Envestnet Insurance Exchange, a new insurance network that integrates insurance solutions into the wealth management process on the Envestnet platform, now offers access to a robust line-up of six carriers.


Image: Envestnet launches platform with six carriers. Photo: Courtesy of Nick Karvounis/Unsplash.

Envestnet Insurance Exchange will streamline and enhance advisors’ ability to deliver the full lifecycle of financial advice to their clients. The carriers, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Company, Nationwide and Prudential Financial, offer a variety of variable, structured, fixed and indexed annuities to advisors through the Envestnet Insurance Exchange. Envestnet is actively working to onboard advisors to the pilot program and plans a broad-market release of the Insurance Exchange in June 2019.

“After months of preparation, we’re proud to introduce financial solutions from a well-respected group of insurance carriers on the Envestnet Insurance Exchange,” said Bill Crager, Chief Executive of Envestnet Wealth Solutions. “We believe advisors who offer integrated advice to their clients can help them achieve better outcomes. By bringing more choices to the enterprises we work with and their advisors, we believe we are one step closer to helping them deliver complete financial wellness to their clients.”

Envestnet Insurance Exchange is backed by Fiduciary Exchange, LLC (FIDx), a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems. The partnership was initially announced at the Envestnet Advisor Summit in May 2018. Since then, Envestnet and FIDx have worked together to add a strong line-up of reputable carriers and annuity solutions. FIDx’s technology unites insurance carriers and wealth management platforms empowering advisors to fully integrate annuities and the benefits of insurance into clients’ portfolios.

“FIDx is excited to be working with the industry’s largest wealth management platform, Envestnet, and a network of highly-regarded insurance carriers in helping advisors address their clients’ need of guaranteed retirement income,” said Brian Serfass, Chief Marketing Officer of FIDx.

Insurance solutions, specifically annuities, offer several advantages for long-term investing, including tax deferral, guaranteed income and principal protection. Through Envestnet Insurance Exchange, advisors and their clients will benefit from the following:

  • Industry recognized selection of carriers and annuity products
  • Daily annuity performance reporting aligning with traditional asset classes
  • Integration of annuities into asset allocation models
  • Simplified account opening, processing and management of annuities on platform
  • Ability to advise on annuities within the managed account ecosystem and conduct in-force transactions on platform
  • Fee-based and commission-based annuity offerings

Envestnet Insurance Exchange will be available through the sponsor and advisor portals on the Envestnet platform.

Source: Company Press Release