Flourish Annuities Expands Annuity Marketplace with Corebridge Financial Partnership
NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Flourish, a platform that provides innovative access to financial products that help registered investment advisors ("RIAs") improve their clients' financial outcomes, today announced its partnership with Corebridge Financial, one of the largest providers of retirement solutions and insurance products in the United States.
Through the partnership, the American Pathway Advisory multi-year guaranteed annuity (MYGA) that Corebridge launched earlier this year will be added to the Flourish Annuities platform, the first end-to-end annuities solution built explicitly for RIAs and their clients. American Pathway Advisory allows consumers to lock in growth for three, five or seven years and is designed to help RIAs maintain a consistent allocation to guaranteed rates within their client portfolios. The advisory solution brings enhanced flexibility through innovative renewal options and no withdrawal charges, which gives consumers access to their money and makes it easier for RIAs to manage assets should needs or circumstances change.
The January 2024 launch of Flourish Annuities has generated remarkable demand from over 200 RIA firms, and stands out as an operationally streamlined solution, simplified to save time and minimize complexity. Key features include the Flourish Insurance Agency, an outsourced insurance desk (OID), which eliminates the need for advisors to hold insurance licenses; a digital application process to eliminate complicated paperwork; and a vetted marketplace of fee-based annuities from multiple carriers.
"With the advent of Flourish Annuities, RIAs now have an advisor-centric platform to seamlessly add multi-year guaranteed annuities (MYGAs) to client portfolios to deliver attractive guaranteed returns, full principal protection, and tax deferred growth. The addition of Corebridge, one of the largest and most innovative carriers in the space, expands our marketplace to give RIAs more MYGA options," said Max Lane, CEO of Flourish. "Every advisor should be considering MYGAs for client portfolios and the Corebridge American Pathway Advisory offers clients liquidity and flexible terms."
"Our American Pathway Advisory MYGA offers growth and principal protection along with flexibility and convenience," said Eric Taylor, RICP®, Senior Vice President, National Sales Manager, Corebridge Financial. "We are pleased to bring our advisory solution to RIAs through the Flourish Annuities platform and look forward to connecting with more advisors who want to help their clients take action to build the future they envision."
Over 800 RIAs managing over $1.5 trillion in combined assets trust Flourish to help them bring more assets into their orbit. The Flourish platform allows advisors to feature their firm's branding, take discretion or offer as client-directed accounts, as well as providing client-friendly marketing materials, robust and customizable compliance resources, white-glove support, and more.
More information about Flourish's curated and vetted marketplace and American Pathway Advisory offered through Flourish Annuities can be found here: https://www.flourish.com/advisors/annuities.
About Flourish
Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform supports more than $5 billion in assets under custody and is used by more than 800 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.
About Corebridge Financial
Corebridge Financial, Inc. (NYSE:CRBG) makes it possible for more people to take action in their financial lives. With more than $390 billion in assets under management and administration as of June 30, 2024, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us on LinkedIn, YouTube and Instagram.
Annuities are long-term products designed for retirement. A fixed annuity is a contract between consumers and an insurance company that, in exchange for their premium (earning a fixed rate of interest), offers a stream of guaranteed income payments. Annuities are issued by American General Life Insurance Company (AGL), Houston, Texas. American Pathway Advisory Contract Numbers: ICC23-AG-810 (7/23) and AG-810 (7/23). AGL is a member company of Corebridge Financial, Inc. The underwriting risks, financial and contractual obligations, and support functions associated with the annuities issued by AGL are its responsibility. AGL does not solicit, issue or deliver policies in the state of New York. Annuities and riders may vary by state and are not available in all states.
Neither AGL nor Corebridge Financial, Inc. is affiliated with Flourish Insurance Agency LLC or any of its affiliates.
Forward Looking Statements
This press release may contain forward looking statements that are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied.
This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.
Flourish is an online platform through which investors can access financial services and products. Flourish's offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Crypto is offered by Paxos Trust Company, LLC, a New York limited purpose trust company regulated by the New York Department of Financial Services that provides custody and execution services for the Flourish Crypto accounts, and Flourish Digital Assets LLC, registered in New York as a commodity broker-dealer and provides website and other services and support for Flourish Crypto accounts. Paxos is not an affiliate of Flourish. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform. Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency. An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, a licensed insurance producer, with offices in Jersey City, New Jersey, and are issued by one or more approved licensed life insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash, Flourish Crypto, and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information.
The issuing insurance company, not any Flourish company, is solely responsible for its own financial and contractual obligations. All benefits and guarantees of the annuity contract are subject to the claims paying ability of the issuing insurance company.
Flourish Insurance Agency LLC and its Flourish affiliates, and issuing insurance companies do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Applicants and purchasers should consult your own tax, legal and accounting advisors before engaging in any transaction.
This is not a proposal or a solicitation to purchase insurance. Flourish Annuities is not available to New York residents.
Withdrawals may be subject to a market value adjustment, which can increase or decrease the value of the annuity, depending on the interest rate environment.
Marissa Arnold [email protected]
