Fidelity's Advisor Group has teamed with Fidelity Insurance Agency to provide its advisor clients with integrated access to annuity and insurance products.
The program will give advisors access to nearly 30 annuity and insurance products, including no-load deferred and income annuities and variable life insurance, from a network of nine firms, according to the company.
Integrated with Fidelity's brokerage platform, the program will allow advisors to download insurance information into their third-party portfolio management programs, consolidating the information with client investment holdings.
Advisors will also have access to insurance agents, for sales and support on all products sold through the program. The offerings will include products from Travelers, John Hancock, GE, Principal and Fidelity Investments Life Insurance Company, according to Fidelity.
Fidelity officials say the new program was a direct result of a demand among its advisor clients for a flexible insurance and annuity offering with a fee-based pricing model.
"As the needs of affluent clients evolve from accumulation to distribution and ultimately to wealth transfer, advisors will be faced with greater demand for a more diverse set of planning and specialized product solutions, including insurance and annuities," says Jay Lanigan, president of Fidelity Registered Investment Advisor Group.