Equitable Expands Availability of its Flagship Annuity Offering to Meet Financial Professionals' Needs
Brings track record of innovation in income benefits and distribution to RIA market Expands reach with FIDx-Powered Envestnet Insurance Exchange
November 10, 2021
NEW YORK – November 11, 2021 – Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced the continued expansion of its variable and index-linked annuity product distribution in order to meet financial professionals where and how they prefer to do business.
Equitable has expanded distribution of fee-based versions of its variable and index-linked annuity products through various technology-enabled platforms, most recently joining FIDx-powered Envestnet Insurance Exchange, which enables advisors to integrate insurance offerings alongside managed investments on a single platform.
“The need for tax deferral and some downside market protection in client portfolios is clear as we emerge from the pandemic,” said Steve Scanlon, Head of Individual Retirement, Equitable. “Positioning clients to face their future with confidence is paramount. We’ve built on our heritage of innovation to provide the solutions to do just that and are committed to making those solutions available to more financial professionals, and their clients, in the ways that work best for them.”
Equitable offers its Structured Capital Strategies registered index-linked variable annuity in a fee-based format, making it possible for advisors working with Registered Investment Advisors (RIAs) to offer the product to their clients. Equitable’s commitment to RIAs is built on a long legacy of innovation in income protection products and retirement markets and distribution, including through its approximately 4,500 affiliated Equitable Advisors financial professionals; third-party financial professionals affiliated with wirehouses, broker-dealers and banks; and as one of the first life insurance and annuity providers to work with property and casualty insurance agents. RIAs and fee-only financial planners looking for financial protection offerings are a natural extension of this broad focus on distribution.
Equitable was among the first companies, in 1970, to enter the individual variable annuity market, the first company to provide variable annuities with living benefits in 1996, and the first company to bring to market a registered index-linked variable annuity product in 2010.
The company is continually enhancing its variable and index-linked annuity products to meet evolving client needs. The company recently added eight new options to Structured Capital Strategies® PLUS (SCS PLUS) that provide clients with additional ways to capture some upside potential even when equity market benchmarks may decline.
“Advisors are increasingly relying on technology in order to help identify and access the right income protection solutions for their clients,” said Andrew Stavaridis, Chief Relationship Officer, Envestnet. “Adding an innovative annuity from Equitable to the suite of solutions on the Envestnet Insurance Exchange will give advisors and their clients access to a greater variety of high-quality options to help them create diversified portfolios that align with their financial wellness goals.”
Fiduciary Exchange LLC (FIDx) is a technology-empowered network that seamlessly integrates the brokerage, insurance and advisory ecosystems to offer annuities and insurance solutions from the industry's leading carriers. FIDx enables advisors to offer the guaranteed income and partial downside protection features of a buffer variable annuity 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 their clients reach their goals.
Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). Envestnet is transforming the way financial advice and wellness are delivered. The company’s mission is to empower advisors and financial service providers with innovative technology, solutions and intelligence to make financial wellness a reality for everyone. Nearly 108,000 advisors and more than 6,000 companies including 17 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of fintech companies, leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors and their clients.
Equitable has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves 2.8 million clients across the country. Please visit equitable.com for more information. “Equitable” as used in this press release refers specifically and exclusively to Equitable Financial Life Insurance Company (Equitable Financial).
Structured Capital Strategies® (and Structured Capital Strategies® PLUS) is a variable and index-linked deferred annuity contract and a long-term financial product designed for retirement purposes. Simply stated, an annuity is a contract between you and an insurance company that lets you pursue the accumulation of assets. You may then take payments or a lump-sum amount at a later date. There are fees and charges associated with Structured Capital Strategies® (and Structured Capital Strategies® PLUS). All guarantees provided within the annuity are subject to the claims paying ability of Equitable Financial Life Insurance Company. There is a risk of a substantial loss of principal and previously credited interest because the contract holder agrees to absorb all losses to the extent they exceed the partial downside protection provided.
Variable annuities are sold by prospectus only, which contains more complete information about the policy, including risks, charges, expenses and investment objectives. You should review the prospectus carefully before purchasing a policy. Contact your financial professional for a copy of the current prospectus.
An annuity contract that is purchased to fund an IRA should be considered for the annuity’s features and benefits other than tax deferral. For such cases, tax deferral is not an additional benefit for the annuity. Certain types of contracts and features may not be available in all jurisdictions. Equitable Financial has sole legal responsibility to pay amounts it owes under the contract. Variable annuities are subject to market risk, including loss of principal. Structured Capital Strategies PLUS® is a registered service mark of Equitable Financial Life Insurance Company, NY, NY 10104. Structured Capital Strategies PLUS® (June 2021 version) is issued by Equitable Financial Life Insurance Company, NY, NY 10104. Co-distributed by affiliates Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI & TN) and Equitable Distributors, LLC. The obligations of Equitable Financial Life Insurance Company are backed solely by its own claims-paying ability.
Equitable is also the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc. The retirement and protection subsidiaries of Equitable Holdings, Inc. include Equitable Financial Life Insurance Company (NY, NY), Equitable Financial Life Insurance Company of America, an AZ stock company with main administrative headquarters in Jersey City, NJ, and Equitable Distributors, LLC. Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI and TN).
Equitable Financial Life Insurance Company (and its affiliates) and Envestnet are separate and unaffiliated firms and are not responsible for each other’s services or policies. This release should not be construed as a recommendation or endorsement of any particular product, service, or firm.
Envestnet, Inc. has a financial interest and occupies board of director positions in Fiduciary Exchange LLC (FIDx).