MINNEAPOLIS – August 13, 2018 – Investment advisors have a new resource available on the Envestnet platform to help them better incorporate insurance solutions into their client’s portfolio through a strategic partnership announced today between Allianz Life Insurance Company of North America (Allianz Life®) and Envestnet, a leading provider of intelligent systems for wealth management and financial wellness.
Allianz Life’s entire portfolio of annuity products will be available on the Envestnet Insurance Exchange, including both advisory- and commission-based annuities. The Envestnet Insurance Exchange, announced this past May, integrates insurance solutions into the wealth management process on the Envestnet platform to further streamline and enhance advisors’ ability to deliver the lifecycle of advice. With this new partnership, advisors at banks, broker-dealers, independent insurance agencies and registered investment advisors (RIAs) throughout the United States will be able to research and potentially recommend Allianz Life annuity solutions as an option for their clients.
“We have consistently heard from advisors that they want to offer more holistic solutions to help their clients achieve their financial goals,” said Tom Burns, chief distribution officer, Allianz Life. “Having our annuity products available on the new Envestnet Insurance Exchange helps meet that need with the added benefit of it being available on an easy-to-use online platform.”
The Envestnet Insurance Exchange will help streamline the entire annuity sales process from start to finish, allowing advisors to offer their clients more comprehensive advice by incorporating insurance solutions into wealth management. RIAs can do everything from submitting an application to managing a client’s assets – all in one integrated technology platform. This means advisors will be able to better incorporate annuity and insurance solutions into their client’s portfolio, offering a more well-rounded wealth management approach.
“We’re proud to have Allianz Life as one of our partners on the new Envestnet Insurance Exchange,” said Bill Crager, President, Envestnet. “By offering the company’s annuities, advisors in the Envestnet network will have innovative retirement solutions at their fingertips and will be able to streamline their practice and provide more holistic advice to their clients.”
The Evestnet Insurance Exchange can be accessed through various tools and features on Envestnet’s Advisor Portal. Envestnet has partnered with Fiduciary Exchange LLC (FIDx), a firm specializing in integrating advisory and insurance ecosystems, to develop and manage its Insurance Exchange, and the platform additions are scheduled to be available at the end of the year. Financial advisors will need an insurance license to introduce insurance products. For those advisors who are not licensed, Envestnet will be offering a service called Guidance Desk that will allow unlicensed RIAs access to the consulting and fiduciary services that would enable them to use the Insurance Exchange. This service is still in development.
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting and practice management software for advisors. Envestnet | Retirement Solutions provides an integrated platform that combines leading practice management technology, research, data aggregation and fiduciary managed account solutions.
More than 88,000 advisors and 3,500 companies including: 15 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, 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.
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