IX PNCI FAQ

[{"content":[{"description":"INSURANCE EXCHANGE is a digital platform enabling advisors to access annuity products from multiple carriers. It integrates with tools like Envestnet, iRetire, and MoneyGuide Pro.   ","title":"What is INSURANCE EXCHANGE, and how does it work? "},{"description":"Advisors can access a broad range of products, achieve greater efficiency, streamline processes, get comprehensive product info, and ensure regulatory compliance.","title":"What are the benefits of using INSURANCE EXCHANGE for advisors?"},{"description":"It provides a wider product range, streamlines processes, and offers detailed product information for informed recommendations.","title":"How does INSURANCE EXCHANGE help Advisors serve their clients?"},{"description":"Advisors can manage product information, initiate annuity transactions, and track client data, all within an integrated wealth management platform.","title":"How does INSURANCE EXCHANGE assist in managing clients' annuities and insurance policies?"},{"description":"For Advisors: We implement robust guardrails for every proposal according to the carrier-defined business regulations, avoiding typical pitfalls in the application process and automatically filling in the application using this data.\n \nFor the Home Office: We streamline the processes of documentation, review, approval, and contract issuance, keeping them updated at each stage via our reporting features.\n \nFor Everyone: We ensure a consistent user experience across all carriers, reducing the reputational risk for advisors who regularly face NIGOs with specific carriers.","title":"How does INSURANCE EXCHANGE maintain such low NIGO rates? "},{"description":"Fees are equivalent to the Capital Directions managed account: upfront for the initial year, followed by a quarterly rate thereafter.","title":"What is the fee standard for INSURANCE EXCHANGE? "},{"description":"While having a digital AOE is crucial, it only represents a segment of the digital annuity journey.\n \nINSURANCE EXCHANGE enhances and strengthens this journey through advanced features like pre-filing and the No-NIGO engine, company guidelines, L&A checks, and more.\n \nA solitary AOE cannot safeguard the franchise, meaning it lacks compliance tools, management utilities, dashboards, and insights into the business.","title":"I already utilize a digital Account Order Entry (AOE) system, so why would I need INSURANCE EXCHANGE? "}],"nav_icon":{"icon_field":{"icon_set":"fontawesome-5.14.0","name":"Lightbulb","type":"REGULAR","unicode":"f0eb"},"image":{"height":40,"loading":"lazy","max_height":512,"max_width":512,"size_type":"exact","src":"https://24189298.fs1.hubspotusercontent-na1.net/hubfs/24189298/shipping-icon.webp","width":40}},"tab_title":"General Info"},{"content":[{"description":"Capital Directions","title":"What PNC program allows for fee-based annuities?"},{"description":"Advisors must begin in Wealthscape (Fidelity) or Edge to SSO into INSURANCE EXCHANGE and initiate a Next Gen proposal to purchase a fee-based annuity.","title":"What is the annuity proposal workflow for PNCI Advisors? "},{"description":"No, annuity proposals must be run through the NextGen Proposal workflow. Advisors will not be able to launch AnnuityNet, and no annuity ticket within AnnuityNet will be created if the Legacy proposal workflow is used.","title":"Can I use the Legacy Proposal flow to initiate annuity proposals? "},{"description":"If you want to open a new brokerage account that will be a Capital Directions Managed Account and use it with a fee-based annuity, Advisors must start in Edge. Use the \"Capital Directions Annuities\" product option under Capital Direction in Edge, which will create a shell proposal for you where you can add in the fee-baed annuity and Capital Directions managed account.","title":"How do I open an integrated managed account with a fee based annuity? "},{"description":"No, even if a client has an existing managed Capital Directions account, annuities cannot be purchased through a Strategy Modification into that existing account. A new Next Generation Proposal must be started for any annuity purchase.","title":"Can I add an annuity to an existing Capital Directions client using a Strategy Modification? "},{"description":"If the advisor has already selected an annuity product, from the Account Strategy page, they may click the ‘Add New Solution’ button to add a Capital Directions managed account to the proposal. Note that a separate Capital Directions brokerage account must already be set up to complete this step.","title":"Where can I add a Capital Directions Managed Account to my annuity proposal?"},{"description":"This data is pulled from Wealthscape and from the Envestnet proposal. This minimizes the amount of client and product information data that the advisor has to type into the system. All client data, except beneficiary details, will be pre-populated into the annuity proposal and roughly 60-80% of this combined data pre-fills in various locations throughout the annuity workflow.","title":"How is the client and product data populated into the annuity proposal? "},{"description":"Date of birth, gender, and state","title":"What client data fields are required to create an annuity proposal?"},{"description":"The account type linked with the brokerage account number (BAN) must match what is selected on INSURANCE EXCHANGE UI. A mismatch can cause problems in AnnuityNet.\n \n ","title":"Are there special considerations re: ownership type? "},{"description":"To purchase an additional annuity policy, you will need to create a new proposal. Although multiple annuities cannot be proposed together, an advisor can link multiple fee-based annuities to one brokerage account by processing individual proposals. The annuity policies must be fee-based, and the new policy should match any existing policy with respect to risk tolerance, fee schedule, and annuity billing account. If any of these variables differ, a separate PNCI brokerage account would be necessary.","title":"How can a client purchase an additional fee-based annuity? "},{"description":"Ensure that both proper owners are shown in the annuity proposal by looking up the client name. Go to the client record and click on ‘General’ to view the members. If a member is missing, use the \"Add Member\" option to input their required information, such as DOB, gender, SSN, and address. Ensure all joint owners sign and date all documentation.","title":"How can I ensure joint ownerships are set up correctly in INSURANCE EXCHANGE?"