MassMutual Ascend Surpasses $2 Billion in Annuity Sales: A RIA Trend

MassMutual Ascend has recently surpassed a remarkable milestone of $2 billion in lifetime advisory annuity sales, reflecting a growing trend in the Registered Investment Advisor (RIA) channel towards incorporating guaranteed income options into client portfolios.

As a subsidiary of Massachusetts Mutual Life Insurance Company, MassMutual Ascend achieved this significant sales volume in collaboration with over 1,700 investment advisor representatives across nearly 1,000 RIAs. Notably, approximately $900 million of this volume was generated in just two years, 2025 and 2026, showcasing a strong momentum in the adoption of advisory annuities. This accomplishment underscores a shift among RIAs, who historically favored low-cost, fee-based products, towards embracing annuities for their clients.

Advisory Annuities: A Decade of Growth

A decade ago, MassMutual Ascend ventured into the advisory annuity market with a fixed-indexed annuity designed specifically for a fee-based advisory model. Joe Maringer, Senior Vice President and National Sales Manager, foresaw annuities becoming a critical element in retirement planning discussions. Unlike traditional commission-based products, this innovation resonated with the fiduciary model preferred by RIAs, leading to an expanded lineup of annuities over time to suit this cautious channel.

The company's dominance in the advisory fixed-indexed annuity space for eight consecutive quarters, as reported by LIMRA, reflects the rising acceptance of annuities among RIAs. These products provide more guaranteed lifetime income than traditional fixed-income investments by utilizing risk pooling, a method that appeals to advisors focused on retirement security.

Industry Adoption and Challenges

The integration of annuities by major asset managers like BlackRock and State Street into target-date retirement products highlights a broader industry shift towards these financial instruments. David Lau, CEO of DPL Financial Partners, suggests that such endorsements may encourage individual advisors to adopt annuities more seriously. Additionally, Belle Bielawska, National Key Account Manager at MassMutual Ascend, emphasizes the growing appreciation of modern annuities in addressing complex retirement challenges.

However, complexities remain. Annuities' perceived complexity and the historical preference for low-cost investments are hurdles in the RIA channel. Matt Clifford, an annuity strategy consultant, observes that evolving product designs now respond better to economic conditions and regulatory demands. This includes a move toward more efficient products like multi-year guaranteed annuities (MYGAs) and fixed-indexed annuities (FIAs), especially as interest rates fluctuate.

Future Implications for the RIA Channel

Despite the positive trends, RIAs require tailored solutions that align with their long-term portfolio construction principles. Clifford suggests that while brokerage models leverage commissions for sales, RIAs demand cost-effective, strategy-compliant products that withstand diverse market conditions. Advisors will need ongoing support from carriers to effectively integrate annuities into client portfolios.

As the landscape continues to evolve, insurance agencies and RIAs must stay attuned to product developments and regulatory changes. The movement towards more sophisticated annuity offerings, aligned with fiduciary standards, presents both opportunities and challenges for reaching clients’ retirement objectives. The insurance industry’s response will be critical in shaping the future of advisory services within the RIA channel.