The wealth management technology provider Flourish has announced a significant expansion of its annuity distribution platform for registered investment advisors.
The platform, launched in early 2024, now includes registered index-linked annuities, fixed indexed annuities and variable annuities. In addition, advisors serving retirees seeking greater income security can now add guaranteed lifetime withdrawal benefits (GLWBs) to eligible annuity contracts, for a fee.
With the expansion, the annuity marketplace now includes offerings from five insurance carriers, thanks to new partnership with Equitable and Jackson National Life Insurance Co. They join existing carrier partners Aspida, Corebridge Financial and MassMutual Ascend.
“Fee-based annuities serve as an important tool to replace older commissioned annuities that are no longer fit for purpose,” said Max Lane, Flourish CEO, in a statement. “They can also add highly valued safety to financial portfolios through lifetime income, guaranteed protection and returns, or tax deferral.”
Other key features of the platform, according to Lane, are the access it gives to an insurance-licensed outsourced insurance desk and a fully digital application experience.
Currently, Flourish Annuities is integrated with four major advisor platforms: eMoney, Orion, Black Diamond and Redtail.
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