BERWYN, Pa., March 23, 2021 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) and Fiduciary Exchange LLC (FIDx), the only retirement platform representing a single point of connectivity between insurance products and broad financial advisor distribution, today announced another leading insurance carrier, Great American Life Insurance Company®, has joined the fold. The partnership makes annuity solutions from Great American available to financial advisors through FIDx by way of the Envestnet Insurance Exchange, Envestnet | MoneyGuide, and Halo platforms, as well as directly through FIDx's Protection Intelligence platform.
These multiple points of access underscore FIDx's commitment to meet firms and their advisors where and how they do business. This accessibility of insurance products as part of a total portfolio solution allows FIDx-empowered advisors to deliver holistic financial advice customized for their client's needs across providers.
"The addition of Great American enhances our product offering and adds to the list of carriers and solutions available on the FIDx platform," said Rich Romano, Chief Executive Officer at FIDx. "Our mantra of 'Names You Know, Products You Need On a Platform You'll Love' has become even stronger with the addition of this carrier who has been serving clients' insurance needs for decades."
For Great American Life, the partnership opens distribution access to their products during a time when many individuals are concerned about the security and stability of their retirement savings.
"We have implemented significant technology enhancements over the last several years. During that same time, we have been dedicated to partnering with technology platforms to help educate and expand the annuity industry," said Mark Muething, President and Chief Operating Officer of Great American Insurance Group – Annuities. "The vision of FIDx, along with its expansive list of partners, is exactly where we want to be and where we think the future of distribution is going."
FIDx offers a strong lineup of both commission- and fee-based annuities from AIG Life & Retirement, American Equity, Allianz Life, Brighthouse Financial, Eagle Life, Global Atlantic Financial Group, Jackson National Life Insurance Co., Nationwide, Prudential Financial, and Transamerica. Financial advisors can access FIDx to plan, research, compare, propose and manage income and protection solutions through Envestnet, Envestnet | MoneyGuide, and Halo, as well as directly through FIDx Protection Intelligence.
Fiduciary Exchange, LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems to offer annuities and insurance solutions from the industry's leading carriers. FIDx enables advisors to offer guaranteed income and downside protection as core components of their clients' portfolios, integrated within the same wealth management platforms they already use every day. An independent technology firm, FIDx connects advisory firms to insurance carriers through a seamless, digitally-enabled process so advisors can truly deliver comprehensive advice and help clients reach their goals.
Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange LLC (FIDx).
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors and more than 5,100 companies including: 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of FinTech companies, leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors and their clients.
Great American Life Insurance Company®, member of Great American Insurance Group (GAIG), helps simplify the path to financial security through the sale of traditional fixed, fixed-indexed and registered index-linked annuities in the retail, broker-dealer, financial institutions and registered investment advisor markets. The members of GAIG are subsidiaries of American Financial Group, Inc. (AFG). AFG's common stock is listed and traded on the New York Stock Exchange under the symbol AFG. AFG is a Fortune 500 Company with approximately $74 billion in assets as of December 31, 2020. Note: On January 27, 2021, AFG announced that it entered into a definitive agreement to sell its Annuity business, including Great American Life, to Massachusetts Mutual Life Insurance Company (MassMutual). The sale is expected to close in the second quarter of 2021.