The parent of a multinational asset manager with 13-figure AUM is going direct to consumers for the first time ever. Yet it's not clear how the asset management arm's wares will factor in, if at all.
Last month Prudential Financial
(parent of PGIM
]) quietly launched LINK by Prudential
, Reuters reports
. The service offers portfolios of ETFs, as well as financial planning, and insurance recommendations and annuities.
Though retail customers go directly to LINK online, they can choose to connect remotely with advisors or even meet up with local advisors in person. Pru's insurance FAs still play a "critical role", Pru's U.S. COO, Steve Pelletier
, tells the news service.
Neil Anderson, Managing Editor
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