},{"description":"Review the client record in the annuity proposal to ensure all members are displayed accurately. Remove duplicates and edit records as necessary to ensure the information is accurate for all members. If invalid SSNs are assigned to members, users will likely receive error messages. Correct the SSN in the member record and return to the proposal. Note that client data may need to be updated in WealthScape and Edge, as well.","title":"How can I review and modify client record members in INSURANCE EXCHANGE?"},{"description":"Premium, ownership type, owners, annuitants, contract state, and solicitation state. These data points are used to filter out annuity products that are not appropriate for the advisor’s scenario from appearing on subsequent screens in the annuity proposal workflow. They also drive required client paperwork.","title":"What data fields are required on the Account Strategy page for an annuity?"},{"description":"No. The same risk tolerance questionnaire is used for both a managed account and an annuity account. Risk scores for both types of accounts should align.","title":"Can the risk tolerance for my client’s Capital Directions Managed Account be different from the risk tolerance for my client’s annuity account?"},{"description":"Select the rep code for the advisor that should be paid for the annuity.","title":"How should I select which rep code to select within an annuity proposal? "},{"description":"For the duration of the pilot phase of PNCI’s fee-based annuity program launch, split rep codes may be used ONLY if all advisors that share a rep code participate in the pilot and all advisors that share a rep code are turned on for Insurance Exchange. In most cases, only individual rep codes will be used during the pilot phase of the launch. When PNCI launches fee-based for all 800+ advisors, then split rep codes will be more widely used. The primary advisor must be selected for the annuity account at the L&A check. ","title":"Can advisors use split rep codes on annuity proposals? "},{"description":"Yes. A valid, 9-digit brokerage account number (BAN) is required to generate an annuity proposal. The brokerage account type must mirror the annuity account type. For example, an advisor cannot select an individual brokerage account type and a custodian annuity account type.","title":"Is a brokerage account number necessary for an annuity proposal?"},{"description":" Yes, but the brokerage account can only contain cash.","title":"Can an existing brokerage account be utilized for the annuity fee? "},{"description":"No. Commissioned annuities cannot be linked to a managed coded fee-based shell account because it causes errors with the commission process.","title":"Can a commissioned annuity and a fee based annuity be held in the same brokerage account?"},{"description":"Yes, but it must be an on-platform Envestnet account or an existing Fidelity brokerage account. The brokerage account cannot contain other assets.","title":"Can I set up an Optional Debit Account for fees?"},{"description":"No, the advisor cannot include more than one annuity within a single proposal due to AnnuityNet integration limitations. AnnuityNet can only \"ingest\" one case at a time from Envestnet. The system will let you add more than one annuity to the proposal but AnnuityNet will only render one ticket.","title":"Can I open multiple annuity accounts at once in AnnuityNet? "},{"description":"Yes, advisors can add a Capital Direction managed brokerage account to the annuity proposal. PNCI Capital Directions is the only program where this feature is available. Clients can even add multiple Capital Directions managed brokerage accounts to the annuity proposal. If the Capital Directions Annuity or managed account is already established, the advisor can create a proposal for the existing client and household.","title":"Can I add a managed Capital Directions Brokerage Account to an Annuity? "},{"description":"No, each account must have a separate and distinct brokerage account number.","title":"Can a Capital Directions account and an Annuity account share an account number?"},{"description":"No, annuity proposals must be run through the NextGen Proposal. Advisors will not be able to launch AnnuityNet, and no annuity ticket within AnnuityNet will be created if the Legacy proposal workflow is used.","title":"Can I use the Legacy Proposal for annuity proposals? "},{"description":"Data pre-populates into asset allocation screen with the annuity proposal differently based on carrier and product specifics. Default allocations provided may need adjustment to align with the client’s target risk tolerance. It's best practice for Advisors to remove default values and rebuild allocations.","title":"How does the asset allocation step function?"},{"description":"For PNCI’s fee-based annuities pilot launch, there will be 9 products from 3 carriers available. Product availability is contingent on specific criteria such as state and product structure. See the PNCI Resource Center for a complete listing of available fee based annuity products ","title":"Will all PNCI annuity products be available on INSURANCE EXCHANGE?"},{"description":"Navigate to the Research Center, expand the annuity name and state availability will be displayed.","title":"Where can I find a list of annuity products available by state? "},{"description":"The products available at launch include: \n<ul>\n<li>Lincoln Level Advantage Design</li>\n<li>Advisory Indexed Variable Annuity</li>\n<li>Equitable SCS Income ADV & CSC PLUS 21 Series ADV </li>\n</ul>\nIf an advisor selects a Structured Annuity / RILA:\n<ul>\n<li>The advisor will first arrive at the \"Contract Highlights\" screen.</li>\n<li>After selecting \"Continue to Allocation,\" the advisor will be directed to the \"Allocations & Analysis\" screen.</li>\n<li>The advisor must manually specify percentages in the \"available strategies\" section.</li>\n<li>These actions will update the Efficient Frontier chart for the chosen sub-account shown in the “Allocation & Analysis” screen.</li>\n<li>However, the risk score will not auto-update based on pre-selected sub-accounts scoring. Advisors must adjust the percentages to trigger the risk score to update. </li>\n</ul>","title":"Could you elaborate on how advisors should analyze Structured Annuities/RILAs within INSURANCE EXCHANGE? "},{"description":"No, this feature is scheduled to be available in 2024. ","title":"Can advisors personalize a \"Favorite\" Fund lineup for each product on INSURANCE EXCHANGE?"