Tag: Fiduciary Exchange LLC

3 Ways to Simplify the Annuities Experience

Earlier this year, annuity sales hit the highest quarterly sales mark — ever — with an increase of 22 percent to more than $77 billion. That’s nearly $9 billion more than the previous record set during 2008’s Great Recession.*

So, if sales of annuities are through the roof, why are they still so complex to sell?

We all know an annuity can be a vital tool in a retirement planning toolkit — but due to their complexity, they’ve been historically underused.

iPipeline believes that helping clients secure their financial future shouldn’t be that difficult.

As part of our dedicated commitment to helping people secure their financial futures, the iPipeline team focuses on streamlining and optimizing annuities and life insurance for wealth managers.

That’s why iPipeline and the Fiduciary Exchange LLC (FIDx) joined forces. FIDx’s technology-powered network seamlessly integrates various ecosystems to give best-in-class income and protection solutions from the industry’s leading carriers.

Together, we’re aiming to help simplify the experience of accessing and recommending annuities for clients. Our shared vision to remove the chaos and friction from the annuities experience, making it as quick and easy as managed accounts.

Here are 3 ways that iPipeline and FIDx are helping to make annuities easier to sell:

1. They’re Easier to Understand

Investing in an annuity can be a cumbersome, disjointed experience—for both you and your clients. In addition to understanding the various kinds of annuities, the wealth management workflow is complex. By simplifying the process, we put all the information needed at a user’s fingertips. Our partnership consolidates all the necessary requirements needed—including those from insurance carriers and distribution partners.

2. A Full Suite of Annuities on a Single Digital Platform

As a provider with complementary offerings to ours, FIDx offers a full-suite of commission and commission-free annuities from leading insurance carriers through its end-to-end digital marketplace.

This strategic alliance allows us to streamline annuities as much as possible, enabling them to be treated much like managed accounts. This creates a unified digital experience connecting financial professionals, home offices, end clients, and insurance carriers. This single-platform connectivity enables seamless management of annuities alongside managed accounts and other client assets, all while growing at scale.

3. Log Onto One System—Not Seven

The wealth management workflow for annuities involves many different steps, using countless different systems to complete research, generate proposals, draft an account opening, and run a report. In some cases, the workflow involves up to seven different technology solutions before even coming to order entry.

With iPipeline and FIDx, a user will no longer be required to log into multiple systems to complete workflows for annuities. All phases—planning, research, proposals, account opening, management, and reporting—will be completed within one unified ecosystem. Annuities will be displayed alongside all other assets in a holistic view of a client’s entire portfolio.

iPipeline and FIDx want to help financial professionals accelerate their businesses through a streamlined annuity experience. Our next goal: to make life insurance easier to sell, too. 

To find out more about our complementary solutions, and how you can benefit from these collaborative capabilities, contact us!

*Source: LIMRA.com

iPipeline Partners with FIDx to Provide AFFIRM Order Entry Capabilities to Users of Insurance Exchange (Ix)

EXTON, PA – September 25, 2019 – iPipeline®, a leading provider of cloud-based software solutions for the life insurance and financial services industry, today announced a partnership with Fiduciary Exchange, LLC (FIDx) that integrates AFFIRM for Annuities order entry product with e-Signature onto their platform. Used by the nation’s top financial institutions, AFFIRM for Annuities supports customized workflows to help address compliance and suitability concerns.

“iPipeline is pleased to announce our new partnership with FIDx and the integration of AFFIRM for Annuities with e-Signature into the Insurance Exchange. Our partnership with FIDx will simplify workflows, streamline suitability reviews, and accelerate the overall order entry process for advisors,” said Larry Berran, CEO, iPipeline. “iPipeline’s next-generation products are designed to optimize advisor sales performance and enhance the consumer experience. We are dedicated to the success of our new partnership and look forward to extending it to include our AFFIRM for Life product to support insurance sales.”

AFFIRM for Annuities is a compliance and order management system designed to integrate a carrier’s complex product rules with a distributor’s compliance processing requirements (customized workflows and suitability reviews) to generate transactions that are “in good order.” The partnership with FIDx will ensure annuity applications are electronically submitted to carriers for processing after successfully passing all supervisory reviews, providing advisors with streamlined order entry.

“The addition of iPipeline’s AFFIRM for Annuities to our FIDx platform provides advisors accessing the Insurance Exchange with an automated order entry tool to help address compliance concerns,” said Richard Romano, CTO, FIDx. “We are committed to continually expanding our platform offerings, integrating top insurance carriers, and offering technology innovators, like iPipeline. We strive to ensure advisors have access to annuity products that help solve for their clients’ needs for guaranteed income and provide a consolidated set of tools to meet their individual needs. Digital transformation and a seamless advisory experience are a key focus for FIDx, and iPipeline’s AFFIRM for Annuities product offers the necessary capabilities to support this important initiative.”

FIDx officially launched the Insurance Exchange (Ix) in June 2019, to fill a much-needed gap in the annuity and financial services space. As a product-agnostic exchange, the company acts as the middleman, seamlessly connecting advisors to leading insurance carriers and annuity products. Founded by notable industry problem solvers, FIDx puts annuity sales on par with mutual funds, exchange-traded funds, and separately managed accounts. FIDx is also the first annuity products platform provider supporting Envestnet’s Insurance Exchange.

For assistance in reimagining how your organization does business and achieving a competitive advantage, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About Fiduciary Exchange, LLC (FIDx)
Fiduciary Exchange, LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems to offer best-in-class annuities and insurance solutions from the industry’s leading carriers. Motivated by its mission to expand the frontiers of the wealth management space and provide holistic solutions to address investors’ changing needs, FIDx enables advisors to offer guaranteed income and downside protection as core components of their clients’ portfolios—integrated within the same wealth management platforms they already use every day. An independent technology firm led by seasoned industry veterans and built from the ground up as an integrated platform, FIDx is providing a modern solution to bridge advisory firms to insurance carriers so advisors can truly deliver comprehensive advice, enabling their clients to achieve retirement security. For more information on FIDx, visit www.fid-x.com.

About iPipeline

iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

iPipeline’s platform is used by approximately 150 carriers, 1,400 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.


For iPipeline:

Lisa Shea
484 870 6234

For FIDx:
FiComm Partners
Jessica Torchia