Tag Archives: #Annuities

Episode 196 – The Scalable Future of Annuity Management with Rich Romano

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , ,

Rich Romano is the CEO and Co-Founder of FIDx, 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.

In this episode, Rich discusses the transformation of the annuity business through FIDx’s integrated platform, addressing barriers faced by advisors, changing attitudes towards annuities, and plans to enhance scalability and adoption.

They also discussed:

  • Rich Romano’s background and career journey, highlighting his experience in actuarial work, product development, and consulting in the insurance industry.
  • The inception of FIDx and its mission to revolutionize the annuity business.
  • The development of an insurance exchange in collaboration with Investnet to streamline processes for advisors working with multiple carriers.
  • The barriers faced by advisors in offering annuities.
  • Changing attitudes of advisors towards annuities, discussing the impact of market volatility, interest rates, and the evolution of insurance product offerings.
  • The role of education and technology in simplifying the annuity business for advisors, with a focus on the services provided by FIDx and its partners.
  • Trends to watch in 2024, particularly in the fee-based annuities sector, and the need for scalable solutions to enhance adoption.
  • FIDx’s plans for the future, including the development of an overlay marketplace that aligns with the practices of fee-based advisors, allowing for active management of assets with added insurance protection.

 

Resources: 

FIDx

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Episode 179 – Direct Indexing Demystified: Personalized Wealth Strategies with Dave Gordon

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David Gordon is the Senior Vice President of Direct Indexing at Vestmark: a wealthtech firm that provides portfolio management solutions and outsourced services to financial professionals.

In this podcast, Dave and Doug discuss how advisors can use tax management methods to attract and retain clients, ultimately helping them grow their businesses.

They also discussed:

  • Tax management’s role in client support and advisor-client retention.
  • The importance of tax efficiency for differentiating advisor services.
  • Both the challenges and benefits of separately managed accounts (SMAs) for RIAs.
  • Direct indexing: concept, advantages, and performance.
  • Personalization through direct indexing for tailored tax outcomes.
  • The scale challenges in implementing tax-efficient strategies.
  • Vestmark’s software support for tax-efficient strategies, especially for smaller RIAs.

 

Resources: 

Vestmark

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Episode 166 – Financial Vulnerability to Financial Security with Anne Aldrich

Advisorpedia, Finance, Industry Innovators, Power Your Advice, Uncategorized, , , , , , , , , ,

Anne Aldrich is the Head of Research for the Alliance for Lifetime Income, an organization creating awareness and educating Americans about the value and importance of having protected lifetime income in retirement.

In this podcast, Anne unpacks the research and studies the Alliance for Lifetime Income has been following, bringing insights into how both financial professionals and consumers can prepare and become secure in their retirement protection plans.

They also discussed:

  • The Protected Retirement Income and Planning study and what it reveals about the changing views on the security of retirement
  • The difference between the views of investors and advisors relating to retirement income protection
  • The opportunity for financial professionals to clarify the purpose and alternatives within the retirement planning process with their clients
  • Advisor’s appreciation for the role that annuities can play in their client’s portfolio
  • The 6040 portfolio and if financial professionals are open to change regarding that standard
  • The economic shocks and other factors that are creating uneasiness about people’s retirement savings lasting their lifetime
  • The “Peak 65” phenomenon of the US approaching the greatest surge of new retirees in history 
  • What the data uncovers about the preparedness of financial professionals and consumers for the retirement wave

 

Resources: 

Alliance for Lifetime Income

 

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Episode 80 – Build the Holistic Offering Your Clients Need – With Mike Watson

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Axos Advisor Services is an RIA custodian that delivers individualized attention, intuitive technology, and knowledgeable consulting support to financial advisors. In his role as the head of RIA Custody there, Mike Watson is in a unique position to observe, understand and help advisors make sense of the constant evolution of client expectations and their own business models. 

In today’s episode, Doug and Mike talk about the re-emergence of the term “holistic advisor” and how the convergence between advisory practice types is driving advisors to once again redefine their practices to differentiate themselves. They also talk about

  • What it means to be a holistic advisor in 2022
  • The value of becoming a more holistic advisor – for their clients and for their practice
  • Why younger advisors are more likely than older to adopt this model
  • What trends Axos Advisor Services is seeing as their clients work to expand their offering to banking solutions, insurance,  annuities and other solutions
  • What are some first steps advisors can take to expand their offering and build deeper relationships with clients
  • How expanding your offering is good for your clients

Resources:  Axos Advisor Services

 

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