Valmark Financial Group and Lincoln Financial Expand ETF Portfolio Solutions Within Variable Universal Life Products
Expanded partnership brings added value to clients through new product availability, combining features that are in high demand and offer professional ETF portfolio management
Valmark Advisers, Inc., a leading provider of portfolio management, is pleased to announce an expanded partnership with Lincoln Financial (NYSE:LNC) to offer three additional TOPS® ETF Portfolios, managed by Valmark Advisers, within Variable Universal Life (VUL) products offered by The Lincoln National Life Insurance Company. Effective May 12, 2025, subaccounts investing in the TOPS® Conservative ETF Portfolio, TOPS® Growth ETF Portfolio, and TOPS® Aggressive Growth ETF Portfolio will be added to the Lincoln AssetEdge® VUL (2025), Lincoln AssetEdge® VUL (2022), and Lincoln AssetEdge® SVUL policies.
"It's always a significant milestone when a longtime partner chooses to deepen the relationship," said Michael McClary, Chief Investment Officer of Valmark Advisers. "Since 2019, Lincoln has offered our TOPS® Balanced and Moderate Growth ETF Portfolios across several of their solutions. After five years of successful collaboration and strong performance, we're excited that Lincoln is expanding the suite to include our TOPS® Growth and Aggressive Growth ETF Portfolios, offering policyholders greater opportunity for equity exposure and long-term growth potential within their Variable Universal Life policies. Additionally, the introduction of our TOPS® Conservative ETF Portfolio offers a compelling solution for clients seeking a more bond-oriented allocation—enhancing flexibility across risk profiles and providing a valuable option for those prioritizing stability and risk management."
Along with being one of the longest-standing and largest managers of Exchange-traded Fund (ETF) portfolios—pioneering the ETF movement since 2002—Valmark Advisers now oversees approximately $10.6 billion in total Assets Under Management and Advisement (AUMA). In addition, the firm continues to expand its position as a premier provider of diverse financial services and life insurance solutions.
Larry J. Rybka, Chairman and CEO of Valmark, is recognized throughout the industry as a leading authority and influential voice in the life insurance space.
"I've been a strong advocate for variable life products since the 1990s," said Rybka. "In fact, the desire to provide our Member Firms with access to the broadest possible range of high-quality variable life solutions was the driving force behind the launch of our broker-dealer, Valmark Securities, Inc., back in 1996. This was well ahead of what any other independent insurance distributor or producer group was offering at the time.
This latest expansion of the TOPS® ETF Portfolios reflects the convergence of two core Valmark strengths: our long-standing belief in the power of variable products and the innovative work Michael McClary has led within our RIA to pioneer ETF-based investment strategies. Offering a full range of cost-conscious, transparent, and diversified portfolios within variable life policies just makes sense. With this expansion, clients now have meaningful choices across the risk spectrum, tailored to meet their evolving financial goals."
Valmark and Lincoln have enjoyed a collaborative relationship in life insurance and annuity distribution for over 25 years.
"Lincoln is focused on delivering a range of tailored solutions and optionality that empower financial professionals to meet their clients' unique needs," said Jared Nepa, senior vice president and head of Insurance Solutions Distribution. "The TOPS® brand is synonymous with ETF-based solutions for VUL, and we are excited to expand our partnership, further demonstrating Lincoln's commitment to offering flexible life insurance solutions that deliver both protection and the freedom to pursue long-term, market-driven wealth accumulation potential."
Lincoln's variable life products now include all five TOPS® ETF-focused funds. TOPS® ETF strategies are widely respected for their proven investment process, transparency, and cost efficiency - attributes that align well with the goals of many long-term VUL policyholders. This is Lincoln's latest in a number of moves taken this year to enhance its Life offerings.
"This expansion allows both TOPS® and Lincoln to move forward with greater strength and alignment in meeting clients' evolving needs," said Michael McClary, Chief Investment Officer of Valmark Advisers. "It's not just about adding new funds—it's about delivering a comprehensive spectrum of investment options that give financial professionals the flexibility to build portfolios that adapt over time, keeping pace with changing client goals and market conditions for years to come."
For information on Valmark Financial Group or TOPS® ETF Portfolios, visit www.valmarkfg.com or www.topsfunds.com.
About Valmark Financial Group, LLC
Valmark Financial Group is a holding company of several subsidiaries, including Executive Insurance Agency, Inc., a national producer group; Valmark Securities, Inc., a broker-dealer and member of both FINRA and SIPC; Valmark Advisers, Inc., a U.S. Securities and Exchange Commission registered investment adviser; and the Valmark Policy Management Company, LLC, which provides ongoing policy management and monitoring services for life insurance policyholders. With a proud history of working with independently owned financial services firms committed to high ethical standards in over 30 states throughout the United States, Valmark offers a wide range of insurance and investment solutions for high net-worth clients. Headquartered in Akron, Ohio with operations in St. Paul, Minnesota, Valmark, through its affiliated entities, has helped its member firms place over $70 billion of life insurance death benefits and manage insurance policies with a cumulative cash value of over $8 billion dollars. Valmark's affiliated RIA, Valmark Advisers, has an estimated $10 billion in assets under management and advisement, including approximately $1.2 billion in variable sub-account assets within its TOPS® funds. To learn more about Valmark Financial Group, visit www.valmarkfg.com.
Securities offered through Valmark Securities, Inc. Member FINRA/SIPC. Investment Advisory services offered through Valmark Advisers, Inc., a SEC Registered Investment Advisor.
About Lincoln Financial
Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. Learn more at LincolnFinancial.com.
Lincoln AssetEdge® VUL (2025) is issued on policy form 24-VUL616/ICC24-VUL616 and state variations with the Enhanced Overloan Protection Endorsement (24END-7120/ICC24END-7120) and Lincoln Enhanced Allocation Rider (22LEAR-7100/ICC22LEAR-7100) and Lincoln AssetEdge® SVUL is issued on policy form 24-SVUL618/ICC24-SVUL618 and state variations with the Enhanced Overloan Protection Endorsement (24END-7120JS/ICC24END-7120JS) and Lincoln Enhanced Allocation Rider (22LEAR-7100/ICC22LEAR-7100); Lincoln AssetEdge® VUL (2022) is issued on policy form 22-VUL606//ICC22-VUL606, by The Lincoln National Life Insurance Company, Fort Wayne, IN, and distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so. Valmark and Lincoln Financial Distributors are separate and not affiliated.
All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.
Lincoln variable universal life insurance is sold by prospectuses. Carefully consider the investment objectives, risks, and charges and expenses of the policy and its underlying investment options. This and other important information can be found in the prospectus for the variable universal life policy and the prospectus for the underlying investment options. Prospectuses are available upon request and should be read carefully before investing or sending money. For current prospectuses, please call 800-444-2363 or go to www.LincolnFinancial.com. With variable products, policy values will fluctuate and are subject to market risk and to possible loss of principal.
Note: Jared Nepa is a spokesperson for Lincoln Life Solutions. Jared Nepa holds a leadership role within Lincoln Financial Distribution, the wholesaling broker-dealer of Lincoln Financial. He is compensated by Lincoln and is a shareholder of Lincoln National Corporation.
LCN-7953660-050925
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Jamie Summerville –
VP, Communications
Valmark Financial Group
130 Springside Drive
Akron, OH 44333
P: 330.576.1234 x3609
E: [email protected]
www.valmarkfg.com