RIA Support Firm to Promote FIDx Annuity Exchange

By Allison Bell

April 15, 2020 at 01:37 AM

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An arm of an insurance marketing organization, Financial Independence Group, will be encouraging registered investment advisors to use the FIDx insurance exchange.

Fiduciary Exchange LLC — FIDx — announced its alliance withe Financial Independence Group arm, RIA Insurance Solutions, Tuesday.

FIDx is a Berwyn, Pennsylvania-based organization that opened an insurance supermarket in June. FIDx has started out by offering annuities from many of the biggest U.S. annuity market players.

RIA Insurance Solutions provides sales support services for RIAs.

The size of RIA Insurance Solutions was not immediately available, but FIDx says RIA Insurance Solutions' parent, Financial Independence Group, has relationships with about 3,000 financial professionals. The company distributes life insurance and disability insurance as well as annuities.

Envestnet Inc., a wealth management technology firm, started FIDx and owns a large stake in FIDx.

The FIDx-RIA Insurance Solutions relationship will give RIA Insurance Solutions the ability to access annuities digitally through the Envestnet wealth management platform, FIDx says.

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