},{"description":"If you wish to assume control over a fee-based annuity from another Advisor, the representative of record with the carrier must be altered.\n While neither Envestnet nor INSURANCE EXCHANGE directly aids this transition, they can assist in integrating the annuity onto the platform for both management and billing once you are designated the Agent of Record (AOR).\n Please note, Envestnet does not store historical performance data and will only begin monitoring from the moment they obtain it.\n For annuities from different firms, a BD change with the carrier is mandatory. Certain carriers may even provide a dedicated conversion team to facilitate this on a larger scale. ","title":"How can I assume control over a fee-based annuity previously managed by another Advisor from my or a different firm?"},{"description":"No, INSURANCE EXCHANGE does not act as a custodian since it does not manage assets.","title":"Does INSURANCE EXCHANGE function as a custodian?"},{"description":"The time varies based on the procedure of the carrier. A typical timeline is 24 – 72 hours, but it may take longer. Some carriers, however, offer real-time updates, given they have advisor training records on file.\n ","title":"How long does it take for my product training and appointments to reflect on the carrier side? "},{"description":"Presently, INSURANCE EXCHANGE provides a side-by-side data comparison tool seen on the Annuity Marketplace screen within SIMON from iCapital, at the top right corner. Enhanced features are anticipated soon. ","title":"Are there any tools in INSURANCE EXCHANGE for comparing annuities? "},{"description":"If no annuity products display, it could mean the client is not eligible for any policies due to factors like age, state of residence, or account registration type. If an advisor receives an error message while trying to select an annuity product, please check the set up of the advisor’s user profile and ensure that required fields are populated.\n \nRequired fields include:\n<ul>\n<li>Advisor name</li>\n<li>SSN</li>\n<li>National Producer Number (NPN)</li>\n<li>Resident Address (2-digit state abbreviation, e.g. ‘PA’)</li>\n<li>Rep code</li>\n<li>Email address</li>\n</ul>\n ","title":"What if no annuity products are displayed in INSURANCE EXCHANGE? "},{"description":"Overlays pertain specifically to the following variable annuities:\n<ul>\n<li>Monument Advisor</li>\n<li>Elite Access II Advisory</li>\n<li>Perspective II Advisory </li>\n</ul>\nOverlays are not suitable for other VAs due to their inbuilt models through the PPFA, which could conflict with PNCI riders.","title":"For what products are overlays relevant? "},{"description":"Send all questions related to product overlays to <a href=\"mailto:PNCAnnuitySupport@fid.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"Who do I call if I have a question about overlays? "},{"description":"PNCI is responsible for processing advisory fees. During the \"Account Setup\" step of the proposal workflow, Advisors have the option to select a debit account for fee extraction. This can be an on-platform account managed by Envestnet or an off-platform one associated with Fidelity. If no preference is stated, funds will be automatically sourced from the annuity.\n \nIt is essential for the Debit Account to either be an on-platform Envestnet or a Fidelity brokerage account.","title":"How does PNCI manage fees and what are the options available for advisors? "},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid.com\">PNCAnnuitySupport@fid-x.com</a> for assistance.\n ","title":"What should I do if the Contract Page doesn't load?"},{"description":"Reach out to <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for support.","title":"The Contract Page loads but doesn't show risk for variable annuity products. What's next?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"Allocations are not loading properly on the Contract Page. Who do I contact?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for a solution.","title":"What if the Insurance Dashboard fails to load?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for this issue.","title":"The Insurance Dashboard loads but I can’t see my contract. What should I do?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for resolution.","title":"The Product Training button doesn’t allow the advisor SSO to SIMON from iCapital. What's my next step?"},{"description":"Reach out to <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I'm having trouble inputting my NPN for Product Training. Who do I reach out to?"},{"description":"In this case, contact <a href=\"mailto:helllo@simonmarkets.io\">helllo@simonmarkets.io</a>.","title":"SSO to SIMON from iCapital works, but the learning isn’t loading. Who is responsible for this?"},{"description":"Verify that the firm should have in-force available. If yes, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"The in-force option isn't available on the Contract Page, but it should be. What do I do?"},{"description":"In general, inforce transaction types include: Fund transfer, withdrawal, rebalance, subsequent premium. Transaction availability varies by carrier. Confirm that the annuity product supports the desired transaction. If it does, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"Transactions I need aren’t visible on the Inforce Management Page. What’s the procedure?"},{"description":"You should contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for these issues.","title":"What if I encounter functionality issues on the In-force Management Page?"},{"description":"Determine the message stated and contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"Submission fails on the In-force Management Page. What should I do?"},{"description":"Review the message for cause and contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com </a>or Envestnet as appropriate.","title":"SSO fails when selecting an Annuity Product. Who do I contact?"},{"description":"For these issues, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I'm having trouble with the Annuity MarketPlace button (on the Insurance Exchange landing page). What do I do?"