CHICAGO, March 17, 2021 /PRNewswire/ -- Envestnet,
Inc. (NYSE: ENV) announced today that its Variable Annuity Program
is being expanded to become the Envestnet Insurance Exchange,
powered by Fiduciary Exchange, LLC (FIDx). This innovation provides
access to all types of annuities, enabling advisors to deliver
fully integrated advice within Envestnet's financial wellness
ecosystem. Full integration will be completed by December 31, 2021.
The Envestnet Insurance Exchange provides end-to-end management
of annuity solutions within the Envestnet platform. Upon completion
of the onboarding process to the Envestnet Insurance Exchange,
advisors will be able to seamlessly plan, research, propose,
open, and actively manage annuities from leading carriers. For
enterprises, the upgrade provides enhanced analytics, suitability,
and compliance tools for greater efficiency and more transparent
oversight across all annuity products—all within a unified
platform.
"This upgrade introduces more advisors to the advantages of
end-to-end annuity management, which are typically not available
through an integrated advice framework," said Donna Peeples, Chief Relationship Officer of
Envestnet. "The Envestnet Insurance Exchange represents
another leap forward in Envestnet's commitment to deliver on
financial wellness within an ecosystem that helps to create the
Intelligent Financial Life™."
The technical and feature enhancements advisors will receive
through the upgrade include:
- Expanded Product Access Beyond Variable Annuities:
Advisors can access far more than just variable annuity products,
including fixed (FA/MYGA), indexed (FIA/IVA), and registered
indexed (RILA) vehicles that encompass both commission- and
fee-based annuities.
- Financial Planning: Advisors can implement annuity
strategies within a client's financial plan via direct access to
the Envestnet platform.
- Licensing & Appointment Checks: The enhanced
compliance tools can help advisors reduce not-in-good-order
occurrences due to licensing deficiencies, further decreasing
service costs and time spent mending errors.
- Research: Advisors can access research on all annuity
products available on the Envestnet Insurance Exchange, including
rates and performance, and comprehensively demonstrate the benefits
of each annuity under investment consideration through
illustrations and side by side comparisons.
- Consolidated Proposal Capabilities: Insurance solutions
can be seamlessly incorporated into proposals.
- Active Annuity Management: Advisors can access daily
annuity reporting and a data-driven annuity analytics engine—and
also implement in-force policy transactions. All of these features
strengthen advisors' ability to actively monitor and manage
annuities.
"The Envestnet Insurance Exchange represents technology and
solutions that come together to deliver 'annuities made easy' for
advisors," said Andrew
Stavaridis, Group Head, Solutions Distribution at
Envestnet. "We believe this upgrade will be instrumental in
helping a greater number of Envestnet-empowered advisors to access
industry leading insurance carriers with transparency and
efficiency—allowing them to help their clients achieve better
outcomes, and ultimately, to expand their practices."
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 106,000 advisors across more than
5,100 companies—including 17 of the 20 largest U.S. banks, 47 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.
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 clients reach their
goals.
To learn more, please visit https://fid-x.com/ and follow
FIDx on LinkedIn.
Envestnet, Inc. has a financial interest and occupies board of
director positions in Fiduciary Exchange, LLC (FIDx).
Neither Envestnet, nor Fiduciary Exchange, LLC are licensed
insurance agencies and as such, do not sell or make recommendations
related to the purchase of annuity or insurance products. Insurance
products are only sold or recommended by insurance licensed
financial professionals or through a third-party intermediary
licensed as an insurance agency.
This press release refers to information products or services
that may be in development and not yet available.
Accordingly, nothing in this release should be construed as a
representation or legal agreement by Envestnet to make available
specific products or services (including, without limitation,
concepts, systems, or techniques.)
Media Contact
Dana
Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com
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SOURCE Envestnet, Inc.