic Institutions, Inc., broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities are offered through Osaic Services, Inc. and Ladenburg Thalmann & Co., broker-dealers and members of FINRA and SIPC. Advisory services are offered through Ladenburg Thalmann Asset Management, Inc., and Osaic Advisory Services, LLC., registered investment advisers. Advisory programs offered by Osaic Wealth, Inc. are sponsored by VISION2020 Wealth Management Corp., an affiliated registered investment adviser.