},{"description":"A valid, 9-digit brokerage account number (BAN) is required to generate annuity proposal. The brokerage account type must mirror the annuity account type. For example, an advisor cannot select an individual brokerage account type and a custodian annuity account type. If the brokerage account number field is not editable, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I’m having trouble with the Brokerage Account Number (BAN) on the Annuity Blueprint grid. What do I do?"},{"description":"Advisors must enter a Tax Qualification code on the Annuity Blueprint screen. If Tax Qualification drop down menu is not functioning or displaying values, then contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I’m having trouble with the Tax Qualification code on the Annuity Blueprint grid What do I do?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for this type of issue.","title":"Data from Envestnet Account Strategy is not mapping over to the Annuity Blueprint grid correctly?"},{"description":"Go to the SIMON Learning Center, which is found in the ‘Explore’ section of the INSURANCE EXCHANGE landing page. Click the ‘Get Started’ Product Training button to launch the Learning Center.","title":"Where do I go to complete required annuity product training?"},{"description":"If the button is not visible or enabled, or if SSO to SIMON from iCapital fails, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>. \nIf the advisor is able to reach the Learning Center but content does not load, contact SIMON from iCapital at <a href=\"mailto:hello@simonmarkets.io\">hello@simonmarkets.com</a>.","title":"How do I triage Product Training button issues for PNC users?"},{"description":"Reference the firm’s product list and confirm that the product should be available. Review & confirm the parameters entered by the advisor do not filter out any products (i.e., age, tax qual, state, etc.). If the product should be available and should not be filtered out, then contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I do not see the product I am looking for in the Annuity MarketPlace. What do I do?"},{"description":"If the button is not appearing or not working, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I am having problems with the ‘Can Sell’ button in the Annuity MarketPlace. What do I do?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>. Example issues: products and/or related data is missing from the columns, rates are missing, search capability or column filtering is not working properly, documentation is not available.","title":"I have questions about what I see on the Annuity Comparison or Contract Highlights pages within annuity MarketPlace. Who should I call? "},{"description":"Contact <a href=\"mailto:hello@simonmarkets.io\">hello@simonmarkets.com</a>. However, if the breadcrumb navigation in the header of the page or the \"Back to Insurance Exchange\" button in the footer of the page is not working, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I have questions about the Annuity Comparison functionality within Annuity MarketPlace. Who should I call?"},{"description":"The Efficient Frontier is used for structured and fixed annuity products. If issues persist after attempting basic troubleshooting, contact <a href=\"mailto:hello@simonmarkets.io\">hello@simonmarkets.com</a>. Example issues include Allocation Backtesting graph is not displaying or working properly after an allocation has been entered; Index Strategy Back testing tab is not displaying or working properly. However, if there is an issue with the ‘Back to Contract Highlights or ‘Confirm and Continue’ buttons in the footer of the page, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I have questions about the Efficient Frontier page. Who should I contact?"},{"description":"The Asset Allocation and Portfolio Analysis page is used for variable annuity products. Be sure to read the message within the graphs--the product may not have the requisite amount of performance history to allow this graph to plot. If issues persist after attempting basic troubleshooting, contact SIMON from iCapital at <a href=\"mailto:hello@simonmarkets.io\">hello@simonmarkets.com</a>. However, if after updating allocations on this page the Custom Portfolio on the chart does not update or if there is an issue with the ‘Confirm and Continue’ button in the footer of the page, contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a>.","title":"I have questions about the Portfolio Comparison and Allocation Past Performance page. What should I do?"},{"description":"Contact <a href=\"mailto:hello@simonmarkets.io\">hello@simonmarkets.com</a> for these queries. Example issues include questions related to data in the product tables, the tools within Contact Highlights are not rendering expected results, or product literature is missing.","title":"I have questions about the Contract Details page. Who do I contact?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for any issues related to allocation specifics.","title":"What if I am having problems with entering allocation details (e.g., selecting benefit options, program options or selecting sub-accounts)?"},{"description":"Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for any issues related to illustrations.","title":"Who handles issues with the Generate Illustration or Continue Without Illustration buttons?"},{"description":"If an advisor receives a failure message, the error message received will explain what criteria has not been met. The advisor will need to address outstanding L&A requirements prior to advancing the proposal.","title":"What happens if an advisor fails the licensing and appointment (L&A) checks during the proposal process?"},{"description":"Green means the advisor “Can Sell” the product, yellow indicates that the advisor “May Sell” the product, and red indicates the Advisor may not sell the product. It’s possible that the advisor is not licensed or that they need to complete required product training before continuing with the proposal. Advisors may navigate the SIMON Learning Center to complete product training. If an advisor insists that he has completed required training yet is still receiving an error message, there may be a timing issue and the carrier’s system may not be updated.\nContact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for system issues or unexpected results related to L&A checks.","title":"There are issues with Licensing & Appointment, or I see different colored messages. What do these colors mean?"