BERWYN, Pa., Nov. 6, 2019 /PRNewswire/ -- FIDx, the first
product-agnostic platform to integrate annuities with investment
products, today announced a strategic partnership with AIG Life
& Retirement, the leading provider of
annuities.1 Financial advisors using the
Envestnet Insurance Exchange platform, powered by FIDx technology,
will be able to include AIG annuities as an important part of their
clients' retirement portfolios. Acting as a bridge between
insurance carriers and wealth managers, FIDx provides advisors with
a new platform to partner with AIG Life & Retirement to
integrate annuities with investment portfolios, further helping
advisors to address the financial planning needs of their
clients.
"We are excited to welcome AIG to the FIDx platform," said
Dan MacKinnon, CEO of FIDx.
"As we look to continue to expand our offering and provide
best-in-class insurance carriers to users, partnering with
companies such as AIG is essential. We have a joint mission – to
make annuity offerings as accessible as possible to investors – and
this partnership further demonstrates our dedication to the cause.
We are thrilled to be partnering with AIG and excited to continue
to develop the Insurance Exchange platform for those joining the
ecosystem."
AIG is a leading global insurance organization, and its Life
& Retirement business offers a broad portfolio of protection,
retirement savings, investment and lifetime income solutions. As
part of the new partnership, FIDx will feature AIG fixed, indexed
and variable annuities to advisors using this platform.
"Financial advisors play a critical role in helping individuals
achieve financial and retirement security," said Todd Solash, CEO, Individual Retirement at
AIG. "As investors seek to address longer lives and retirements
that could last three or four decades, it's more important than
ever to meet with an advisor and develop a plan that includes
guaranteed lifetime income. We are excited to bring our strengths
as the number one provider of annuities to those advisors
leveraging the FIDx platform to help their clients enjoy a long,
fulfilling retirement."
The partnership between FIDx and AIG Life & Retirement
combines data, platform, solutions and planning tools that provide
advisors the ability to help clients achieve financial wellness and
balance in their plans. Furthermore, the partnership facilitates
data and protocol standards across the carrier and wealth
management platform industry for ease of use and
efficiency.
"We are proud that AIG, an insurance industry leader, recognizes
the value of our unique approach to incorporate insurance solutions
into a single, integrated financial wellness platform," said
John Yackel, head of strategic
initiatives, Envestnet. "We anticipate seeing an increase in
advisor productivity and efficacy in providing comprehensive
integration with various advisor tools."
FIDx officially launched the Insurance Exchange (Ix) in
June 2019 to fill a much-needed gap
in the annuity and financial services space. As a product-agnostic
exchange, the company seamlessly connects advisors to leading
insurance carriers and annuity products. Founded by notable
industry problem solvers who recognize the important role of
insurance solutions in financial plans, FIDx puts annuities on par
with mutual funds, exchange-traded funds and separately managed
accounts. As a demonstration of the notability of the technology,
FIDx is responsible for supporting the development of Envestnet's
Insurance Exchange.
For more information on FIDx, please visit fid-x.com.
About Fiduciary Exchange, LLC (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. Motivated by its mission to
expand the frontiers of the wealth management space and provide
holistic solutions to address investors' changing needs, 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 led by seasoned industry veterans and
built from the ground up as an integrated platform, FIDx is
providing a modern solution to bridge advisory firms to insurance
carriers so advisors can truly deliver comprehensive advice,
enabling their clients to achieve retirement security.
About AIG Life & Retirement
AIG Life &
Retirement, a division of American International Group, Inc. (NYSE:
AIG), brings together a broad portfolio of protection, retirement
savings, investment and lifetime income solutions to help people
achieve financial and retirement security. The business consists of
four operating segments – Individual Retirement, AIG Retirement
Services, Life Insurance and Institutional Markets – and holds
longstanding, leading market positions in many of the markets it
serves.
AIG Life & Retirement includes AIG member insurance
companies American General Life Insurance Company (Houston, TX), The United States Life Insurance
Company in the City of New York,
and The Variable Annuity Life Insurance Company (VALIC),
Houston, TX as well as their
affiliates. Securities products are distributed by AIG Capital
Services, Inc., member FINRA. Additional information about AIG Life
& Retirement can be found at
www.linkedin.com/showcase/aig-life-&-retirement.
About Envestnet
Envestnet, Inc. (NYSE: ENV)
is a leading provider of intelligent systems for wealth management
and financial wellness. Envestnet's unified technology
empowers enterprises and advisors to more fully understand their
clients and deliver actionable intelligence that drives better
outcomes and improves lives.
Envestnet Wealth Solutions enables enterprises and advisors
to better manage client outcomes and strengthen their practices
through its leading Wealth Management Operating System and advanced
portfolio solutions. Envestnet | Tamarac provides
portfolio management, reporting, trading, rebalancing and client
portal solutions for registered independent advisers
("RIAs"). Envestnet | MoneyGuide provides
goals-based financial planning applications. Envestnet Data
& Analytics enables innovation and insights through
its Envestnet | Yodlee data aggregation
platform.
More than 99,000 advisors and more than 4,100 companies
including: 17 of the 20 largest U.S. banks, 43 of the 50 largest
wealth management and brokerage firms, over 500 of the largest RIAs
and hundreds of internet services companies,
leverage Envestnet technology and
services. Envestnet solutions enhance knowledge of the client,
accelerate client on-boarding, improve client digital experiences
and help drive better outcomes for enterprises, advisors and their
clients.
For more information on Envestnet, please
visit www.envestnet.com and follow us on twitter
@ENVintel.
Envestnet, Inc. has a financial interest and occupies board of
director positions in Fiduciary Exchange LLC (FIDx).
1 LIMRA, U.S. Individual Annuity Sales (2019 Second
Quarter Results),
https://www.limra.com/globalassets/limra/newsroom/fact-tank/sales-data/2019/q2/2q-2019-annuity-company-rankings.pdf
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SOURCE FIDx