Fintech Flourish has rolled out a platform that will make it easier for registered investment advisors to provide fee-based annuities for their clients.
Interest in annuities has been increasing. Limra estimated last month that annuity sales hit a record high of $350 billion in 2023, up from the record $313 billion seen in 2022.
But providing annuities to clients can be tricky for RIAs, in part because the methods of compensation for annuity sales may not fit with a fiduciary approach.
Flourish says its platform, Flourish Annuities, will address not only compensation, but other issues RIAs face with annuities, such as lengthy applications and requirements related to insurance licenses.
It cites its digital application process, along with a marketplace of fee-based annuities from various carriers and an insurance desk that eliminates the need for advisors to have insurance licenses.
“Until now, the user experience for both advisors and clients has made annuities more trouble than they’re worth for independent RIAs,” Max Lane, CEO of Flourish, said in a statement. “We’ve confronted these challenges head-on to deliver easy-to-use, compliant access to the world of annuities for advisors looking for better, more differentiated portfolio options.”
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
