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FIDx Partners With RetireOne

The move will help RIAs integrate insurance offerings into their existing investment and advice services.

Fiduciary Exchange LLC (FIDx), the technology platform powering Envestnet’s Insurance Exchange, has partnered with RetireOne, which provides insurance and annuity back-office services to more than 900 registered investment advisors and fee-based advisors.

The partnership will make it easier for RIAs and their existing wealth platforms to connect with insurance carriers.

“We believe protection solutions are critical to every client portfolio and this partnership allows RIA enterprises and advisors to have full access to our income and protection solutions,” FIDx CEO Rich Romano said in a statement.

RetireOne will now be able to digitally access annuities through the Envestnet platform.

The Envestnet portal integrates with its wealth management platform and is designed to bring insurance products directly into an advisor’s practice, with carriers AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Company, Nationwide, Transamerica and Prudential Financial offering a variety of annuities.

Late last year, RetireOne announced it would acquire EF Legacy Securities, a broker/dealer platform owned by Edelman Financial Engines, in a bid to expand insurance and annuity back-office services for RIAs who are interested in transitioning from commission-based to fee-based annuities options.

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TAGS: Insurance
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