When DST Systems of Kansas City, Mo. surveyed the financial intermediaries that use the company's advisor website to pinpoint what was missing from it, the consensus was variable annuity complexes, according to Kyle Mallot, client services officer at DST. Consequently, in January, the company added a variable annuity interface to the site and signed up the annuities operation of the Lincoln National Life Insurance Company of Fort Wayne, Ind. as the first company to provide data to the site.
Despite the desire on the part of intermediaries to see variable annuities included on a data aggregation site, other annuity companies have not joined, according to the company. DST has recently begun an aggressive marketing campaign to attract variable annuity companies, according to Mallot. The company will begin to promote the variable annuity interface specifically at upcoming industry events, he said.