Envestnet’s latest trick? Offering annuities
June 4, 2019 by Sean Allocca
Envestnet, the turnkey asset management platform used by hundreds of RIAs, will now carry annuities, adding both fee-based and commission insurance products to the advisor arsenal.
The firm’s Insurance Exchange offers products from six carriers, including Allianz Life, Nationwide and Prudential, and gives advisors on the platform access to variable, structured, fixed and indexed annuities, according to a company press 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. The deal gives insurance providers an avenue to access advisors, while wealth management firms get the options of guaranteed income and downside protection, according to Fiduciary Exchange CEO Dan MacKinnon.