Transamerica Forms a Strategic Alliance with FIDx, Joining the Insurance Exchange (Ix)
October 22, 2019 by Fiduciary Exchange, LLC (FIDx)
BERWYN, Pa., Oct. 17, 2019 /PRNewswire/ — FIDx, the first product-agnostic platform to integrate annuity sales with investment products, today announced a strategic alliance with Transamerica to provide annuities to investors and join the Insurance Exchange (Ix) platform. Acting as a bridge between insurance carriers and wealth management platforms, FIDx provides Transamerica access to a pool of advisors who previously could not integrate annuities alongside investment portfolios, further helping them to address the financial planning needs of their clients.
“We are excited to welcome Transamerica to join the FIDx platform,” said Dan MacKinnon, CEO of FIDx. “We are dedicated to continuing to expand our offerings and integrate with the top insurance carriers in the industry in order to ensure advisors have a variety of applicable annuity products for their clients to better meet their individual needs.”
Transamerica is an innovator in the marketplace with its fee-based annuities, and this integration will allow advisors participating in the Insurance Exchange to have access to Transamerica’s advisory annuities. Transamerica looks forward to expanding its support of the advisor community with its thought leadership resources and tools designed to help advisors develop as professionals and build their practices.
“Transamerica understands the important role annuities have in a well-developed retirement strategy. The FIDx platform and alliance provides us with another outlet to serve those customers and their advisors in a way that is convenient for them,” said Joe Boan, Senior Managing Director for Individual Solutions at Transamerica. “It was a natural opportunity, and we now can expand our client base and help more people to save, invest, protect and retire.”
FIDx officially launched the Insurance Exchange (Ix) in June 2019, to fill a much-needed gap in the annuity and financial services space. As a product-agnostic exchange, the company acts as the middleman, seamlessly connecting advisors to leading insurance carriers and annuity products. Founded by notable industry problem solvers, FIDx puts annuity sales on par with mutual funds, exchange-traded funds, and separately managed accounts. FIDx is also the first annuity products platform provider supporting Envestnet’s Insurance Exchange.
“As we continue to onboard additional carriers, advisors participating in the Envestnet Insurance Exchange will benefit from expanded annuity offerings for their clients,” said John Yackel, Head of Strategic Initiatives at Envestnet and strategic FIDx partner. “Envestnet will continue to add new carriers as part of our mission to build a fully integrated financial wellness network.”
For more information on FIDx, please visit fid-x.com. To learn more about Transamerica, please visit transamerica.com.
About Fiduciary Exchange, LLC (FIDx)
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).
About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2018, Transamerica fulfilled its promises to customers, paying more than $42.6 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica’s corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions, and asset management products, operating in more than 20 markets worldwide. For the full year of 2018, Aegon managed $920 billion in revenue generating investments. For more information, please visit www.transamerica.com.
SOURCE Fiduciary Exchange, LLC (FIDx)
