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ONIMCO Launches the Envestnet Insurance Exchange for its Advisors

ONIMCO Launches the Envestnet Insurance Exchange for its Advisors

ONIMCO Advisors Benefit From Integrated Annuity Solutions on Envestnet’s Unified Advice Platform

Envestnet, Inc. has announced that O.N. Investment Management Co. (ONIMCO) launched the Envestnet Insurance Exchange, an insurance network providing access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. As part of ONIMCO’s commitment to bringing financial stability and strength to customers, implementing the Envestnet Insurance Exchange empowers its advisors to present clients with unified advice to help them grow and protect their wealth.

The Envestnet Insurance Exchange provides end-to-end management of annuity solutions, from pre- to post-issuance. ONIMCO’s advisors can seamlessly plan, research, generate proposals, open policies, manage in-force transactions, and create client reports within the Envestnet platform. ONIMCO’s home office team will also benefit from the Insurance Exchange, with licensing and appointment checks as well as integrated compliance tools that monitor in-force transactions and adherence to client investment policies.

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“We are ready to empower our client partners with access to high-quality annuity solutions found on our Insurance Exchange, and we are grateful that ONIMCO has decided to join us on our journey to help create better outcomes for clients,” said John Yackel, Head of Strategic Initiatives at Envestnet. “Incorporating protection strategies into the wealth management process is a major step forward in our work to develop a holistic platform that enables advisors to help customers meet their short- and long-term needs as they work toward achieving the ultimate goal—financial wellness.”

The Envestnet Insurance Exchange is backed by the Fiduciary Exchange, LLC (FIDx), a technology-powered network that joins the brokerage, insurance, and advisory ecosystems. Together, Envestnet and FIDx have secured a strong line-up of annuity solutions from AIG Life & Retirement, Allianz Life, Brighthouse Financial, Global Atlantic Financial Group, Jackson National Life Insurance Co., Nationwide, Prudential Financial, and Transamerica. The Envestnet Insurance Exchange supports a wide range of both commission- and fee-based annuities.

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“By integrating annuities within the Envestnet platform our advisors can help provide clients with retirement security, while streamlining our advisory lifecycle workflow via a full digital experience,” said Adam Mackintosh, Second Vice President, Investment Advisory at ONIMCO. “We’re excited about the opportunity to enhance our wealth management business by providing our advisors with efficient access to protection strategies and to a technology platform that helps balance growth and security.”

“FIDx is thrilled to see ONIMCO utilize the Envestnet Insurance Exchange as a way to offer long-term protection solutions to clients through Envestnet’s single, unified platform,” said Dan MacKinnon, Chief Executive Officer of FIDx. “With a wide selection of products and automated processes bolstered by the Envestnet Insurance Exchange, we are confident ONIMCO can focus more on advising and servicing customers during important life stages and less on time-consuming administrative tasks.”

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