and SEI Investments
are teaming up for a new variable annuity offering to be launched in the fall, in order to target the financial intermediary channel. SEI's mutual funds will be the underlying investment options for the VA, SEI's first, while Lincoln will provide product design, customer service, and administration.
Lincoln will also assist SEI with marketing the product to investment advisors.
, CEO of the annuities group for Lincoln said that the firm already has a strong presence in the wirehouses and regional brokerage channels -- the new offering will help his division make inroads into the advisor channel.
, president of SEI's investment advisory group, said his firm selected Lincoln over several of its competitors on the basis of its "service, technology and its strong commitment to the success of SEI's variable annuity initiative."
The variable annuity is slated to roll out in August 2000.
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