The fifth step of the Nexus plan wizard is where you can add annuities to your client's plan. You can add Fixed Index Annuities (FIAs), Registered Index-Linked Annuities (RILAs), or Guaranteed Income Annuities (GIAs).
If you are creating their Financial Profile, you will most likely be adding Actual Annuities (accounts that the client currently holds today). If you are creating a Proposal Plan, you may wish to add Planned Annuities (suggested accounts that do not currently exist outside of Nexus). You can find out more about Actual vs. Planned Annuities here.
You can add as many annuities as you would like, there is no limit.
Once you have pressed the 'Set up New Annuity' button, the following modal will appear. This modal allows you to choose the Tax Type (Taxable, Pre-Tax, or Tax-Free) and Annuity Type that you would like to set up. The modal will also ask you to indicate if this is an actual annuity or a planned annuity.
After you press 'Confirm Selection' you will be able to enter the annuity details in the form below. You can choose the annuity owner (the client or co-client), add a custom nickname for the annuity, enter the annuity values, and for taxable annuities you must add the cost basis.
You can also add transfers to an annuity. If you are adding a planned annuity, a transfer from a funding source will be required. Transfers are covered in detail here.
Once you have added all required annuities and have made sure to properly save all entries, you can proceed to the next step using the 'Next' button. You can also press 'Exit Workflow' to either discard unsaved changes or save your changes and continue to create this plan at a later time.