FundQuest Builds Fidelity Annuity Into its Managed Account Platform

Fidelity Investments is offering its Fidelity Personal Retirement Annuity on the platform of managed accounts provider FundQuest. Thus, the low-cost variable annuity will be available to investors through fee-based advisers, marking the first time Fidelity has worked with a turnkey asset management firm.

Fidelity will support sales of the annuity by offering access to its insurance-licensed sales representatives.

“At a time when many investors are looking for ways to get their retirement investments back on track, we are pleased to be able to make Fidelity Personal Retirement Annuity available to fee-based advisers seeking ways to further maximize their tax-deferred investment strategies,” said Joan Bloom, executive vice president of Fidelity Investments Life Insurance Co.