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Started in the annuity business as an intern and has continued to grow to become head of annuity distribution
1998
Annuities after the complexity barrier falls
Matt DiGangi often returns to the same question when he talks about retirement planning: Why does this work matter? After more than 20 years in financial services, his answer is drawn from scenes he witnessed long before he led annuity distribution at MassMutual Strategic Distributors. He recalls meeting people who had outlived their savings, and witnessing the strain it placed on entire families. He remembers clients facing long-term care needs without coverage and households dealing with the sudden financial fallout of a death without life insurance.
These moments, seen early in his career, shaped DiGangi’s view that the financial services industry succeeds only when planning does more than accumulate wealth − it supports people through the risks and uncertainties that define later life.
That perspective now frames how he thinks about annuities and their rising role in retirement strategies. It is also the lens through which he evaluates the changes taking place in the market. For DiGangi, head of annuity distribution at MassMutual Strategic Distributors, the growing demand for annuities is not simply the result of product innovation or market cycles. It is a response to real experiences shared by countless households who need more stability, clearer income outcomes, and a better way to navigate the years when financial mistakes become harder to recover from.
Annuities have become part of that response. Their expansion reflects a broader shift in how advisors and clients think about retirement itself, which is no longer defined only by the amount saved but by the durability and predictability of income over time.
The progress in advisor adoption has coincided with changes in both product design and operational processes. On the process side, the industry has invested in digital capabilities that make annuities easier to compare, purchase, and service. Electronic signatures, digital delivery, and more efficient transfers have removed friction from the transaction process. Advisors can now access tools that allow them to model income scenarios, visualize trade-offs, and incorporate annuity outputs into their planning software.
On the product side, innovation has focused on giving clients flexibility around guarantees. DiGangi points to the momentum behind registered index-linked annuities and the “resurgence of variable annuities” as clients look for upside with optional protection features. MassMutual Strategic Distributors’ own recent launch of a variable annuity with income riders fits within this trend of offering more control over income and market exposure.
But even with these developments, DiGangi is quick to note that there is still
work to do. He sees three areas where annuities remain underused. The first is deeper integration into planning software so that annuity outcomes can be evaluated as naturally as mutual funds or ETFs. The second is continued improvement in ease of business. The third is broader education at both the advisor and consumer level. He believes clients need help understanding “the pluses and minuses” of different annuity options so that decisions are made with clarity, not confusion.
Spotlight
DiGangi sees a clear pattern in the conversations unfolding between advisors and their clients. Retirement planning is being shaped by two forces that sit in tension. On the one hand is the need for long-term growth to keep pace with inflation and preserve purchasing power.
On the other hand are investors’ concerns about the possibility of drawing down savings too quickly. These concerns have led more clients to look at solutions that can offer both participation in markets and some form of insulation from losses.
This pattern is especially visible in the period just before and after retirement, which DiGangi describes as a time when a poorly timed market decline can be difficult to recover from. “That is crunch time,” he says. “If you encounter a down market, that can do some damage to your portfolio and your retirement income plan.” Products that allow for market exposure with defined buffers or guarantees appeal to clients who want to reduce that risk. Registered index-linked annuities, fixed annuities with guaranteed rates, and indexed products fall into this category. For others, variable annuities with optional income riders allow for a mix of flexibility, market growth, and protection for your income plan.
What ties these conversations together is the need to avoid jeopardizing retirement income at a critical moment. As DiGangi puts it, annuities can “help people sleep at night” when they face uncertainties that are not easily controlled through asset allocation alone.
Longevity also plays a role. With extended retirement horizons and fewer traditional pensions, the need for dependable income has become more pronounced. DiGangi puts it plainly: “With rising life expectancies, the risk of outliving savings is real.” Annuities, in his view, can help fill that gap for clients who want income they cannot outlive.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management, and retirement products and services. For more information, visit www.mmsd.massmutual.com.
Company Profile
$1+ trillion
MassMutual’s life insurance protection in force (as of year end 2024)
$33.2 billion
MassMutual’s total adjusted capital (as of year end 2024)
$2.5+ billion
Approved MassMutual policyowner dividend payout (for 2025)
$9.4 billion
Insurance and annuity benefits paid by MassMutual (in 2024)
#102
MassMutual’s ranking on the 2025 FORTUNE 500 list
favourite quote
Hope is not a strategy, luck is not a factor, fear is not an option.
