BERWYN, Pa., Oct. 20, 2021 /PRNewswire/ -- Fiduciary Exchange LLC (FIDx) announces it has joined forces with Lombard International to provide access to Lombard International's private placement variable annuity solutions for more than 100,000 financial advisors on the proprietary FIDx platform.
"Lombard International is one of the largest private placement insurance providers in the U.S. and around the world. It has a 30-year track record of working with advisors that serve high-net-worth clients, making it an ideal strategic partner as we continue expanding the suite of sophisticated annuity solutions available through our ecosystem," said Rich Romano, Chief Executive Officer at FIDx. "Lombard International's private placement variable annuity can give advisors the opportunity to help clients wishing to create customized, tax-deferred annuity portfolios with a broader selection of traditional and alternative asset classes that they would not normally be able to obtain through an insurance carrier. We are proud to provide an end-to-end digitized process for advisors that simplifies the management of this powerful legacy planning solution for their clients."
In addition to wealth accumulation, private placement variable annuities (PPVA) allow high-net-worth families to earmark a portion of their assets for multi-generational planning and charitable giving.
"At Lombard International, our aim is to always strive to find solutions that support high-net-worth individuals and their families to protect, preserve, and pass on their wealth for future generations. We are therefore excited to partner with FIDx to improve the distribution of private placement variable annuities to financial advisors and meet the growing demand for PPVA from their end clients," said Michael Gordon, Chief Executive Officer, U.S. and Group Chief Operating Officer at Lombard International Group.
FIDx's platform enables distribution entities to provide protection and income solutions through direct integration with a range of insurance carrier partners. The platform also offers features to help advisors actively manage annuities for clients planning for, and navigating, retirement. These tools include an annuity dashboard with insights on upcoming events, opportunities, and daily valuations. In addition, FIDx's direct integrations with insurance carriers allow advisors to seamlessly research and compare annuities using up-to-date information and fully electronic application processing workflows, including suitability packet, eSignature, and home office review queue.
Fiduciary Exchange LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance, and advisory ecosystems for best-in-class annuities and insurance solutions from the industry's leading carriers. FIDx enables advisors to offer guaranteed income and downside protection as core components of their clients' portfolios, integrated within the same wealth management platforms they already use every day. An independent technology firm, FIDx connects advisory firms to insurance carriers through a seamless, digitally-enabled process so advisors can truly deliver comprehensive advice and help clients reach their goals.
FIDx does not provide any advice or make any recommendations with respect to any insurance or other financial products and does not solicit, offer or sell any insurance or other financial products.
About Lombard International Group
Lombard International Group (the "Group") is a leading provider of global wealth and succession planning solutions with 30 years' experience. Lombard International has the strength and expertise to help high net worth and ultra-high net worth individuals, their families and institutions protect, preserve and pass on their legacy to future generations.
The Group serves over 20 markets across Asia, Europe, Latin America, and the United States, providing multi-jurisdictional private-placement / unit-linked life insurance and annuities on a global basis, with a deep understanding of local regulations, cultures and attitudes.
Group assets under administration are $65.1 billion as of 30 June 2021. The Group's global team of over 500 people includes more than 60 technical experts and over 100 client services professionals delivering an excellent level of service across multiple jurisdictions.
Funds managed by Blackstone Inc. own Lombard International Group. Blackstone Inc. is one of the world's leading investment firms with $684 billion in assets under management as of 30 June 2021.
For further information about Lombard International Group visit: www.lombardinternational.com.
JConnelly for FIDx
Peregrine Communications for Lombard International
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SOURCE Fiduciary Exchange, LLC (FIDx)