LANSING, Mich.--(BUSINESS WIRE)--
New collaboration allows advisors to better incorporate insurance solutions into their clients’ portfolios
Jackson National Life Insurance Company® (Jackson®) today announced that it will offer its complete product suite of advisory annuities on the Envestnet Insurance Exchange, including Perspective Advisory II, Elite Access Advisory and MarketProtector Advisory. The new collaboration brings together a leading provider of annuities in the U.S. with a leading provider of intelligent systems for wealth management and financial wellness.
Jackson believes advisors should be able to choose what is right for their clients without having to take on additional administrative burdens, so Jackson is working with Envestnet to make annuities easier to work with inside of a client’s portfolio. Advisors will be able to create more value for their clients by holistically considering longevity risk, sequence of returns risk, market risk, and mortality risk within the Envestnet wealth management platform. This step is part of Jackson’s broader initiative to modernize the annuity experience for advisors and consumers.
“We’re thrilled to partner with Envestnet to create a more holistic wealth planning experience for advisors and their clients, removing the complexity of multiple platforms in order to include annuities in the planning conversation,” said Dev Ganguly, senior vice president and chief information officer, Jackson. “This new collaboration means Jackson can meet the advisors where they are and more easily provide consumers with fiduciary-friendly insurance solutions that seamlessly integrate into Envestnet’s wealth management platform.”
The Envestnet Insurance Exchange connects select insurance carriers and established account processing vendors with Envestnet enterprise clients, allowing advisors to deliver cohesive and consistent holistic advice by incorporating insurance solutions into the wealth management process. Envestnet has partnered with Fiduciary Exchange LLC (FIDx), a firm specializing in integrating advisory and insurance ecosystems, to develop and manage its Insurance Exchange. The exchange features variable, fixed, fixed-indexed, contingent-deferred and private placement annuities with leading insurance carriers.
“We’re proud to have Jackson as one of our partners on the new Envestnet Insurance Exchange,” said Bill Crager, president, Envestnet. “The Envestnet Insurance Exchange not only streamlines advisors’ wealth management practices, it makes it easier for them to guide clients toward financial goals.”
The Envestnet Insurance Exchange will be available through various tools and features within the advisor portal of the Envestnet Platform later this 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.
Jackson is committed to providing education, resources and value-add programs to help financial advisors build their businesses. Financial professionals who would like to learn more about the company can visit www.jackson.com/dash or call Jackson at 800-711-JNLD (5653).
Jackson is a leading provider of retirement products for industry professionals and their clients. The company and its affiliates offer variable, fixed and fixed index annuities designed for tax-efficient growth and distribution of retirement income for retail customers, as well as products for institutional investors. Jackson is a proud founding member and co-chair of the Alliance for Lifetime Income, a nonprofit 501(c)(6) organization formed and supported by 24 of the nation’s financial services organizations to create awareness and educate Americans about the importance of protected lifetime income. With $264.9 billion in IFRS assets*, the company prides itself on product innovation, sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, Jackson develops proprietary research, industry insights and financial representative training on retirement planning and alternative investment strategies. The company is also dedicated to corporate philanthropy and supports nonprofits focused on strengthening families and creating economic opportunities in the communities where its employees live and work. For more information, visit www.jackson.com.
*Jackson has $264.9 billion in total IFRS assets and $251.6 billion in IFRS policy liabilities set aside to pay primarily future policyowner benefits (as of June 30, 2018). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent company.
Jackson is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups, serving over 26 million customers with $877.2 billion in assets under management (as of June 30, 2018). Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
This press release may contain certain statements that constitute “forward-looking statements.” Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished. Any forward-looking statements reflect Jackson’s views and assumptions as of the date of this press release and Jackson disclaims any obligation to update forward-looking information.
Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
Variable annuities are long-term, tax-deferred investments designed for retirement, involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½.
Variable Annuities (ICC17 VA790, VA790, ICC16 VA780, VA780, are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and Jackson National Life Insurance Company of New York® (VA790NY, VA780NY, (Home Office: Purchase, New York). Variable products are distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. These contracts have limitations and restrictions, including possible withdrawal charges, recapture charges and excess interest adjustments (interest rate adjustments in New York). Contact your representative or the Company for more information.
MarketProtector Advisory Individual Modified Single Premium Deferred Fixed Annuity with Index-Linked Interest and Market Value Adjustment (FIA255, ICC17 FIA255) is issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC. May not be available in all states and state variations may apply. This product is a fixed annuity that does not participate in any stock or equity investments and has limitations and restrictions, including market value adjustment. During the Indexed Option Period, the annuity’s cash withdrawal value may be less than the initial premium. The design of this annuity contract emphasizes the protection of credited interest rather than the maximization of interest rate crediting.
Envestnet, Inc. (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.
For more information on Envestnet, please visit www.envestnet.com and follow @ENVintel.
Envestnet and Jackson are unaffiliated.