SS&C Technologies Enhances Insurance Marketplace for Financial Advisors

SS&C Technologies Holdings, Inc., in partnership with DPL Financial Partners, has fortified its Black Diamond® Wealth Solutions’ Annuities & Insurance Marketplace (AIM) by integrating new service offerings and carriers.

This expansion allows fiduciary advisors to leverage services like term life insurance quoting and in-depth policy evaluations. The inclusion of insurance giants Jackson National Life Insurance Company and Protective Life Insurance Company brings the total number of participating carriers to seven. This move aims to enhance advisors' ability to craft well-rounded financial strategies for their clients.

Responding to Market Demand

The expansion of AIM reflects a growing demand from financial advisors for more robust and flexible solutions in retirement and protection planning. Jackson National Life Insurance Company and Protective Life Insurance Company, the newly onboarded carriers, bolster the marketplace's offerings with products tailored to the Registered Investment Advisor (RIA) market. These products are crafted to help advisors build strategies that include growth, income protection, and retirement planning. According to Alison Reed, Head of Distribution at Jackson National Life Distributors LLC, annuities are increasingly integral to retirement planning as financial professionals seek flexibility in their offerings.

What This Means for Financial Advisors

The platform does not just add new carriers; it also introduces valuable tools to improve service delivery for advisors. Features like the Term Quoter allow for swift quoting from financially stable carriers, while insurance policy reviews help identify coverage gaps in clients' portfolios. These enhancements, as noted by Steve Leivent, Senior Vice President and Co-Head of SS&C Wealth & Investment Technologies, streamline the process of managing insurance assets in conjunction with advisory services, thereby fostering comprehensive financial planning.

A Comprehensive Suite of Offerings

Alongside Jackson National and Protective Life, the AIM platform supports products from Allianz Life, Midland National, MassMutual Ascend, Pacific Life, and Security Benefit Life. This broad array of options not only offers advisors the flexibility to integrate protection strategies into financial planning but also provides clients with a range of solutions tailored to their specific needs.

These developments signify a key step in ensuring financial advisors can provide comprehensive, protection-focused financial planning for their clients. By continuously updating and expanding its offerings, the Annuities & Insurance Marketplace positions itself as a significant resource for advisors aiming to enhance their service capabilities in a dynamic market.