BERWYN, PA — Fiduciary Exchange LLC (FIDx) has integrated Beacon Research’s annuity rate data into its Insurance Exchange platform, a move aimed at simplifying how financial advisors research and select annuity products by bringing real-time pricing information directly into the transaction workflow.
The integration embeds fixed, indexed and registered index-linked annuity (RILA) rate data within the FIDx platform, allowing advisors to compare products, generate proposals and execute transactions without switching between multiple systems, the company said.
The move addresses a longstanding challenge in the annuity market, where advisors often rely on separate tools to gather rate information and evaluate products before completing a sale.
“Advisors no longer have to leave the workflow, hunt for rates, or guess at what’s competitive,” Rich Romano, chief executive officer of FIDx, said in a statement. “The information they need to choose the right product is right where the decision happens.”
The integration gives participating firms access to current rates, guaranteed minimum rates and bonus rates for annuity products, along with side-by-side comparison tools and filtering capabilities.
The platform also incorporates more detailed information on indexed and RILA products, including underlying indexes, cap rates, participation rates, buffer rates and effective dates.
Jeremy Alexander, chief executive officer of Beacon Annuity Solutions LLC, said the partnership expands access to the company’s data, which is currently used by more than 250,000 advisors to research and compare annuity products.
“By embedding that data directly into the Insurance Exchange, we can put Beacon at the fingertips of every advisor evaluating an annuity for a client,” Alexander said.
The integration is available to financial professionals at FIDx distribution partners that have enabled Beacon Research at the firm level.
FIDx provides technology infrastructure that supports digital annuity distribution for wealth management firms, while Beacon Research supplies annuity rate and product data used throughout the insurance and financial advisory industries.
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