Allianz Life Insurance Company of North America has filed a registration statement for a new variable annuity, the Allianz Retirement Pro Variable Annuity, which it plans to launch later this year. The annuity is designed for dually registered investment advisor working within growing fee-based market.

According to Allianz, the Allianz Retirement Pro is a long-term financial vehicle that will offer low-cost tax deferral, flexible protection and with an ability for clients to allocate and transfer money among two accounts depending on their investment objective including base account, and income advantage account. The launch of product is subject to receipt of all regulatory approvals.

In addition, Allianz Retirement Pro will give clients working with a fee-based advisor a new opportunity to add an insured solution to their portfolio that’s designed to help them accumulate, preserve, and distribute their retirement assets.

Robert DeChellis, president and CEO of Allianz Life Financial Services, said: “There is a growing segment of advisors that are recognizing the benefits that a fee-based annuity will bring to a holistic financial planning practice. We have designed Allianz Retirement Pro to be a solution that advisors will seek to protect their clients from longevity and inflationary risks.”

The product and feature availability may vary by state and broker/dealer. However, this product is not available in New York.