DJ Shaw
2 min read
Valmark Advisers Inc. has expanded its portfolio offerings within Lincoln Financial Group Inc. variable universal life insurance products, adding three additional investment options effective May 12, according to a Tuesday company announcement.
The new subaccounts include the TOPS Conservative ETF Portfolio, TOPS Growth ETF Portfolio and TOPS Aggressive Growth ETF Portfolio, joining existing TOPS Balanced and Moderate Growth ETF Portfolios already offered since 2019, according to the announcement.
The move gives policyholders more investment choices, from safe bond-heavy options to growth-focused stock picks, according to the announcement. Variable life insurance combines a death benefit with investment accounts that can grow over time.
Among the new options, the TOPS Conservative ETF Portfolio seeks capital preservation and moderate income, allocating approximately 70% of assets to fixed-income ETFs and 30% to equity and REIT ETFs, according to the portfolio's prospectus. Fixed-income investments are restricted to those with an average maturity of 20 years or less and maintain investment-grade credit quality.
Designed for capital appreciation, the TOPS Growth ETF Portfolio allocates approximately 85% of assets in equity ETFs, REIT ETFs and natural resource ETFs, while placing about 15% in fixed-income ETFs, according to the prospectus. Valmark selects equity ETFs composed of growth stocks with higher-than-average earnings growth and price-to-earnings ratios.
For maximum growth potential, the TOPS Aggressive Growth ETF Portfolio targets capital appreciation through investments primarily in common and preferred stocks, real estate-related securities and natural resource-related securities, according to the prospectus. This portfolio recorded an 11% turnover rate during fiscal year 2024.
All three portfolios employ a fund-of-funds structure, investing at least 80% of assets in exchange-traded funds under normal market conditions, according to the prospectuses. Total annual operating expenses vary by portfolio and share class.
Lincoln Financial customers can now access all five TOPS ETF-focused funds through the Lincoln AssetEdge VUL (2025), Lincoln AssetEdge VUL (2022) and Lincoln AssetEdge SVUL policies, according to the announcement. Valmark Advisers oversees approximately $10.6 billion in total assets under management and advisement.