},{"description":"Real time L&A checks are not available for any Lincoln product. Contact <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> for L&A related questions for all other fee-based products.","title":"What if there are no messages or errors in Licensing & Appointment?"}],"nav_icon":{"icon_field":{"icon_set":"fontawesome-5.14.0","name":"Graduation Cap","type":"SOLID","unicode":"f19d"},"image":{"alt":"shipping-icon","height":40,"loading":"lazy","max_height":512,"max_width":512,"size_type":"exact","src":"https://24189298.fs1.hubspotusercontent-na1.net/hubfs/24189298/shipping-icon.webp","width":40}},"tab_title":"Pre-Sale"},{"content":[{"description":"INSURANCE EXCHANGE provides Envestnet with a DTO Payload, which contains the L&A messaging obtained directly from the carrier via a real time API call. The message seen by the user will vary based on specific messaging protocols of each carrier.","title":"How does L&A Messaging work prior to launching AOE? "},{"description":"It depends on the annuity. Some products include a DCA option and others do not. If DCA is available, you will see this during the proposal workflow.","title":"Is Dollar Cost Averaging (DCA) available?"},{"description":"While most of the client and policy information will pre-fill from the proposal into AnnuityNet, some items will need to be manually re-entered into AnnuityNet, including client gender, payment information and risk tolerance. Please note that these fields must match between the proposal and the application.\n \nIf a user selects the custodian as the ownership type coupled with the Traditional IRA (408b) for tax qualification, this results in an error. This is attributed to the policy of Annuity Net against having non-individual entities as the owner type for IRAs. For those utilizing AnnuityNet directly, it is advised to opt for \"Individual\" under the Ownership Type in their proposals.\n For Jackson products (Elite Access Advisory II and Prospective Advisory II) and Equitable products (SCS ADV, SCS Income ADV, SCS Plus 21 ADV, and SCS Plus 21 Ser ADV):\n<ul>\n<li>If Advisor does not select a Program Option, e.g., DCA, within the annuity proposal, AnnuityNet will not pre-fill \"no\".</li>\n<li>Advisor must confirm their selection, e.g., select \"no\", within AnnuityNet.</li>\n<li>The Advisor will not be allowed to change their selection to \"yes\".</li>\n<li>If Advisor does select a Program Option within the annuity proposal, that option will pre-fill correctly in AnnuityNet</li>\n</ul>\n \nNote that if the DCA option selected in the proposal differs from the option selected in AnnuityNet, you will receive a NIGO notification.\n \nIf DCA is selected for the Equitable CSC Plus 21 ADV product, the Advisor must ensure that a cash source is added to the portfolio. If this is not done, the risk value will remain unchanged, and the Advisor will encounter an error message.","title":"What should advisors be aware of regarding data pre-filling in AnnuityNet? "},{"description":"Do not enter debit account information within the annuity proposal. Instead, there is a question within AnnuityNet where you can provide the annuity billing account number.","title":"How should I handle the Account Setup Proposal Step? "},{"description":"Most of the client and policy selection information will pre-fill from the annuity proposal to the AnnuityNet annuity ticket. However, some data points like client gender, payment information, and risk tolerance, need to be manually entered within AnnuityNet. It is crucial that these fields match between the annuity proposal and the AnnuityNet annuity submission, especially the risk tolerance.","title":"What information is prefilled in AnnuityNet from the annuity proposal?"},{"description":"Advisors should contact the PNC back office operations team. They will triage the issue and, if necessary, reach out to Fidelity Technical Support.","title":"Data is not prefilling into AnnuityNet isn't working as expected. What's the protocol?"},{"description":"Advisors will be required to generate documents from the annuity proposal but should wait until after the AnnuityNet submission to print all documents from AnnuityNet. After the annuity is fully submitted, advisors should print from the AnnuityNet Status of Business “Documents” button as the documents on the annuity ticket confirmation screen will not have all required documents. If a Capital Directions Managed Account was opened along with the annuity, the advisor will need to download ONLY the managed account related documents from the proposal. All the annuity documents will be listed as well. However, annuity related documents will be need to be received from AnnuityNet.","title":"How does paperwork generation work between INSURANCE EXCHANGE and AnnuityNet? "},{"description":"PNCI’s Form CRS, PNCI’s Annuity Disclosure, PNCI’s Advisory Annuity Billing Agreement, and the Carrier’s Application along with other carrier documents.","title":"What documents are housed in the \"PNCI Form CRS and Annuity Application\"? "},{"description":"AnnuityNet eSignature is in development and will be available for annuities sometime early 2024.","title":"When will AnnuityNet eSignature be available?"},{"description":"On the \"Annuity Blueprint\" screen, Advisors should confirm the brokerage account number, registration type, and other details related to the annuity policy. Any edits must be made prior to launching into AnnuityNet.\n \nOnce an Advisor launches into AnnuityNet, they can no longer unlock or edit the proposal. ","title":"Can I edit client information in AnnuityNet? "},{"description":"Yes, clients must sign a new Advisory Annuity Billing Agreement that will render from AnnuityNet. The required account numbers will prefill to the form through the answer to a new annuity billing account Transaction Detail Report (TDR) question. Qualified accounts are not eligible to be used to pay another account’s fees.","title":"Are there any new requirements for the Advisory Annuity Billing Agreement? "}],"nav_icon":{"icon_field":{"icon_set":"fontawesome-5.14.0","name":"Alternate Store","type":"SOLID","unicode":"f54f"},"image":{"alt":"shipping-icon","height":40,"loading":"lazy","max_height":512,"max_width":512,"size_type":"exact","src":"https://24189298.fs1.hubspotusercontent-na1.net/hubfs/24189298/shipping-icon.webp","width":40}},"tab_title":"At-Sale"},{"content":[{"description":"The INSURANCE EXCHANGE team extends a comprehensive array of training and assistance for its advisor users. Initial onboarding sessions familiarize Advisors with nuisances on the platform, complemented by sustained training and backing, ensuring efficient utilization of offerings on the platform. Moreover, financial Advisors can delve into the PNCI Resource Center, a repository of pivotal training resources.","title":"What training and support mechanisms are at the disposal of advisors utilizing INSURANCE EXCHANGE?"