Envestnet Inc. hopes to start a broad release of its new insurance exchange program in June, the company announced today.
The Chicago-based company said it’s now working to get advisors onto a pilot version of the Envestnent Insurance Exchange.
Six life insurers have agreed to put annuities on the exchange program’s shelves.
The issuers are Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National, Nationwide and Prudential Financial, according to Envestnet.
The issuers will offer commission-based annuities through the exchange as well as fee-based contracts.