Introducing an Outsourced Insurance Desk for RIAs and Fee-Based Advisors

BERWYN, Pa., April 23, 2024 /PRNewswire/ -- Today, Fiduciary Exchange LLC (FIDX) and its broker dealer, FIDX Markets, announces the launch of FIDX Desk, a new outsourced insurance desk (OID). FIDX Desk will enable RIAs and fee-based financial professionals to effortlessly integrate annuity products into their offerings, regardless of their insurance licensing status.

FIDX Desk is a comprehensive digital solution for annuity management. It tackles the obstacles Registered Investment Advisors face, enabling them to present the potential advantages of annuity solutions—such as income and legacy planning—to their clients.* Working closely with financial professionals, FIDX Desk facilitates the establishment of these accounts. Additionally, it assists them in managing investments in annuities that were previously purchased through former broker dealers. Importantly, there is no additional fee to financial professionals for the use of the FIDX Desk. 

"The benefits annuities can add to investment portfolios are well-documented, yet their integration has been largely overlooked by independent RIAs due to the cumbersome and inefficient processes involved," said Scott Bowers, FIDX Desk CEO. "By simplifying access to the annuity market, we're enabling financial professionals to significantly enhance their portfolio services. With the introduction of FIDX Desk, RIAs now have access to a user-friendly platform offering a curated selection of fee-only annuities, paving the way for tax-efficient investment strategies for their clients."

Key highlights include:

• Full Lifecycle Annuity Management: With an easy-to-navigate dashboard, financial professionals can research products, oversee the application process, and advise on a client's annuity, all from one platform. 
• RIA Transition Services: Financial professionals can efficiently transition to a fee-based business, letting FIDX Desk act as the agent of record.
• Tailored Fee-Based Solutions for RIAs: Clients gain access to a wide array of annuity products from some of the most well-known insurers in the industry, each offering key features such as retirement income strategies, growth potential, and legacy planning benefits.

FIDX Desk is now available to all advisors. Users on the Envestnet | Tamarac platform will have access to an integration with the Tamarac reporting system.

"Partnering with FIDX Desk further diversifies our suite of offerings to meet the evolving needs of RIAs, fee-based financial professionals, and their clients," said Phill Rogerson, CFA, Head of RIA Channel at Envestnet. "The seamless integration of FIDX Desk within the Envestnet platform allows for annuity integration and enriches our ecosystem, empowering advisors with comprehensive, efficient tools to drive client success. This collaboration underscores our commitment to innovation and our mission to provide advisors with the resources they need to offer a diverse suite of investment solutions."

*As a reminder, you may want to contact your internal legal and compliance team(s) to confirm that the use of insurance solutions are permitted by your firm.

About FIDX

Fiduciary Exchange LLC (FIDX) is a technology-empowered network that integrates the brokerage, insurance, and advisory ecosystems for best-in-class 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.

FIDX Desk is the Outsourced Insurance Desk for FIDX Markets LLC, a Registered Broker Dealer, Member FINRA/SIPC. It launched in 2023.

To learn more, please visit fidxdesk.io.

Neither Envestnet nor Fiduciary Exchange LLC provide any advice or make any recommendations with respect to any insurance or other financial products and does not solicit, offer or sell any insurance or other financial products.

Before investing, investors and their representatives should carefully consider the investment objectives, risks, charges and expenses of any annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses provide this and other important information. Please contact your financial professional to obtain prospectuses. Please read the prospectus carefully before investing.

Neither Envestnet, Fiduciary Exchange, LLC nor FIDX Markets LLC provide tax or legal advice. Nothing contained in this document is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. All investments carry a certain risk, and there is no assurance that an investment will provide positive performance over any period of time. Investment decisions should always be made based on the investor's specific financial needs and objectives, goals, time horizon and risk tolerance.

FIDX Markets LLC, member FINRA/SIPC, is a wholly owned subsidiary of Fiduciary Exchange, LLC (FIDX) and conducts business as FIDX Desk. FIDX Markets LLC and Fiduciary Exchange, LLC are affiliates of FIDX Group LLC and Envestnet.  Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange, LLC. FIDX facilitates a program that integrates insurance solutions into the wealth management process on the Platform. FIDX Markets LLC and the FIDX Desk representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered.  FIDX Desk and its agents are presently licensed to sell insurance products in all states except CA, FL, GA, IL, MA, MN, NM, NY, TX and WA.  FIDX Markets' CRD number is 322769.

Media Contacts:
Sabrina Scarpa
JConnelly for FIDX and Envestnet
FIDX@jconnelly.com

SOURCE Fiduciary Exchange, LLC (FIDx)