Allianz Review

Company Overview

Allianz is a multinational financial services provider based in Munich, Germany. This company specializes in insurance but also offers a number of other services including investment and asset management, retirement and bonds. As of 2012, Allianz was the largest financial services company in the world in terms of revenue and this firm has offices all over the world including in the U.S. Allianz Life Insurance Company of North American was ranked in Fortune Magazine as one of the best 100 companies.

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Account Options

 

 Minimum ContributionMaximum Contribution

Roth IRA

No Minimum

$5,500/year

Traditional IRA

No Minimum

$5,500/year

SEP IRA

No Minimum

25% of compensation
(up to $52,000)

SIMPLE IRA

No Minimum

$12,000 (if under age of 50) or
$14,500 (if older than 50)

Self-Directed IRA

-

-

Rollover IRA

-

-

Inherited IRA

-

-

 

Allianz offers a typical selection of IRA accounts including SIMPLE, SEP, traditional and Roth IRAs. However, inherited and rollover IRAs are not available at this investment firm. The catch-up contribution limits for various IRAs are not listed.

Investment Options

Mutual funds and annuities are available at Allianz but the fees are not listed on the site. Other investment types as well as their associated fees are not listed on the site either. For more information about investment options, investors will need to contact an Allianz financial advisor.

Fees and Commissions

Minimum account balance and account fees are not shown on the site. Allianz takes a personalized approach to investing and their retirement plans which is why investors need to contact an advisor for information on fees and prices. Allianz caters to knowledgeable and experienced investors.

Retirement Planning

There are a variety of articles at Allianz that discuss a variety of different retirement-related issues. However, there are no calculators or retirement planning guides. Investors will actually work with a financial advisor to prepare a retirement plan and choose an IRA. Allianz does not offer DIY retirement planning options and all of the decisions that are made in regards to retirement accounts will go through the financial advisor. This means that the financial advisor will manage investments and provide clients with retirement advice.

Account Features

In order to open a Roth IRA, investors must have generated taxable income in the last year. The IRS also has other requirements in regards to income and filing that must be met to open an IRA. In addition, investors will be asked for their social security number and personal information when they open an account.

Accessibility

There is no mobile app or site that is available for investors. All investments are managed by a financial advisor so if investors have any questions they can easily get information about their investments directly from their advisor.

Safety and Security

Allianz is dedicated to protecting clients against online fraud and theft. There are a wide range of security protocols that are used to protect online users including encryption technology to encrypt all financial and sensitive information.

Customer Support

Clients can reach a customer service representative 24 hours a day, 7 days a week through telephone or email. Clients can also contact their personal financial advisor through email and telephone as well for any questions that pertain to their investments. The support at Allianz is excellent and very responsive.

Bottom Line

At Allianz, clients are not able to handle their own investments without their financial advisor. However, having a financial advisor is a great resource and it will help investors make the proper investment and retirement decisions.

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