Advisors at Capital Investment to Adopt VisibleChoice Platform

By Jack Grauer
TMCnet Contributing Writer

Insurance Technologies, LLC, released and successfully introduced VisibleChoice, an annuity research program for financial advisors at Capital Investment affiliated companies.

VisibleChoice will allow advisors to compare and contrast several different annuities options simultaneously so that clients can choose between them. As Bill Nicholson of Capital Investment Group explains, VisibleChoice will make it more convenient for advisors to share and explain relevant information with their clients and increase the level of transparency between these parties.

Combining a more streamlined, ergonomic interface and an enormous database of information, the new platform makes visual, side-by-side comparisons of investment options more readily available to clients.

VisibleChoice grants access to 1200 annuities products from 282 different carriers. Clients will also gain access to information regarding both up-to-date product availability and information.

Another key feature to VisibleChoice, according to Insurance & Technology, is that it complies with relevant rules set by the Financial Industry Regulatory Authority (FINRA). According to their Insurance Technologies' site, the platform provides riders to assure compliance with two upcoming FINRA regulations:

Rule 2090, the “know-your-customer” rule, requires that an appointed financial advisor know all relevant information necessary to effectively manage the client's account

Rule 2111 obligates both advisors and they firms they represent to provide their customers with the optimum investment or strategy for a financial transaction. The rule also requires that the advisor only make such a suggestion when, and if they feel competent to do so.

VisibleChoice supports exchange requests under tax code 1035. You would typically use this type of exchange when you want to upgrade from your existing annuity to another that can potentially provide you a better return. The code prevents the taxation of a client for making such an exchange. As annuity sales continue to climb, this code becomes more and more relevant to people interested in setting up retirement plans.

You can read more about the history, evolution and previous incarnations of VisibleChoice here.