},{"description":"If staying within the established risk parameters of the client, no new paperwork or home office approval is needed. However, if there is a change in risk, both are required. After changes are saved in Envestnet, the advisor contacts the carriers for updates. Rick discrepancies can trigger an IP violation, and if unresolved for 16 months, PNCI sends a notification to the client. For fee changes, no approvals are necessary.","title":"How do inforce transactions work?"},{"description":"The development of automated in-force transaction processing is underway. Different carriers support different types of in-force transactions and development projects are required to enable in-force transactions within INSURANCE EXCHANGE. If a carrier supports an in-force transaction, it is denoted by a green signal within the Envestnet platform.","title":"Why is it necessary to go to the carrier for in-force transactions post the issuance stage?"},{"description":"A strategy modification becomes essential when there is a change in advisory fees of the client, sub-accounts, sub-account percentages, risk tolerance, or investment objective. These modifications can be executed from the service tab of the contract for the client.","title":"Under what circumstances is a strategy modification necessary? "},{"description":"On Day 1, when PNCI initiates a strategy modification, it is approved via the home office, which then triggers an SR with various tasks. These tasks are not automated on Day 1. At present, PNCI does not handle these tasks — they are managed by Envestnet. \nFrom Pilot launch (11/13/23) through Campaign launch (date TBD), Ian Clark or Adam Williams from the Envestnet Launch team will offer assistance to PNCI if there is a need to complete strategy modification tasks. \nThe only requirement for PNCI advisors is to obtain approval for the strategy modification through the home office.","title":"What is the Strategy Modification workflow for PNCI?"},{"description":"Strategy Modifications are managed similarly as the policy number in Envestnet. Navigate to the client record and then to the Service tab. Click the \"+\" button adjacent to the policy and then select “Modify Strategy” to begin a Strategy Modification proposal. If you wish to alter the risk tolerance of the client, signed paperwork must be completed and sent to BPM for additional processing. Do note, the annuity billing account number cannot be modified during a Strategy Modification proposal.","title":"How do I manage Strategy Modifications?"},{"description":"Our dedicated team can be reached via 888-459-6851 Monday - Friday between 8 a.m. and 6 p.m. ET, barring holidays.","title":"What is the availability of the Envestnet Advisor Services Team?"},{"description":"The team can be reached at <a href=\"mailto:PNCAnnuitySupport@fid-x.com\">PNCAnnuitySupport@fid-x.com</a> Monday – Friday between 8 a.m. and 6 p.m. ET, barring holidays.","title":"What is the availability of the Client Engagement Team from FIDX?"},{"description":"The team can be reached at <a href=\"mailto:hello@simonmarkets.com\">hello@simonmarkets.com</a> or 888-31-SIMON between 8 a.m. and 5 p.m. ET, barring holidays.","title":"What is the availability of the SIMON from iCapital Platform Engagement Team?"}],"nav_icon":{"icon_field":{"icon_set":"fontawesome-5.14.0","name":"Check Circle","type":"REGULAR","unicode":"f058"},"image":{"alt":"shipping-icon","height":40,"loading":"lazy","max_height":512,"max_width":512,"size_type":"exact","src":"https://24189298.fs1.hubspotusercontent-na1.net/hubfs/24189298/shipping-icon.webp","width":40}},"tab_title":"Post-Sale"},{"content":[{"description":"Fee-based annuities are a recent addition to PNCI product inventory. The fee-based annuity program is being launched with a pilot group of 22 Advisors. Advisors can open managed accounts and include one annuity account within a single proposal. The maximum allocation to the annuity is 25%.","title":"How are Advisors in the Premiere (Pilot) Group organized?"},{"description":"The Defect Tracker can be found at <a href=\"https://fidx.monday.com/boards/2610872264/views/79511578\">https://fidx.monday.com/boards/2610872264/views/79511578</a>.","title":"Where is the Defect Tracker located?"},{"description":"Advisors gain a holistic view of their business, enabling data-driven decisions for enhanced performance. Customized reports and recommendations are also provided. ","title":"How can INSURANCE EXCHANGE improve my business performance?"},{"description":"INSURANCE EXCHANGE is SOC 2 compliant, ensuring the highest industry standards are met.","title":"What security protocols are in place at INSURANCE EXCHANGE?"},{"description":"All advisor profiles are set up on the Envestnet platform. Envestnet provides advisor related details, such as name (first and last), SSN, CRD Firm #, NPN, resident address (2-digit state code), and email address for INSURANCE EXCHANGE users through data integration protocols.","title":"How does Advisor data get from Envestnet into Insurance Exchange?"},{"description":"Susan Stec at Envestnet is the Subject Matter Expert (SME). \nThe Not in Model IP and Risk Variance IP both have a \"Hard Stop\" status listed by Compliance Monitoring. \nThe \"Hard Stop\" for Compliance Monitoring essentially creates a Violation record. However, it is worth noting that the use of Compliance Monitoring does not deter from regular maintenance activities or actions. It primarily serves to generate records for oversight.\n ","title":"Who is the SME for IP Rules and what is the significance of the \"Hard Stop\" from Compliance Monitoring?"}],"nav_icon":{"icon_field":{"icon_set":"fontawesome-5.14.0","name":"Spinner","type":"SOLID","unicode":"f110"},"image":{"alt":"shipping-icon","height":40,"loading":"lazy","max_height":512,"max_width":512,"size_type":"exact","src":"https://24189298.fs1.hubspotusercontent-na1.net/hubfs/24189298/shipping-icon.webp","width":40}},"tab_title":"Other"}]

