Fintech firm LifeYield has expanded its partnership with Allianz Life Insurance Co. of North America to offer a new retirement solution for advisors and other financial professionals.
LifeYield’s Social Security Advantage solution, which helps identify the appropriate times for an individual or couple to file for Social Security benefits, will support Allianz Life annuities within Income Layers, providing a dynamic view of a client’s retirement income sources set against their income needs, the companies said in a joint announcement.
Financial professionals who do business with Allianz Life will be able to show how an annuity can help supplement clients’ retirement strategies by adding a source of guaranteed retirement income in conjunction with other income sources as a part of designing an overall retirement income strategy, they said.
“Added support for Allianz Life products within Income Layers gives financial professionals greater transparency into the dollars-and-cents impact of annuities on a client’s retirement portfolio,” they said. “Armed with this information, advisors and investors can work together to find ideal solutions to meet their individual retirement needs.”
Broadridge Launches ESG Service
Broadridge Financial Solutions teamed with Third Economy, a specialist in sustainable investment research and advisory services, to introduce ESG Advisory Services. Third Economy was founded in 2018 by Chad Spitler, a former BlackRock executive.
The new service leverages proprietary data and “will help corporate issuers and asset managers improve sustainability strategies while effectively positioning their” environmental, social and governance programs with stakeholders, the companies said.
The service combines Broadridge’s data, technology and communications expertise and Third Economy’s proprietary methodology for systematically evaluating sustainable investment efforts of companies, “enabling clients to move from strategy through execution to communication,” the companies said.
InvestCloud Completes Recapitalization
InvestCloud completed a recapitalization that values the fintech firm at $1 billion, with new investors led by Motive Partners with Clearlake Capital Group and including other InvestCloud client shareholders.
As part of the agreement’s terms, Motive will also contribute two portfolio businesses — Finantix and Tegra118 — to InvestCloud, creating a global Software-as-a-Service (SaaS) wealth solutions platform, InvestCloud and Motive said in a joint announcement.
InvestCloud will now have more than $4 trillion of assets on its platform and revenues over $285 million, with a team of over 900 people and a “truly global footprint, by adding locations and expert knowledge of continental European and Asian markets,” the firms said.
InvestCloud plans to now organize its business to serve clients via “four distinct market opportunities for its unique and proven platform capability within the wealth and asset management arenas,” it said.