Envestnet, Inc. has announced that O.N. Investment Management Co. (ONIMCO) launched the Envestnet Insurance Exchange, an insurance network providing access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. As part of ONIMCO’s commitment to bringing financial stability and strength to customers, implementing the Envestnet Insurance Exchange empowers its advisors to present clients with unified advice to help them grow and protect their wealth.
The Envestnet Insurance Exchange provides end-to-end management of annuity solutions, from pre- to post-issuance. ONIMCO’s advisors can seamlessly plan, research, generate proposals, open policies, manage in-force transactions, and create client reports within the Envestnet platform. ONIMCO’s home office team will also benefit from the Insurance Exchange, with licensing and appointment checks as well as integrated compliance tools that monitor in-force transactions and adherence to client investment policies.
“We are ready to empower our client partners with access to high-quality annuity solutions found on our Insurance Exchange, and we are grateful that ONIMCO has decided to join us on our journey to help create better outcomes for clients,” said John Yackel, Head of Strategic Initiatives at Envestnet. “Incorporating protection strategies into the wealth management process is a major step forward in our work to develop a holistic platform that enables advisors to help customers meet their short- and long-term needs as they work toward achieving the ultimate goal—financial wellness.”
The Envestnet Insurance Exchange is backed by the Fiduciary Exchange, LLC (FIDx), a technology-powered network that joins the brokerage, insurance, and advisory ecosystems. Together, Envestnet and FIDx have secured a strong line-up of annuity solutions from AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Co., Nationwide, Prudential Financial, and Transamerica. The Envestnet Insurance Exchange supports a wide range of both commission- and fee-based annuities.
“By integrating annuities within the Envestnet platform our advisors can help provide clients with retirement security, while streamlining our advisory lifecycle workflow via a full digital experience,” said Adam Mackintosh, Second Vice President, Investment Advisory at ONIMCO. “We’re excited about the opportunity to enhance our wealth management business by providing our advisors with efficient access to protection strategies and to a technology platform that helps balance growth and security.”
“FIDx is thrilled to see ONIMCO utilize the Envestnet Insurance Exchange as a way to offer long-term protection solutions to clients through Envestnet’s single, unified platform,” said Dan MacKinnon, Chief Executive Officer of FIDx. “With a wide selection of products and automated processes bolstered by the Envestnet Insurance Exchange, we are confident ONIMCO can focus more on advising and servicing customers during important life stages and less on time-consuming administrative tasks.”
Envestnet, Inc. is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives. Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet | Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered investment advisers (“RIAs”). Envestnet | MoneyGuide provides goals-based financial planning applications. Envestnet Data & Analytics enables innovation and insights through its Envestnet | Yodlee data aggregation platform. For more information on Envestnet, please visit www.envestnet.com.
Established in 1969, O.N. Investment Management Company (ONIMCO) is an SEC Registered Investment Adviser and a subsidiary of The O.N. Equity Sales Company (ONESCO), a full-service broker/dealer registered with the SEC and FINRA. ONESCO is a wholly owned subsidiary of The Ohio National Life Insurance Company.
ABOUT FIDUCIARY EXCHANGE, LLC
Fiduciary Exchange, LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers. Motivated by its mission to expand the frontiers of the wealth management space and provide holistic solutions to address investors’ changing needs, 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 led by seasoned industry veterans and built from the ground-up as an integrated platform, FIDx is providing a modern solution to bridge advisory firms to insurance carriers so advisors can truly deliver comprehensive advice, enabling their clients to achieve retirement security.
Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange, LLC (FIDx).