Flourish has launched Flourish Annuities, fee-based products designed to make it easier for RIAs to access the insurance products for their clients, the New York City-based firm announced today.
The fee-based product eliminates commissions and simplifies the application and licensing requirements, Flourish said.
Flourish Annuities provides an out-sourced insurance desk that eliminates the need for advisors to hold insurance licenses, the firm said.
“Annuities can bring clear benefits to client portfolios. Until now, the user experience for both advisors and clients has made annuities more trouble than they are worth for independent RIAs,” Flourish CEO Max Lane said in a prepared statement.
“We’ve addressed 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,” he added.
Flourish is an independently operated subsidiary of Massachusetts Mutual Life Insurance Company.