Flourish announces Flourish Annuities

MassMutual subsidiary Flourish, which gives registered investment advisors access to financial products, is now offering annuities.

Flourish Annuities is “operationally streamlined and simplified” to save time and minimize complexity. Key features include the Flourish Insurance Agency, a licensed insurance producer and outsourced insurance desk, which eliminates the need for advisors to hold insurance licenses; a digital application process; and a “diligently vetted” marketplace of annuities from multiple carriers.

At launch, the Flourish Annuities marketplace will offer fee-based multi-year guaranteed annuities and intends to offer additional types of annuities in the future.

Founded in 2017 and acquired by MassMutual in February 2021, Flourish supports ~$4.1 billion in assets under custody and is used by more than 700 wealth management firms.

“Annuities can bring clear benefits to client portfolios. Until now, the user experience for both advisors and clients has made annuities more trouble than they’re worth for independent RIAs. We’ve confronted these challenges head-on to deliver easy-to-use, compliant access to the world of annuities for advisors looking for better, more differentiated portfolio options. Flourish Annuities introduces a convenient way for RIAs to open the door to these tax-advantaged investments for their clients. As a marketplace of fee-based annuities for RIAs and their clients, Flourish Annuities offers RIAs a truly new opportunity to effortlessly differentiate their client portfolios and improve outcomes.” – Max Lane, Flourish CEO.