CHICAGO—July 21, 2020—Envestnet, Inc. (NYSE: ENV) announces that Hornor, Townsend & Kent, LLC (HTK), a broker-dealer and registered investment adviser (RIA), has launched the Envestnet Insurance Exchange, a platform delivering access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. As part of the firm’s continued focus on expanding and enhancing its investment advisory services and solutions, HTK is among the broker-dealers at the forefront of partnering with Envestnet on its recently launched Envestnet Insurance Exchange platform.
The Envestnet Insurance Exchange enables HTK financial professionals registered as investment adviser representatives (IARs) to now incorporate annuity solutions as part of their investment advisory (fee-based) business on the HTK Advisory Series powered by Envestnet. The IAR must be insurance-licensed and appointed with the carrier, and take all applicable product trainings as required.
“We immediately recognized the advantages of bringing the Envestnet Insurance Exchange to HTK. Many HTK financial professionals recommend annuity products for their clients to support their financial goals and objectives, and HTK has experienced an increase in activity in its investment advisory business over the past few years,” said Dusten Long, Managing Director of Adviser Support and Product Management at HTK. “We are proud to be an early adopter of this innovative platform and see it as the future of the annuity business.”
With a variety of annuity products now available on the Envestnet platform that many HTK financial professionals are already using, HTK financial professionals can benefit from time savings and a more efficient workflow to support their clients. They can plan, research, generate proposals, open policies, manage in-force transactions, and create client reports within the Envestnet Insurance Exchange. The HTK home office can benefit from leveraging the Envestnet Insurance Exchange’s licensing and appointment check tools, as well as integrated compliance applications that monitor in-force transactions and adherence to client investment policies.
“We know that protection is critical to clients, especially right now, and through this partnership, HTK financial professionals are empowered to meet those needs through a single, integrated platform experience,” said Rich Romano, Chief Executive Officer of FIDx. “In support of a holistic planning approach, HTK financial professionals are now able to offer another way to help clients achieve their long-term financial goals.”
The Envestnet Insurance Exchange, powered by FIDx, provides end-to-end management of annuity solutions, from pre- to post-issuance. FIDx is a technology-powered network that joins the brokerage, insurance, and advisory ecosystems. The Envestnet Insurance Exchange supports a wide range of both commission- and fee-based annuities across both variable and fixed product sets.
For clients, annuity solutions can be integrated into their portfolios as a source of guaranteed income.
“As clients are feeling uncertain about the economy, they are seeking ways to protect the assets they have worked hard for. In certain circumstances, annuities can provide that peace of mind,” said John Yackel, Head of Strategic Initiatives for Envestnet. “Firms like HTK are giving their financial professionals the tools to integrate protection—in a seamless and digital process—right alongside traditional investments to help guide clients toward financial wellness.”
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across more than 4,900 companies including 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies, leverage the Envestnet platform to grow their businesses and client relationships.
HTK is a broker-dealer and registered investment adviser supporting independent financial professionals across the U.S. For more than 50 years, HTK has been the trusted partner supporting financial professionals on their path to success. HTK is committed to offering its financial professionals the independence to build their practice their way through the delivery of a flexible platform, leading solutions and personalized service. Hornor, Townsend & Kent, LLC (HTK) is a wholly-owned subsidiary of The Penn Mutual Life Insurance Company. Member FINRA/SIPC. Visit www.htk.com.
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. 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, FIDx connects advisory firms to insurance carriers through a seamless, digitally-enabled process so advisors can truly deliver comprehensive advice and help their clients reach their goals.
Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange LLC (FIDx). This press release does not constitute an endorsement of any particular firm or individual.
JConnelly for Envestnet