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Life Health > Life Insurance

RIA Support Firm to Promote FIDx Annuity Exchange

By Allison Bell

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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 Supermarket, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on Facebook, LinkedIn and Twitter.

Allison Bell

Think_Allison

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NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.