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Press Release

Aspida and Flourish Announce Partnership to Distribute Aspida Annuities

The Fintech Companies Offer a Fully Digital Experience for Advisors


March 14, 2024

Estimated reading time: 2 minutes

 

New York, Mar. 12, 2024 (BUSINESS WIRE) -- Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, and Flourish, a platform that provides innovative access to financial products that help registered investment advisors (RIAs) improve their clients’ financial outcomes, announced their partnership to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA). Flourish is offering this product through the Flourish Annuities platform, which provides RIAs and their clients with an innovative digital experience that features improved efficiencies and reduced complexities to access annuities.

The Aspida Advisory MYGA is a fixed-income solution that provides guaranteed growth free from market risk. It is a single premium deferred fixed multi-year guaranteed annuity, offering durations of two-, three-, five-, and seven-years that enables advisors to address the individual needs of their clients.

“We are excited to partner with Flourish and offer our annuities on their new digital platform, which expands access for RIAs,” said Chad Burns, Aspida’s Chief Distribution Officer. “Our Aspida Advisory MYGA supplies a secure, low-risk option to grow tax-deferred money for retirement and allows individuals to choose the timeline they prefer while ensuring direct access to their money when they need it.”

The partnership widens access to Aspida’s annuities in the RIA community and equips Flourish Annuities with a top annuity product to offer its clients. Both companies are focused on tech-forward, innovative solutions in an industry typically reliant on pen and paper, transforming the annuities landscape into a more efficient and user-friendly experience.

“The Flourish Annuities platform was created to alleviate the critical pain points that have prevented RIAs from including annuities in client portfolios. Flourish Annuities’ curated marketplace of fee-based annuities from carefully vetted carriers is a key part of bringing RIAs access to this growing asset class. We are pleased to offer the Aspida Advisory MYGA on our platform,” said Max Lane, CEO of Flourish.

More information about the Aspida Advisory MYGA offered through Flourish Annuities can be found here.

 

About Aspida

Aspida Holdings Ltd., through its subsidiaries (collectively “Aspida”), is focused on providing retirement and reinsurance solutions, having operations in the U.S., Bermuda, and Cayman Islands with total assets of $13.7 billion as of December 31, 2023. Aspida, through its U.S. platform – Aspida Life Insurance Company – is focused on leveraging technology and agility to help clients achieve – and protect – their dreams. Its Bermuda-based reinsurance platform, Aspida Life Re, is focused on providing efficient and secure life and annuity reinsurance solutions to global clients. Aspida seeks to be a trusted partner in its clients’ financial security while driving its growth by doing good for the communities it serves. Aspida is backed by Ares Management Corporation, which, through the Ares Insurance Solutions team, provides dedicated investment management, capital solutions and corporate development support. For more information, please visit aspida.com or follow on LinkedIn.

 

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 $4.5 billion in assets under custody and is used by more than 750 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is a wholly-owned, independently operating subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.

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.


Media Contact

Brian Clark Kahl for Aspida

Brian.ClarkKahl@aspida.com

Marissa Arnold

flourish@marissarnoldpr.com

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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. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product, for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2024 Flourish. All rights reserved.

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, and where applicable, the individual annuity contracts intended to be purchased by individual clients of registered investment advisors ('RIAs'). 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, with offices in Jersey City, New Jersey, a licensed insurance producer, and are issued by one or more approved licensed life insurance companies. 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. This is not a proposal or a solicitation to purchase insurance. Flourish Annuities is not available to New York residents.