What is INSURANCE EXCHANGE, and how does it work?

INSURANCE EXCHANGE is a digital platform enabling advisors to access annuity products from multiple carriers. It integrates with tools like Envestnet, iRetire, and MoneyGuide Pro.

What are the benefits of using INSURANCE EXCHANGE for advisors?

Advisors can access a broad range of products, achieve greater efficiency, streamline processes, get comprehensive product info, and ensure regulatory compliance.

How does INSURANCE EXCHANGE help Advisors serve their clients?

It provides a wider product range, streamlines processes, and offers detailed product information for informed recommendations.

How does INSURANCE EXCHANGE assist in managing clients' annuities and insurance policies?

Advisors can manage product information, initiate annuity transactions, and track client data, all within an integrated wealth management platform.

How does INSURANCE EXCHANGE maintain such low NIGO rates?

For Advisors: We implement robust guardrails for every proposal according to the carrier-defined business regulations, avoiding typical pitfalls in the application process and automatically filling in the application using this data.

For the Home Office: We streamline the processes of documentation, review, approval, and contract issuance, keeping them updated at each stage via our reporting features.

For Everyone: We ensure a consistent user experience across all carriers, reducing the reputational risk for advisors who regularly face NIGOs with specific carriers.

What is the fee standard for INSURANCE EXCHANGE?

Fees are equivalent to the Capital Directions managed account: upfront for the initial year, followed by a quarterly rate thereafter.

I already utilize a digital Account Order Entry (AOE) system, so why would I need INSURANCE EXCHANGE?

While having a digital AOE is crucial, it only represents a segment of the digital annuity journey.

INSURANCE EXCHANGE enhances and strengthens this journey through advanced features like pre-filing and the No-NIGO engine, company guidelines, L&A checks, and more.

A solitary AOE cannot safeguard the franchise, meaning it lacks compliance tools, management utilities, dashboards, and insights into the business.

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What PNC program allows for fee-based annuities?

Capital Directions

What is the annuity proposal workflow for PNCI Advisors?

Advisors must begin in Wealthscape (Fidelity) or Edge to SSO into INSURANCE EXCHANGE and initiate a Next Gen proposal to purchase a fee-based annuity.

Can I use the Legacy Proposal flow to initiate annuity proposals?

No, annuity proposals must be run through the NextGen Proposal workflow. Advisors will not be able to launch AnnuityNet, and no annuity ticket within AnnuityNet will be created if the Legacy proposal workflow is used.

How do I open an integrated managed account with a fee based annuity?

If you want to open a new brokerage account that will be a Capital Directions Managed Account and use it with a fee-based annuity, Advisors must start in Edge. Use the "Capital Directions Annuities" product option under Capital Direction in Edge, which will create a shell proposal for you where you can add in the fee-baed annuity and Capital Directions managed account.

Can I add an annuity to an existing Capital Directions client using a Strategy Modification?

No, even if a client has an existing managed Capital Directions account, annuities cannot be purchased through a Strategy Modification into that existing account. A new Next Generation Proposal must be started for any annuity purchase.

Where can I add a Capital Directions Managed Account to my annuity proposal?

If the advisor has already selected an annuity product, from the Account Strategy page, they may click the ‘Add New Solution’ button to add a Capital Directions managed account to the proposal. Note that a separate Capital Directions brokerage account must already be set up to complete this step.

