Product Partnerships – 3/19/24

Aspida and Flourish Partner to Distribute Aspida Annuities

Aspida Life Insurance Co., a life insurance and annuity company, and Flourish, a platform providing financial products for registered investment advisers, are partnering to distribute the Aspida Advisory Multi-Year Guaranteed Annuity.

The Aspida Advisory MYGA is a fixed-income solution that provides guaranteed growth free from market risk. It is a single-premium, deferred, fixed, multi-year, guaranteed annuity, offering durations of two, three, five and seven years.

Flourish Technologies LLC is offering the product through the Flourish Annuities platform, which provides RIAs and their clients improved efficiencies and reduced complexities to access annuities.

“We are excited to partner with Flourish and offer our annuities on their new digital platform, which expands access for RIAs,” Chad Burns, Aspida’s chief distribution officer, said in a statement. “Our Aspida Advisory MYGA supplies a secure, low-risk option to grow tax-deferred money for retirement and allows individuals to choose the timeline they prefer while ensuring direct access to their money when they need it.”

Capitalize to Power Rollovers for Ellevest Clients 

Capitalize, a platform that locates and transfers retirement accounts, is partnering with Ellevest Inc., an investing and wealth management company built for women. Ellevest will embed Capitalize Money Inc.’s Enterprise Rollover solution to help clients find and consolidate their legacy 401(k) accounts into their Ellevest IRAs.

“Women retire with two-thirds as much money as men do but live six to eight years longer,” said Natasha Anand, Ellevest’s vice president of client operations, in a statement. “We’re happy to partner with Capitalize to provide a solution that works to close the gender investing gap.”

Capitalize introduced its Enterprise Rollover solution in 2021 as an extension of its consumer rollover platform launched in 2020.

“We know that retirement savings represent one of the largest sources of individual wealth but are often left behind in legacy 401(k)s and difficult to transfer because of the archaic rollover process,” said Gaurav Sharma, CEO of Capitalize, in a statement. “Together we’re going to make sure that clients using Ellevest are able to take full control of their retirement assets.”

Orion, CAIS Expand Alternatives Access for Advisers

Orion Advisor Solutions LLC, a provider of technology solutions for fiduciary advisers, has selected CAIS, an alternative investment platform for independent financial advisers, to provide Orion’s wealth advisory and OCIO clients with alternative investment funds and products.

“CAIS is aligned with Orion’s commitment to support the independent adviser community, given their industry-leading technology, broad selection of funds, robust online educational platform, deep technology integrations and independent due diligence relationship with Mercer,” said Orion CEO Natalie Wolfsen, who moved to the company in October 2023, in a statement.

The collaboration between CAIS and Orion will provide access to private equity, private debt, private real estate and hedge funds to Orion’s wealth advisory and OCIO clients. Orion plans to expand access to its portfolio solutions and advisor technology clients soon.

In addition to alternative funds and products, Orion’s advisers will be able to access streamlined workflows across the pre-trade, trade and post-trade experience, including end-to-end digitized transaction processing and integrations with U.S. custodians.

IFG Expands Partnership With Envestnet

Independent Financial Group LLC, a San Diego-based independent broker/dealer, has strengthened its ongoing partnership with Envestnet. IFG’s more than 600 independent financial professionals will receive increased access to Envestnet’s ecosystem of wealth management solutions.

IFG also recently implemented the Envestnet Credit Exchange, powered by Advisor Credit Exchange LLC, an independent technology firm, into its network. IFG’s affiliated professionals now have access to banking and lending solution providers.

“It is vital for our business, and those of the independent financial professionals we serve, that the advisers in our network can help clients manage both sides of their balance sheet with cash and credit management solutions from the Envestnet Credit Exchange—especially now, when banks are tightening up access to credit,” said Chad Cristo, IFG’s senior vice president for national sales, wealth management and marketing, in a statement.

Since 2020, IFG has partnered with Envestnet to provide solutions, including Envestnet’s wealth management platform, PMC investment solutions—including tax overlay—and financial planning services through MoneyGuide.