TFS Securities Deploys Envestnet Insurance Exchange & Strategist UMAs for its Advisors

CHICAGO, Sept. 22, 2020 // — Envestnet, Inc. (NYSE: ENV) announces that TFS Securities, Inc., through its TFS Advisory Services arm, has launched the Envestnet Insurance Exchange, an insurance network delivering access to reputable insurance carriers and their annuity products alongside traditional managed account investments on the Envestnet platform. The Envestnet Insurance Exchange allows TFS advisors to incorporate annuity solutions into client portfolios as a source of guaranteed income.

In addition, TFS is providing its advisors with access to the Strategist UMA program, offering a suite of unified managed account portfolios from six top asset managers on the Envestnet platform. The Strategist UMA portfolios, launched by Envestnet | PMC earlier this year, can meet clients’ different levels of risk tolerance, and are wrapped in PMC’s exclusive portfolio-overlay technology for incorporating tax management and impact investing. PMC, Envestnet’s Portfolio Management Consultants group, partnered with BlackRock, Clark Capital, Legg Mason, PIMCO, and Russell Investments to create 86 multi-asset portfolios combining individual stocks, individual bonds, mutual funds, and exchange-traded funds (ETFs). TFS advisors can answer a series of questions in the Envestnet platform’s Digital Portfolio Consultant to identify a Strategist UMA portfolio that best suits each client’s needs and goals.

“Our Strategist UMA portfolios offer advisors the opportunity to diversify client portfolios with strategies from some of the top asset managers, while also easily applying values-based investing and tax-smart elements,” said Brandon Thomas, Chief Investment Officer of Envestnet | PMC. “Simplified access to these solutions through our platform brings TFS advisors a wider selection of resources to harness in order to help make financial wellness a reality for their clients.”

Powered by FIDx, the first product-agnostic platform to seamlessly integrate the benefits of insurance alongside investment products, the Envestnet Insurance Exchange provides end-to-end management of annuity solutions, from pre- to post-issuance. Advisors with TFS can plan, research, generate proposals, manage in-force transactions, and create client reports within the Envestnet wealth management platform. The TFS home office team can also utilize the Envestnet Insurance Exchange’s licensing and appointment check tools, as well as integrated applications that help monitor in-force transactions and adherence to client investment policies. In addition, insurance-licensed registered representatives and investment advisory representatives with TFS can open policies through the Envestnet Insurance Exchange.

“The market downturn and extreme uncertainty driven by the COVID-19 pandemic require advisors to reevaluate investment options for clients saving for, approaching, and in retirement—and annuities are definitely worth a second look in the present environment,” said John Yackel, Head of Strategic Initiatives for Envestnet. “We believe that providing access to annuity solutions that are fully integrated with more traditional investments is key for helping advisors guide clients through this crisis.”

Together, Envestnet and FIDx have secured a robust lineup 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. A broad variety of commission- and fee-based annuities are supported by the Envestnet Insurance Exchange.

“Through our partnership with TFS, we are empowering their advisors to access guaranteed income solutions in a digital experience during this time,” said Rich Romano, Chief Executive Officer of FIDx. “The annuity solutions on the Envestnet Insurance Exchange can be managed from end to end, and integrated with other client investments, in a single platform for advisors as part of their mission to help clients achieve their long-term financial goals and optimize investment outcomes.”

Lincroft, New Jersey-based TFS Securities, Inc. is home to nearly 200 independent financial advisors and is a division of Tomorrow’s Financial Services, Inc. The firm was established in 1968 and provides a full range of financial products and services to enable clients to achieve the goals set out in their financial plans.

“We believe comprehensive information and guidance are the necessary components for making sound financial decisions,” said Thomas P. Hyland, President of The TFS Family of Companies. “The Envestnet Insurance Exchange and Strategist UMA program will provide our advisors with access to high-quality annuity products and managed portfolios that can help clients effectively navigate present market conditions as part of a truly holistic plan.”


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