RIA Firm's Advisors Given Direct Access to Annuity Solutions from Top Insurance Carriers
BERWYN, Pa., May 21, 2020 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) has announced that Alphastar Capital Management, LLC (Alphastar), a Registered Investment Adviser (RIA) firm, launched the Envestnet Insurance Exchange, an insurance network providing access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. The launch is part of a strategic partnership between Financial Independence Group and Fiduciary Exchange LLC (FIDx), the product-agnostic technology platform that powers the Envestnet Insurance Exchange.
Alphastar offers multi-disciplined institutional asset management, sales and marketing, training, technology, and support, along with 401(k) solutions, through its network of investment advisor representatives (IARs), sub-advised RIAs and solicitors. The Envestnet Insurance Exchange provides end-to-end management of annuity solutions, from pre- to post-issuance. Alphastar advisors can seamlessly plan, research, generate proposals, open policies, manage in-force transactions, and create client reports within the Envestnet platform.
"We are glad to partner with Alphastar to make high-quality insurance solutions accessible in a digital experience to support RIAs as they meet the evolving needs of their clients today," said Rich Romano, Chief Executive Officer of FIDx. "Within this partnership, we are well-aligned to support a holistic wealth planning approach that includes protection and income solutions."
"Alphastar advisors have a deep appreciation of insurance as an asset class and its position in a client portfolio. We are excited that FIDx has integrated this solution within the Envestnet platform to provide a fully unified system to illustrate, transact, and report on an annuity," said Brian Williams, Managing Partner of Alphastar and Co-CEO of Financial Independence Group. "This is a game changer in the investment management space that elevates the advisor/client experience to a new level."
The Envestnet Insurance Exchange, powered by FIDx, is a technology solution that connects the brokerage, insurance, and advisory ecosystems. Together, Envestnet and FIDx have secured a strong line-up of annuity solutions from AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Co., Nationwide, Prudential Financial, and Transamerica. The Envestnet Insurance Exchange supports a wide range of both commission- and fee-based annuities.
"Incorporating protection strategies into the wealth management process empowers enterprise firms and advisors with a streamlined, digital process," said John Yackel, Head of Strategic Initiatives at Envestnet. "As advisors and their clients seek to adapt to changing circumstances during this period of volatility and uncertainty, the Envestnet Insurance Exchange gives Alphastar advisors a leading edge in helping clients on their journey to financial wellness."
About Alphastar Capital Management
Alphastar strives to lead the next generation of registered investment advisor firms by providing unparalleled service, support, and world class investment strategies. Built on its core principal that advisors should focus on their relationships, ACM empowers its network of IARs, sub-advised RIAs, and solicitors with its unique business model and provides a service-focused investment management platform. With superior sales support and a cutting-edge technology at its disposal, Alphastar offers advanced resources that enhance the advisor/client experience, and fuel the growth of advisor practices.
As an all-encompassing Registered Investment Adviser, Alphastar offers multi-disciplined institutional asset management, financial planning, sales and marketing, training, technology, and first-class support—along with 401(k) solutions.
Alphastar is an advisor working alongside industry trailblazer, Financial Independence Group®. Alphastar Capital Management provides a tactical alliance to advisors wanting to expand their lines of business. This unique and holistic partnership allows advisors to manage investment portfolios simultaneously and seamlessly with your client's annuities, life insurance and long-term care. To learn more, please visit https://www.alphastarcm.com and follow Alphastar on LinkedIn.
FIDx is a technology solution that seamlessly connects the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry's leading carriers. 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 built from the ground up as an integrated platform, FIDx provides a future-ready solution to bridge advisory firms to insurance carriers so advisors can truly deliver comprehensive advice. To learn more, please visit https://fid-x.com/ and follow FIDx on LinkedIn.
Envestnet, Inc. has a financial interest and occupies board of director positions in FIDx.
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 103,000 advisors and more than 4,900 companies including: 16 of the 20 largest U.S. banks, 46 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.
JConnelly for FiDx/Envestnet
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SOURCE Envestnet, Inc.