CHICAGO, Sept. 22, 2020 /PRNewswire/ -- Envestnet, Inc.
(NYSE: ENV) announces that TFS Securities, Inc., through its TFS
Advisory Services arm, has launched the Envestnet Insurance
Exchange, an insurance network delivering access to reputable
insurance carriers and their annuity products alongside traditional
managed account investments on the Envestnet platform. The
Envestnet Insurance Exchange allows TFS advisors to incorporate
annuity solutions into client portfolios as a source of guaranteed
income.
In addition, TFS is providing its advisors with access to the
Strategist UMA program, offering a suite of unified managed account
portfolios from six top asset managers on the Envestnet platform.
The Strategist UMA portfolios, launched by Envestnet | PMC
earlier this year, can meet clients' different levels of risk
tolerance, and are wrapped in PMC's exclusive portfolio-overlay
technology for incorporating tax management and impact investing.
PMC, Envestnet's Portfolio Management Consultants group, partnered
with BlackRock, Clark Capital, Legg
Mason, PIMCO, and Russell Investments to create 86
multi-asset portfolios combining individual stocks, individual
bonds, mutual funds, and exchange-traded funds (ETFs). TFS advisors
can answer a series of questions in the Envestnet platform's
Digital Portfolio Consultant to identify a Strategist UMA portfolio
that best suits each client's needs and goals.
"Our Strategist UMA portfolios offer advisors the opportunity to
diversify client portfolios with strategies from some of the top
asset managers, while also easily applying values-based investing
and tax-smart elements," said Brandon
Thomas, Chief Investment Officer of Envestnet |
PMC. "Simplified access to these solutions through our platform
brings TFS advisors a wider selection of resources to harness in
order to help make financial wellness a reality for their
clients."
Powered by FIDx, the first product-agnostic platform to
seamlessly integrate the benefits of insurance alongside investment
products, the Envestnet Insurance Exchange provides end-to-end
management of annuity solutions, from pre- to post-issuance.
Advisors with TFS can plan, research, generate proposals, manage
in-force transactions, and create client reports within the
Envestnet wealth management platform. The TFS home office team can
also utilize the Envestnet Insurance Exchange's licensing and
appointment check tools, as well as integrated applications that
help monitor in-force transactions and adherence to client
investment policies. In addition, insurance-licensed registered
representatives and investment advisory representatives with TFS
can open policies through the Envestnet Insurance Exchange.
"The market downturn and extreme uncertainty driven by the
COVID-19 pandemic require advisors to reevaluate investment options
for clients saving for, approaching, and in retirement—and
annuities are definitely worth a second look in the present
environment," said John Yackel,
Head of Strategic Initiatives for Envestnet. "We believe that
providing access to annuity solutions that are fully integrated
with more traditional investments is key for helping advisors guide
clients through this crisis."
Together, Envestnet and FIDx have secured a robust lineup of
annuity solutions from AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global
Atlantic Financial Group, Jackson National Life Insurance Co.,
Nationwide, Prudential Financial, and Transamerica. A broad variety
of commission- and fee-based annuities are supported by the
Envestnet Insurance Exchange.
"Through our partnership with TFS, we are empowering their
advisors to access guaranteed income solutions in a digital
experience during this time," said Rich
Romano, Chief Executive Officer of FIDx. "The annuity
solutions on the Envestnet Insurance Exchange can be managed from
end to end, and integrated with other client investments, in a
single platform for advisors as part of their mission to help
clients achieve their long-term financial goals and optimize
investment outcomes."
Lincroft, New Jersey-based TFS
Securities, Inc. is home to nearly 200 independent financial
advisors and is a division of Tomorrow's Financial Services, Inc.
The firm was established in 1968 and provides a full range of
financial products and services to enable clients to achieve the
goals set out in their financial plans.
"We believe comprehensive information and guidance are the
necessary components for making sound financial decisions," said
Thomas P. Hyland, President of
The TFS Family of Companies. "The Envestnet Insurance Exchange
and Strategist UMA program will provide our advisors with access to
high-quality annuity products and managed portfolios that can help
clients effectively navigate present market conditions as part of a
truly holistic plan."
About Envestnet
Envestnet, Inc. (NYSE: ENV) is transforming the way financial
advice and wellness are delivered. Our mission is to empower
advisors and financial service providers with innovative
technology, solutions, and intelligence to make financial wellness
a reality for everyone. Over 103,000 advisors across more than
4,900 companies including 16 of the 20 largest U.S. banks, 46 of
the 50 largest wealth management and brokerage firms, over 500 of
the largest RIAs, and hundreds of FinTech companies, leverage the
Envestnet platform to grow their businesses and client
relationships.
For more information on Envestnet, please visit
www.envestnet.com, subscribe to our blog, and follow us on Twitter
(@ENVintel) and LinkedIn. For more information about
Envestnet | PMC, please visit www.investpmc.com.
About Tomorrow's Financial Services, Inc
TFS was founded centered on the belief that the interests of the
client must always come first. Our goal is to provide our clients
with comprehensive education and the guidance necessary to make
sound financial decisions. Through various subsidiaries, TFS
provides a full range of wealth management solutions, financial
products, and services for our clients to utilize throughout the
implementation of their plans.
The TFS Family of Companies includes: TFS Securities, Inc.;
TFS Advisory Services; TFS Wealth Management; TFS Insurance
Brokerage; TFS Mortgage Corporation, Inc.; and TFS Income Tax
Preparation Services, Inc. With offices nationwide, TFS is home to
nearly 200 independent financial advisors who are licensed and
qualified to provide our full line of products and services. TFS is
one of the few true "one-stop" financial services organizations,
and remains committed to providing the highest level of customer
service and support. For more information, visit
www.wealthtfs.com.
About FIDx
Fiduciary Exchange, LLC (FIDx) is a technology-empowered network
that seamlessly integrates the brokerage, insurance and advisory
ecosystems to offer best-in-class annuities and insurance solutions
from the industry's leading carriers. FIDx enables advisors to
offer guaranteed income and downside protection as core components
of their clients' portfolios—integrated within the same wealth
management platforms they already use every day. An independent
technology firm, FIDx connects advisory firms to insurance carriers
through a seamless, digitally-enabled process so advisors can truly
deliver comprehensive advice and help their clients reach
their goals.
Envestnet, Inc. has a financial interest and occupies board of
director positions in Fiduciary Exchange LLC (FIDx).
This press release does not constitute an endorsement of any
firm or individual and is not intended to constitute legal, tax,
accounting, securities, or investment advice, nor an opinion
regarding the appropriateness of any investment, nor a solicitation
of any type.
Media Contacts
Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.; Fiduciary Exchange, LLC (FIDx)