visimoney
TLDR:
- Flourish, a fintech platform, has partnered with Aspida to offer fixed-income annuity products on its platform.
- This partnership aims to streamline the annuity process for RIAs and their clients.
Flourish, a leading fintech platform, has expanded its fee-based annuity shelf through a partnership with Aspida Life Insurance Co. The new offering, Aspida’s Advisory Multi-Year Guaranteed Annuity, provides guaranteed growth for a single premium payment without exposure to market risks. This product aims to offer low-risk income and guaranteed income over multiple durations for individuals planning their retirement. The US annuity market saw growth in 2023, with an estimated $385 billion sold. By adding fee-based annuities through this partnership, Flourish aims to address challenges that RIAs may face in offering annuities, such as conflicting compensation methods. The goal of the collaboration between Flourish and Aspida is to provide a more efficient and user-friendly experience for RIAs and their clients. Overall, this partnership highlights the trend of asset management and insurance convergence, making annuities more accessible and streamlined for financial advisors and their clients.
