Jackson To Offer Annuities On Envestnet Insurance Exchange
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.
