Financial advisors using the Envestnet Insurance Exchange will now have access to AIG annuities directly through the platform, according to an announcement made Wednesday. The Exchange, which is powered by FIDx technology, acts as a bridge between insurance carriers and wealth managers, making it easier for the latter to add annuities and other insurance products to their clients’ retirement portfolios.
AIG is the eighth carrier added to the Exchange, which launched in June with six, including Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Company, Nationwide and Prudential Financial. Transamerica joined in October.
In September, Envestnet announced it was developing Guidance Desk, which will allow non-insurance-licensed advisors access to "consulting and fiduciary services" that would enable them to use the Insurance Exchange.