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RIA Support Firm to Promote FIDx Annuity Exchange

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An arm of an insurance marketing organization, Financial Independence Group, will be encouraging registered investment advisors to use the FIDx insurance exchange.

Fiduciary Exchange LLC — FIDx — announced its alliance withe Financial Independence Group arm, RIA Insurance Solutions, Tuesday.

(Related: AIG Life & Retirement to Put Its Annuities on FIDx Exchange)

FIDx is a Berwyn, Pennsylvania-based organization that opened an insurance supermarket in June. FIDx has started out by offering annuities from many of the biggest U.S. annuity market players.

RIA Insurance Solutions provides sales support services for RIAs.

The size of RIA Insurance Solutions was not immediately available, but FIDx says RIA Insurance Solutions’ parent, Financial Independence Group, has relationships with about 3,000 financial professionals. The company distributes life insurance and disability insurance as well as annuities.

Envestnet Inc., a wealth management technology firm, started FIDx and owns a large stake in FIDx.

The FIDx-RIA Insurance Solutions relationship will give RIA Insurance Solutions the ability to access annuities digitally through the Envestnet  wealth management platform, FIDx says.

— Read FIDx Opens Annuity Supermarketon ThinkAdvisor.

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