TruChoice Diversifies Selection of Insurance Carriers Offering Guaranteed Income & Protection Strategies
Envestnet, announces that TruChoice Financial Group, LLC (TruChoice), a provider of insurance solutions for a network of investment advisors, registered representatives, and insurance professionals, has 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.
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The implementation stems from a strategic partnership between TruChoice and Fiduciary Exchange LLC (FIDx), the product-agnostic technology platform that powers the Envestnet Insurance Exchange. The Envestnet Insurance Exchange connects the brokerage, insurance, and advisory ecosystems, and provides management of annuity solutions from pre- to post-issuance. Investment advisors and registered representatives utilizing TruChoice can seamlessly plan, research, generate proposals, open policies, manage in-force transactions, and create client reports within the Envestnet platform.
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“For more than 30 years, financial professionals have been relying upon TruChoice’s founding firms for research and guidance in providing guaranteed retirement insurance products,” said Rich Romano, Chief Executive Officer of FIDx. “They demonstrate a deep understanding of the systemic risks facing individual investors, and as such, have responded with the necessary tools and solutions for financial professionals to serve clients who need protection strategies.”
Minneapolis-based TruChoice was established in early 2018 as an umbrella for its four founding firms—American Financial, Ann Arbor Annuity Exchange, GamePlan Financial Marketing, and The Annuity Store. These four organizations have collectively wholesaled fixed-income annuities, life insurance, and long-term care insurance for more than 110 years. In 2018, they empowered financial professionals to close over $2.85 billion in sales of fixed-income annuities, and $25 million in life insurance business.
