Digital Digest: The Latest Tech News – Envestnet, Ladder

Editorial Staff January 25, 2024

Digital Digest: The Latest Tech News – Envestnet, Ladder

The latest technology news in the wealth management sector from around the world.

Ladder, Envestnet
Ladder, a Palo Alto, California-headquartered insurance technology business for the life insurance industry, is integrating with Envestnet | MoneyGuide, the financial planning software house.

The integration was unveiled at the T3 Technology Conference, held in Las Vegas. (Family Wealth Report’s US correspondent, Charles Paikert, has been covering proceedings.)

The tie-up will give more financial advisors the capabilities for providing clients with term life insurance issued by reputable insurers, the parties said in a statement. Ladder offers term life insurance for coverage between $100,000 and $8 million, for terms ranging from 10 to 30 years. There are no medical examinations required for coverage up to $3 million.

The MoneyGuide's Advanced Lifetime Protection tool illustrates how a client's protection needs can change over time. This tool may help advisors identify an opportunity to improve a client's probability of successfully achieving the goals in their financial plan.  

Envestnet said the arrangement comes at a time when there is still a gap between what people are doing and what they need to undertake in order to plan for retirement and other long-term spending.

"Envestnet's generational research shows that a surprising 50 per cent of Baby Boomers are not formally organizing their long-term finances," Rose Palazzo, group president of Envestnet Financial Planning, said. "Ladder provides our advisors with digital access to term life insurance products, with an integration built right into our protection planning solution."

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