TOPEKA, KS — (Marketwire) — 10/21/11 — Security Benefit, a Guggenheim Partners Company, today announced that Hal Downing has joined the Personal Retirement Savings (PRS) Group as a Regional Director covering the Midwest.
In his new capacity, Downing will be responsible for marketing the EliteDesigns® variable annuity targeting Registered Investment Advisors (RIAs) and other fee-only advisors and their clients.
EliteDesigns- innovative structure combines a tax-deferred variable annuity with 200 well-recognized investment options. Leveraging the advantages of an insurance product with the power of a diverse investment platform, EliteDesigns is advisor-driven and structured to suit a variety of investment strategies that can meet an expansive array of risk and reward objectives. Complete product details are available at
“Hal is a recognized leader in the business,” said Jim Mullery, President, Security Distributors. “His relationships with and commitment to the RIA and high net worth community will ensure his ongoing success with PRS and Security Benefit. We were fortunate to attract someone with Hal-s talents to the organization.”
Downing is a proven industry leader having generated more than $2 billion in sales for a wide range of firms. His experience with mutual funds, annuities, managed money, and retirement plans at leading companies such as Traveler-s Group, New England Funds, Sun America Mutual Funds, AIM Mutual Funds, and Prudential-Bache Securities has provided him with a unique view of the challenges facing advisors and their high net worth clients. Downing studied Business and Finance at the Fogelman College of Business and Economics at the University of Memphis and holds securities, real estate, and insurance licenses.
“It is a privilege to be a part of Security Benefit, a firm with a long and distinguished heritage,” said Downing. “I am excited to be involved with EliteDesigns, an investment solution that fills a distinct need for RIAs and their high net worth clients.”
Variable annuities are long term investments suitable for retirement investing.
While taxes on amounts invested in a variable annuity are deferred until withdrawn, withdrawals are subject to ordinary income tax and, if made prior to age 59 1/2, may be subject to a 10% IRS penalty tax. Conversely, earnings from investments that do not offer tax deferral are taxed currently, and withdrawals from such an investment are not subject to the penalty tax.
The EliteDesigns variable annuity is a flexible purchase payment deferred variable annuity distributed by (SDI). In all states except New York, EliteDesigns (form V6029) is issued by Security Benefit Life Insurance Company (SBL). In New York, EliteDesigns (form FSB242 (1-07)) is issued by First Security Benefit Life Insurance and Annuity Company of New York (FSBL), Rye Brook, NY. SBL is not authorized in and does not transact the business of insurance in the state of New York. SDI is a wholly-owned subsidiary of SBL. SBL and FSBL are wholly-owned subsidiaries of Security Benefit Corporation (Security Benefit). Security Benefit is indirectly controlled by Guggenheim Partners, LLC.
EliteDesigns may not be available in all states. The obligations under the EliteDesigns Variable Annuity are solely those of the issuing insurer and no other entity.
Founded in 1892, Security Benefit, a Guggenheim Partners Company, advances its goal of helping people to and through retirement by providing customized retirement accumulation and income products. By leveraging Guggenheim-s proven general account management capabilities into highly competitive products, Security Benefit focuses on the retirement savings market providing a full range of services to independent distributors including broker/dealers, IMOs and other financial service providers. A comprehensive suite of retirement savings products including both accumulation and income annuities, retirement plans and mutual funds are offered to individual and institutional investors nationwide through a broad network of independent financial representatives. Security Benefit-s award-winning se2 business processing division provides business technology and processing solutions for the financial services and retirement planning sector. To learn more about Security Benefit, visit and to learn more about se2, visit .
Guggenheim Partners, LLC is a privately held global financial services firm. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 25 offices in nine countries For more information, please visit .
Michel- Philipp Cole
(785) 438-3396