The lawsuit filed by USAA Life states that Stauch took out a life insurance policy, titled a "Term Life Insurance Rider for Children," in 2017, which would have provided her with $25,000 in the event that her stepson had died. Bullard have experienced as a result of the defendant's actions." Bullard could have had with their son," Judge Gregory Werner of the Colorado 4th Judicial District said during Stauch's sentencing hearing this month. Stauch, you betrayed the person you loved enough to marry, you told your husband lies and took away someone he loved. Stauch was sentenced to life in prison after she was found guilty of murdering Gannon Stauch in 2020 and placing his dead body in a suitcase before disposing of it. The lawsuit filed by USAA Life comes shortly after Stauch was found guilty of murdering her 11-year-old stepson earlier this month. In May 2023, USAA Life Insurance filed a lawsuit attempting to block Letecia Stauch from obtaining a life insurance policy she took out before murdering her son. “When the transfer is complete, our members will see twice the number of available mutual funds and three times as many ETFs.Booking photo of Letecia Stauch. “We see this as a great opportunity for our members because of Victory’s sole focus on investing,” he said. “It’s our hope to bring that awareness to USAA funds.” “The USAA funds have a lot more members they can serve,” he said. Dhillon said Victory will be marketing other Victory fund franchises to USAA members and expanding the distribution of the USAA funds beyond the membership. In addition to seeking deeper penetration of the 11.7 million USAA members that don’t already invest in USAA funds, Mr. Dhillon, who acknowledged that access to USAA’s 13 million members was part of the appeal of the deal, said “We are still working out how Victory will be marketed to USAA members.” “And I would imagine there would have to be some kind of monetary incentive for the USAA parent company to allow Victory to keep that name.”
“I would imagine USAA will continue pushing clients toward USAA funds,” he said. Bruno said it’s too early to know if there will be any changes to the USAA lineup post-acquisition, he believes the USAA brand will live on, regardless. “And I think it’s been tough for USAA to gain traction outside of the military audience.”
“It comes down to Victory Capital being very slim on the fixed-income side,” he said. The fixed-income expertise is seen as the biggest boost to Victory Capital, according to Morningstar analyst Alonzo Bruno. “USAA has a strong suite of mutual funds, and more recently entered the ETF market with smart beta strategies. “We expect some consolidation of overlapping strategies to occur and Victory to look to bring down expense ratios amid an industry shift to lower-cost mutual funds and ETFs,” he added. “If you look at the trends in the industry and look into the future, we didn’t think we would be able to offer the kinds of opportunities in this space that are available through Victory,” he added. “The benefits of this move to our members far outweigh what we could have done in-house,” said USAA spokesman Matt Hartwig. This marks the second acquisition since September for Victory Capital, which raised $152 million through a February initial public stock offering.Ĭiting challenges in areas such as cost pressure, technology and innovation, a USAA spokesman said selling the asset management business was the best thing USAA could do for its 13 million members, 1.5 million of whom currently invest in the products being sold to Victory Capital. USAA will continue to operate as an insurance brokerage and banking business serving military families. The deal, announced earlier this week, will move USAA’s mutual funds, ETFs and 529 college savings plan business under the umbrella of Victory Capital Holdings, which is paying $850 million for the business.
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