TFS Securities Deploys Envestnet Insurance Exchange & Strategist UMAs for its Advisors

Rhea-AI Summary

Envestnet (NYSE: ENV) launches the Envestnet Insurance Exchange through TFS Securities, enabling advisors to integrate annuity solutions into client portfolios for guaranteed income. The program includes access to the Strategist UMA portfolios, offering diverse investment strategies from six prominent asset managers, backed by PMC's tax management and impact investing technology. Additionally, the platform supports end-to-end management of annuity solutions, enhancing advisor capabilities amid current market uncertainties due to COVID-19. Partnerships with major carriers provide a wide range of annuity products, addressing client needs.

Positive

• Launch of Envestnet Insurance Exchange providing access to reputable carriers and annuity products.
• Integration of annuity solutions into client portfolios for guaranteed income.
• Access to Strategist UMA portfolios from top asset managers, enhancing client investment options.
• End-to-end management of annuities, facilitating advisor operations.
• Partnerships with major carriers expand product offerings.

Negative

• None.

CHICAGO, Sept. 22, 2020 /PRNewswire/ -- Envestnet, Inc. (NYSE: ENV) announces that TFS Securities, Inc., through its TFS Advisory Services arm, has launched the Envestnet Insurance Exchange, an insurance network delivering access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. The Envestnet Insurance Exchange allows TFS advisors to incorporate annuity solutions into client portfolios as a source of guaranteed income.

In addition, TFS is providing its advisors with access to the Strategist UMA program, offering a suite of unified managed account portfolios from six top asset managers on the Envestnet platform. The Strategist UMA portfolios, launched by Envestnet | PMC earlier this year, can meet clients' different levels of risk tolerance, and are wrapped in PMC's exclusive portfolio-overlay technology for incorporating tax management and impact investing. PMC, Envestnet's Portfolio Management Consultants group, partnered with BlackRock, Clark Capital, Legg Mason, PIMCO, and Russell Investments to create 86 multi-asset portfolios combining individual stocks, individual bonds, mutual funds, and exchange-traded funds (ETFs). TFS advisors can answer a series of questions in the Envestnet platform's Digital Portfolio Consultant to identify a Strategist UMA portfolio that best suits each client's needs and goals.

"Our Strategist UMA portfolios offer advisors the opportunity to diversify client portfolios with strategies from some of the top asset managers, while also easily applying values-based investing and tax-smart elements," said Brandon Thomas, Chief Investment Officer of Envestnet | PMC. "Simplified access to these solutions through our platform brings TFS advisors a wider selection of resources to harness in order to help make financial wellness a reality for their clients."

Powered by FIDx, the first product-agnostic platform to seamlessly integrate the benefits of insurance alongside investment products, the Envestnet Insurance Exchange provides end-to-end management of annuity solutions, from pre- to post-issuance. Advisors with TFS can plan, research, generate proposals, manage in-force transactions, and create client reports within the Envestnet wealth management platform. The TFS home office team can also utilize the Envestnet Insurance Exchange's licensing and appointment check tools, as well as integrated applications that help monitor in-force transactions and adherence to client investment policies. In addition, insurance-licensed registered representatives and investment advisory representatives with TFS can open policies through the Envestnet Insurance Exchange.

"The market downturn and extreme uncertainty driven by the COVID-19 pandemic require advisors to reevaluate investment options for clients saving for, approaching, and in retirement—and annuities are definitely worth a second look in the present environment," said John Yackel, Head of Strategic Initiatives for Envestnet. "We believe that providing access to annuity solutions that are fully integrated with more traditional investments is key for helping advisors guide clients through this crisis."

Together, Envestnet and FIDx have secured a robust lineup 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. A broad variety of commission- and fee-based annuities are supported by the Envestnet Insurance Exchange.

"Through our partnership with TFS, we are empowering their advisors to access guaranteed income solutions in a digital experience during this time," said Rich Romano, Chief Executive Officer of FIDx. "The annuity solutions on the Envestnet Insurance Exchange can be managed from end to end, and integrated with other client investments, in a single platform for advisors as part of their mission to help clients achieve their long-term financial goals and optimize investment outcomes."

Lincroft, New Jersey-based TFS Securities, Inc. is home to nearly 200 independent financial advisors and is a division of Tomorrow's Financial Services, Inc. The firm was established in 1968 and provides a full range of financial products and services to enable clients to achieve the goals set out in their financial plans.

"We believe comprehensive information and guidance are the necessary components for making sound financial decisions," said Thomas P. Hyland, President of The TFS Family of Companies. "The Envestnet Insurance Exchange and Strategist UMA program will provide our advisors with access to high-quality annuity products and managed portfolios that can help clients effectively navigate present market conditions as part of a truly holistic plan."

About Envestnet

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 103,000 advisors across more than 4,900 companies including 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies, leverage the Envestnet platform to grow their businesses and client relationships.

For more information on Envestnet, please visit www.envestnet.com, subscribe to our blog, and follow us on Twitter (@ENVintel) and LinkedIn. For more information about Envestnet | PMC, please visit www.investpmc.com.

About Tomorrow's Financial Services, Inc

TFS was founded centered on the belief that the interests of the client must always come first. Our goal is to provide our clients with comprehensive education and the guidance necessary to make sound financial decisions. Through various subsidiaries, TFS provides a full range of wealth management solutions, financial products, and services for our clients to utilize throughout the implementation of their plans.

The TFS Family of Companies includes: TFS Securities, Inc.; TFS Advisory Services; TFS Wealth Management; TFS Insurance Brokerage; TFS Mortgage Corporation, Inc.; and TFS Income Tax Preparation Services, Inc. With offices nationwide, TFS is home to nearly 200 independent financial advisors who are licensed and qualified to provide our full line of products and services. TFS is one of the few true "one-stop" financial services organizations, and remains committed to providing the highest level of customer service and support. For more information, visit www.wealthtfs.com.

About 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. 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 their clients reach their goals.  

Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange LLC (FIDx).

This press release does not constitute an endorsement of any firm or individual and is not 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.

Media Contacts

Dana Taormina
JConnelly for Envestnet
973.647.4626
envestnetpr@jconnelly.com

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SOURCE Envestnet, Inc.; Fiduciary Exchange, LLC (FIDx)

FAQ

What is the Envestnet Insurance Exchange launched by TFS Securities?

The Envestnet Insurance Exchange is a network that allows TFS advisors to integrate annuity solutions into client portfolios, offering guaranteed income options.

How does the Envestnet Insurance Exchange benefit financial advisors?

It provides access to a variety of annuity products and enables advisors to manage these alongside traditional investment solutions, enhancing their service offerings.

What partnerships support the Envestnet Insurance Exchange?

The exchange includes partnerships with major insurance carriers like AIG, Allianz Life, and Prudential Financial, providing a wide range of annuity options.

When was the Envestnet Insurance Exchange announced?

The Envestnet Insurance Exchange was announced on September 22, 2020.

What investment strategies are available through the Strategist UMA program?

The Strategist UMA program offers diverse multi-asset portfolios tailored to various risk tolerances from top asset managers, enhancing investment flexibility for clients.