American Express Financial Advisors (AEFA) and Goldman, Sachs & Co. announced today the launch of the Goldman Sachs Variable Annuity which offers 16 of Goldman's funds.

The annuity is issued and serviced by American Enterprise Life, a wholly owned subsidiary of American Express. Goldman Sachs will distribute the annuity through third-party broker-dealers nationwide and AEFA will make the the new product available through its advisor network in August.

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The new variable annuity distribution alliance builds on the strategic relationship between AEFA and Goldman Sachs announced in March, which also includes the availability of Goldman Sachs' mutual funds through AEFA's network of advisors.

"Our alliance with Goldman Sachs is part of our larger strategy to expand our financial services business," said Dave Hubers, president and chief executive officer, AEFA. "This product is a great example of how we can use our strengths to collaborate with other companies to benefit consumers while growing our business." 

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