Covr to power RetireOne’s life insurance experience

A new partnership with Covr Financial Technologies fills out the RetireOne platform of insurance solutions for Registered Investment Advisors (“RIAs). RIAs may work through RetireOne’s desk of insurance experts to get quotes, analysis, recommendations and coverage for clients in need of insurance protection. Included in the offering are term, whole life, variable universal life, long-term care, and disability insurance from multiple highly-rated carriers.

“Without insurance licenses, fee-only fiduciaries have had to either ignore the insurance component of client financial plans, or outsource it to insurance agents,” said RetireOne founder and CEO David Stone. “It can be risky to send clients to someone who may not have their best interests in mind. RetireOne’s desk of experts work directly with the advisors to find solutions that fit their clients’ plans as they design them. And as financial advice grows more automated and commoditized, advisors need to add differentiating capabilities. Insurance planning helps them keep an eye on the whole client and provides tangible advantages over those who don’t offer it.”

IARs of RIAs with insurance licenses may also leverage this turnkey RetireOne insurance solution with the added depth of Envestnet MoneyGuide. Covr’s robust integration with Envestnet MoneyGuide brings that software’s latest insurance planning features to bear, allowing subscribers to create projections, model the impact of insurance on client financial plans, and apply online.

“Life insurance protection is a critical component of a comprehensive financial plan,” said Covr CEO Mike Kalen. “As financial planning evolves and demand grows for financial advice from fiduciaries, we want to nurture that growth by working with the RetireOne team to support and educate these advisors as they work to successfully integrate insurance into their practices and into client plans.”

Covr and RetireOne will team up to produce ongoing educational webinars, create content, and provide support for RIAs wishing to grow their practices with insurance protections for their clients. “As insurance and annuity back office for over 900 RIAs, we have evolved our platform to meet their growing needs,” said David Stone. “Covr technologies help us create optimal advisor and client experiences, and we’re excited to have them on board to help grow and improve our platform capabilities.”