FIDx’s Insurance Exchange (Ix) Provides Annuity Solutions to Wealth Management Industry

The Envestnet Insurance Exchange-offered technology platform modernizes annuity distribution to enable advisors to provide protected income and downside protection solutions from leading carriers.

(Image source: FIDx homepage.)

Fiduciary Exchange, LLC (FIDx; Berwyn, Pa.) has launched the Insurance Exchange (Ix) to provide a product-agnostic exchange that seamlessly connects advisors to best-in-class annuities and insurance solutions from the industry’s leading carriers. FIDx says it has created a direct channel to the advisory market by making annuity sales as smooth and seamless for advisors as investment products. The result, according to the company is that investment firms can now integrate both offerings on a single platform for the first time. The company is the first insurance technology available on Envestnet’s Insurance Exchange.

Dan MacKinnon, CEO, FIDx.

“FIDx is providing a retirement solution by bridging the gap between carriers and the wealth management industry,” comments Dan MacKinnon, CEO, FIDx. “Through a single relationship with FIDx, carriers can gain access to an ever-increasing pool of advisors while wealth planners finally have the power to offer protected income and downside protection as part of a holistic managed portfolio solution. This bridge from advisory platforms to insurance carriers supports the entire advice lifecycle from accumulation to decumulation—all on one platform.”

Investors frequently purchase annuities to supplement retirement funds as well as generate a form of protected income to last throughout their lifetime, notes an FIDx statement. FIDx’s Ix acts as a bridge from wealth management platforms to insurance carriers by enabling advisors to better integrate annuities into their financial practices, according to the company, bringing the accessibility of annuities on par with mutual funds, exchange-traded funds, and separately-managed accounts.

FIDx describes FIDx’s Ix is a neutral, agnostic solution built from the ground up, offering each partner unbiased access to the best-in-class solutions in every category so they have the freedom to make the right choices for their business and their clients.

Making it as Easy as Possible for Carriers to Market Annuities Successfully

“Americans are struggling with their ability to ensure adequate income during retirement, especially in a time when living expenses have continued to sky rocket,” adds MacKinnon. “We are aiming to make it as easy as possible for carriers to market annuities effectively and for advisors to ensure their clients can make financial wellness a reality. In doing so, we have delivered a holistic and comprehensive solution that meets the needs of advisors, insurance carriers and ultimately investors.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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