Matt DiGangi
Head of Annuity Distribution at
MassMutual Strategic Distributors
As advisors examine withdrawal patterns, market stress points, and longevity risks, annuities remain practical tools that support income durability and reduce decision-making pressure in retirement
Read on
“There are only so many sources that can provide guaranteed predictable income”
Matt DiGangi,
MassMutual Strategic Distributors
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Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
Years of Experience
25
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
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Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
Years of Experience
25
Fast Facts
Gaining international experience and learning about different people and cultures
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
IN Partnership with
In Partnership with
In Partnership with
1998
2002
2003
2007
2013
2019
Started in the annuity business as an intern and has continued to grow to become head of annuity distribution
1998
Started MassMutual’s third-party annuity business and has grown the business to over $13 billion in annual sales
2013
Obtained an MBA from Quinnipiac University
2002
Associate director, annuity sales desk at MassMutual Financial Group
2003
Managing director, MassMutual International
2007
Business mentor, American Corporate Partners
2019
Milestones
Changing priorities in a more cautious market
Process improvements and the push for simplicity
Published January 26, 2026
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“If you encounter a down market, that can do some damage to your portfolio and your retirement income plan. Products that allow for market exposure with defined buffers or guarantees appeal to clients who want to reduce that risk”
Matt DiGangi,
MassMutual Strategic Distributors
Years of Experience
26
based in
Florida
Complexity has long been a reason some advisors avoided annuities. DiGangi acknowledges this but points out that clearer frameworks make the conversation easier. His preferred structure is what he calls the GAPP model, which stands for growth, access, predictable income, and protection.
“When advisors are assessing annuities, I like to take a step back and think about this framework,” he says. Growth includes mutual funds, ETFs, individual securities, and accumulation-focused annuities. Access refers to liquid assets, such as money market and CDs. Predictable income includes Social Security, pensions, and income annuities. Protection covers life insurance, disability insurance, and long-term care.
This structure helps advisors evaluate annuities by purpose rather than product label. It organizes the conversation around client needs instead of features, which DiGangi believes leads to more grounded decisions. The question becomes where predictability or protection is needed rather than whether an annuity “beats” another asset class.
The GAPP model reflects a broader shift he has seen in advisor behavior. “Advisors are more focused on a holistic plan and integrating annuities as part of a diversified retirement strategy,” he says. Instead of viewing annuities as separate from the plan, advisors are placing them within the same architecture as the rest of the client’s portfolio. DiGangi sees this shift accelerating as more tools, training, and digital capabilities make annuity integration and evaluation easier.
A framework that helps advisors place annuities correctly
While annuities support accumulation, DiGangi sees their most pronounced impact during decumulation. As people shift from saving to spending, predictable income becomes central to the structure of the plan. “There are only so many sources that can provide guaranteed predictable income,” he notes, citing Social Security, pensions for those who have them, and annuities. These sources provide stability at a time when volatility can affect not only returns but behavior.
The years surrounding retirement are often the point where investors feel the most exposed. DiGangi notes that even ordinary market swings can push clients toward decisions that work against their plan. A portion of income that is fixed, rather than market driven, can steady that period and reduce the pressure to react.
It also gives advisors a clearer foundation for managing the rest of the portfolio. As more planners pay closer attention to how withdrawals interact with volatility, DiGangi sees annuities being used less as a product choice and more as a tool to keep the drawdown stage on track.
An expanding role in the drawdown stage
DiGangi does not frame the future of annuities as guaranteed. Instead, he focuses on the factors that will influence their trajectory. One of the most important is whether the industry can make annuities easier to understand. “There is always more education we can be doing,” he says. He believes that simplified language, cleaner comparisons, and clearer illustrations will matter as much as product design.
Technology sits alongside education as a second force. Having seen first-hand how digital platforms are reframing the category, DiGangi says, “Technology is reshaping how annuities are distributed and serviced.” Faster quoting, cleaner applications, and tools that let advisors model income paths are reducing the barriers that once kept annuities on the periphery of planning discussions.
Advisors have long incorporated uncertainty into retirement plans, but DiGangi notes that better tools now allow them to examine those scenarios in a more structured way. He sees annuities playing a more defined role not because the industry is emphasizing them more but because planning itself is becoming more practical and more complete.
A more informed market
For Financial Professional Use only. Not for use with the public.
Variable annuities offered through registered representatives of MML Investors Services, LLC, Springfield, MA 01111-0001 or a broker-dealer that has a selling agreement with MML Strategic Distributors, LLC, Springfield, MA 01111-0001.
Annuity products are issued by Massachusetts Mutual Life Insurance Company (MassMutual) and C.M. Life Insurance Company. C.M. Life Insurance Company, Springfield, MA, is non-admitted in New York and is a subsidiary of MassMutual, Springfield, MA 01111-0001.
MM202812-314420
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