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Global Atlantic first carrier to offer annuities on Envestnet Insurance Exchange

Insurance Forums Staff

NEW YORK, New York — Global Atlantic Financial Group announced June 28 that it will be the first carrier to offer annuities on the Envestnet Insurance Exchange, a recently introduced program that 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.

“We’re proud to be an early partner with Envestnet by providing our annuity solutions on the Insurance Exchange. This capability will make it easier for advisors to demonstrate the valuable role annuities can play for their clients,” said Paula Nelson, President, Retirement, at Global Atlantic.

Initially Global Atlantic’s fixed annuities, including fixed-rate and fixed index annuities, will be available to Envestnet users at banks, broker-dealers, independent insurance agencies and Registered Investment Advisors (RIAs) throughout the United States. According to LIMRA statistics through the first quarter of 2018, Global Atlantic’s fixed annuities are among the top five best-selling in the industry. The company ultimately expects to add registered annuities to the Envestnet platform.

“The Envestnet Insurance Exchange not only streamlines advisors’ wealth management practice, it makes it easier for them to guide clients toward financial goals,” said Bill Crager, president of Envestnet. “Offering some of the most well-known products from Global Atlantic’s robust annuity lineup underscores our focus on providing advisors outstanding offerings for their clients.”

The Envestnet Insurance Exchange seamlessly 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 offers fixed, fixed-indexed, variable, contingent-deferred and private placement annuities with leading insurance carriers.

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.

About Global Atlantic Financial Group: Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs.

Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013. Its success is driven by a unique heritage that combines deep product and distribution knowledge with insightful investment and risk management capabilities, alongside a strong financial foundation.

About Envestnet: 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.

More than 87,000 advisors and 3,000 companies including 16 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. For more information visit www.envestnet.com.



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