Jackson Hosts Legal and Compliance Summit to Increase Access to Annuities

Event facilitated collaboration among key industry players to address annuity distribution issues

Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc. (NYSE: JXN), held its Legal and Compliance Executive Council on October 27-28, 2022 in Washington, D.C. The goal of the meeting was to promote partnership, collaboration and transparency between distribution, legal and compliance leaders at Jackson and counterparts at more than 20 distribution partner firms. Participants share a common view that annuity solutions can be an important part of a client’s holistic wealth management portfolio and that opportunities exist to create stronger alignment between carriers and financial professionals to increase access to annuities.

Key takeaways from the summit include:

• As a leading seller of retail annuities in the U.S. with one of the largest distribution networks, Jackson plays a critical role in bringing the industry together to help Americans achieve better retirement outcomes.
• The pace of regulatory change in the annuity industry is not slowing, providing an opportunity for Jackson to better understand the needs of its distribution partners in implementing these changes.
• Educational materials that clearly articulate the value of various annuities are needed by financial professionals. By reducing the complexity, financial professionals can more easily identify when these products may help clients reach their financial goals.

“This event was an important step in our work with distribution partners to ensure that Jackson’s annuity products are available to financial professionals who seek to provide their clients with greater certainty in retirement planning,” said Scott Golde, senior vice president and enterprise chief compliance officer, Jackson. "Together, we can ensure that clients receive the valuable benefits that Jackson annuities can provide, such as the opportunity to grow retirement assets and receive lifetime income. We made encouraging progress in a short amount of time by sharing ideas and best practices and look forward to continuing these important conversations that can ultimately help us effect change within our industry.”

The two-day summit was hosted at the Willard Hotel in Washington D.C. The range of topics covered included the regulatory environment, including proposals from the SEC, states and the NAIC; the ongoing integration of fintech platforms with annuities; and education on how risks are priced and managed through product design.

“As someone who has seen first-hand the positive impacts that better collaboration and partnership among industry leaders and regulators can have, I was delighted to share some of my insights with the summit attendees,” said Michael Piwowar, former acting chairman and commissioner at the U.S. Securities and Exchange Commission. “Events like these are critical for the annuity industry to tackle important issues, and I’m glad to lend my voice in support of this effort.”

“This event was a result of the strong partnership between our distribution, legal and compliance teams working closely with executive leadership,” said Greg Masucci, senior vice president, strategic relationships, Jackson National Life Distributors LLC. “The productive conversations we were able to facilitate help us better understand the unique perspectives of our distribution partners and create better alignment across our teams as we move forward.”

To learn more about how Jackson is working to drive better outcomes, please visit www.jackson.com.

ABOUT JACKSON

Jackson® (NYSE: JXN) is committed to helping clarify the complexity of retirement planning—for financial professionals and their clients. Through our range of annuity products, financial know-how, history of award-winning service* and streamlined experiences, we strive to reduce the confusion that complicates retirement planning. We take a balanced, long-term approach to responsibly serving all of our stakeholders, including customers, shareholders, distribution partners, employees, regulators and community partners. We believe by providing clarity for all today, we can help drive better outcomes for tomorrow. For more information, visit www.jackson.com.

*SQM (Service Quality Measurement Group) Contact Center Awards Program for 2004 and 2006-2021, for the financial services industry. (To achieve world-class certification, 80% or more of call-center customers surveyed must have rated their experience as very satisfied, the highest rating possible).

Jackson® is the marketing name for Jackson Financial Inc., Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York).

Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses provide this and other important information. Please contact your financial professional or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.

Annuities are long-term, tax-deferred vehicles designed for retirement. Variable annuities involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed. Individuals may be subject to a 10% additional tax for withdrawals before age 59½ unless an exception to the tax is met.

Annuities are issued by Jackson National Life Insurance Company and in New York by Jackson National Life Insurance Company of New York. Variable annuities are distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. These products have limitations and restrictions. Contact Jackson for more information.

Guarantees are backed by the claims-paying ability of the issuing insurance company.

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