Partner for a lifetime.
Empower your clients with the support of Banyan.
Better together.
At Merit, we design our products to be an essential component of a powerful retirement income strategy. With your expertise and our guaranteed retirement income solutions, we can help your clients retire with confidence together.
For financial professionals.
Seamless integration, uninterrupted control.
You’re the expert on what’s best for your clients. We’re here to help make your job easier. Banyan is among the only existing retirement income solutions that keeps advisors in control of the assets within their current advised accounts. We keep you in the driver’s seat.
Asset control.
All assets remain in your client’s advised accounts and you maintain management and oversight. Plus, you and your firm continue to earn fees on all the managed assets.
Effortless integration.
We make it easy to incorporate Banyan into your existing advisory firm or business without encountering any commission-based conflict of interest.
Operationally flexible.
When it comes to compliance oversight, data sharing, fee process, client service and more, Merit offers a simplified platform and elevated operational flexibility.
Banyan up close.
What you need to know about Merit’s CDA.
Banyan
A solution that provides guaranteed lifetime income to clients with wealth management accounts
Vesting Period
The Annuitant’s 65th birthday or two years from the contract’s issue date, whichever is later
Annual Fee
0.55% of the protected assets in the wealth management account
Availability
Single Life; accounts may be qualified or non-qualified
Investment Options
Approved portfolios at the financial firm
Distributions for Life
Guarantees 5% distributions per year, for life, based on the greater of the wealth management account’s value on:
- The date the guarantee is issued, or
- The date distributions begin
- Begins after Vesting Period and before age 95
- Distribution amount is based on the account’s value on the Exercise Date1, adjusted for all Eligible Contributions2 and excess withdrawals
- Continue if/when the account value reaches zero
Flexibility
Contributions may be added or canceled at any time
Excess Withdrawals
Distributions during the vesting period, or above the Income Amount, proportionally reduce the guaranteed amount
Important Ages
Minimum Issue Age: 45
Maximum Issue Age: 85