MADISON, Wis. – CUNA Mutual Group is reporting that its Wealth Management business continues to grow. The company’s broker-dealer, CUNA Brokerage Services, Inc. (CBSI), added more than 21 new credit union investment programs and 60 new financial advisors across the U.S. this year.
“Our mission is to empower hardworking Americans to secure better financial futures,” said Jeff Bosco, senior vice president, Wealth Management, CUNA Mutual Group. “We play a critical role in helping members with financial planning, to help them understand and make choices that support their financial goals.”
CUNA Mutual noted it committed more than $25 million to its Wealth Management business for technology, staffing, training and resources. As part of this investment, the company said it enhanced both iDIA, a tablet sales tool for its MEMBERS Future Income Annuity, and its MEMBERS® ZONE annuity sales tool, as well as upgraded its financial advisor platform.
“In an industry with constant change and market uncertainty, we are more focused than ever on creating investment products and services that are simple and easy to understand,” said Bosco. “Because of our customer focus, we are one of the fastest growing annuity manufacturers in the industry.”
According to LIMRA, a leading research firm focused on retirement, insurance and distribution, CUNA Mutual Group is number one in year-over-year U.S. annuity sales growth through the third quarter. CUNA Mutual Group’s Wealth Management annuity sales surpassed $627 million in 2015, nearly double last year’s sales, and its assets under management are now more than $4.7 billion.