Advisers using Envestnet MoneyGuide now have the option to access a range of annuities from carriers while working with clients to build financial plans.
Beginning Tuesday, advisers on the MoneyGuide platform can create a plan for a client using various different annuity strategies to identify and act on income gaps their clients may face, as well as compare and manage annuities as part of their planning approach, according to President of Envestnet MoneyGuide Tony Leal.
“Advisers can click a button and show the impact of the client implementing the annuity,” Leal said in a release.
The news comes more than two years after the industry’s largest turnkey asset management platform originally detailed plans to add annuities.
The national roll out of annuity products on the MoneyGuide platform builds out on an existing integration partnership with FIDx, which provides Envestnet MoneyGuide a range of annuities including both commission- and fee-based annuities from AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Co., Nationwide, Prudential Financial and Transamerica.
For FIDx, the integration is not just about placing the annuity, but about matching the needs of the financial adviser and their client given whatever constraints they may have, according to FIDx CEO Rich Romano.
“It allows FIDx clients and advisers to use MoneyGuide with no additional work other than letting FIDx know what products are on their shelf,” Romano said in a release.
The leading TAMP by assets partnered with the insurance marketplace Fiduciary Exchange, a company that connects wealth management firms with insurance providers, to offer the services last year.
The deal gives insurance providers an avenue to access advisers, while wealth management firms get the benefits annuities can offer including guaranteed income and downside protection.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.
David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.
Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."
Meanwhile in Chicago, the wirehouse also lost another $454 million team as a group of defectors moved to Wells Fargo.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