How is the client and product data populated into the annuity proposal?

This data is pulled from Wealthscape and from the Envestnet proposal. This minimizes the amount of client and product information data that the advisor has to type into the system. All client data, except beneficiary details, will be pre-populated into the annuity proposal and roughly 60-80% of this combined data pre-fills in various locations throughout the annuity workflow.

What client data fields are required to create an annuity proposal?

Date of birth, gender, and state

Are there special considerations re: ownership type?

The account type linked with the brokerage account number (BAN) must match what is selected on INSURANCE EXCHANGE UI. A mismatch can cause problems in AnnuityNet.

How can a client purchase an additional fee-based annuity?

To purchase an additional annuity policy, you will need to create a new proposal. Although multiple annuities cannot be proposed together, an advisor can link multiple fee-based annuities to one brokerage account by processing individual proposals. The annuity policies must be fee-based, and the new policy should match any existing policy with respect to risk tolerance, fee schedule, and annuity billing account. If any of these variables differ, a separate PNCI brokerage account would be necessary.

How can I ensure joint ownerships are set up correctly in INSURANCE EXCHANGE?

Ensure that both proper owners are shown in the annuity proposal by looking up the client name. Go to the client record and click on ‘General’ to view the members. If a member is missing, use the "Add Member" option to input their required information, such as DOB, gender, SSN, and address. Ensure all joint owners sign and date all documentation.

How can I review and modify client record members in INSURANCE EXCHANGE?

Review the client record in the annuity proposal to ensure all members are displayed accurately. Remove duplicates and edit records as necessary to ensure the information is accurate for all members. If invalid SSNs are assigned to members, users will likely receive error messages. Correct the SSN in the member record and return to the proposal. Note that client data may need to be updated in WealthScape and Edge, as well.

What data fields are required on the Account Strategy page for an annuity?

Premium, ownership type, owners, annuitants, contract state, and solicitation state. These data points are used to filter out annuity products that are not appropriate for the advisor’s scenario from appearing on subsequent screens in the annuity proposal workflow. They also drive required client paperwork.

Can the risk tolerance for my client’s Capital Directions Managed Account be different from the risk tolerance for my client’s annuity account?

No. The same risk tolerance questionnaire is used for both a managed account and an annuity account. Risk scores for both types of accounts should align.

How should I select which rep code to select within an annuity proposal?

Select the rep code for the advisor that should be paid for the annuity.

Can advisors use split rep codes on annuity proposals?

For the duration of the pilot phase of PNCI’s fee-based annuity program launch, split rep codes may be used ONLY if all advisors that share a rep code participate in the pilot and all advisors that share a rep code are turned on for Insurance Exchange. In most cases, only individual rep codes will be used during the pilot phase of the launch. When PNCI launches fee-based for all 800+ advisors, then split rep codes will be more widely used. The primary advisor must be selected for the annuity account at the L&A check.

Is a brokerage account number necessary for an annuity proposal?

Yes. A valid, 9-digit brokerage account number (BAN) is required to generate an annuity proposal. The brokerage account type must mirror the annuity account type. For example, an advisor cannot select an individual brokerage account type and a custodian annuity account type.

Can an existing brokerage account be utilized for the annuity fee?

Yes, but the brokerage account can only contain cash.

Can a commissioned annuity and a fee based annuity be held in the same brokerage account?

No. Commissioned annuities cannot be linked to a managed coded fee-based shell account because it causes errors with the commission process.

Can I set up an Optional Debit Account for fees?

Yes, but it must be an on-platform Envestnet account or an existing Fidelity brokerage account. The brokerage account cannot contain other assets.

Can I open multiple annuity accounts at once in AnnuityNet?

No, the advisor cannot include more than one annuity within a single proposal due to AnnuityNet integration limitations. AnnuityNet can only "ingest" one case at a time from Envestnet. The system will let you add more than one annuity to the proposal but AnnuityNet will only render one ticket.

Can I add a managed Capital Directions Brokerage Account to an Annuity?

Yes, advisors can add a Capital Direction managed brokerage account to the annuity proposal. PNCI Capital Directions is the only program where this feature is available. Clients can even add multiple Capital Directions managed brokerage accounts to the annuity proposal. If the Capital Directions Annuity or managed account is already established, the advisor can create a proposal for the existing client and household.

Can a Capital Directions account and an Annuity account share an account number?

No, each account must have a separate and distinct brokerage account number.

Can I use the Legacy Proposal for annuity proposals?

No, annuity proposals must be run through the NextGen Proposal. Advisors will not be able to launch AnnuityNet, and no annuity ticket within AnnuityNet will be created if the Legacy proposal workflow is used.

How does the asset allocation step function?

Data pre-populates into asset allocation screen with the annuity proposal differently based on carrier and product specifics. Default allocations provided may need adjustment to align with the client’s target risk tolerance. It's best practice for Advisors to remove default values and rebuild allocations.

Will all PNCI annuity products be available on INSURANCE EXCHANGE?

For PNCI’s fee-based annuities pilot launch, there will be 9 products from 3 carriers available. Product availability is contingent on specific criteria such as state and product structure. See the PNCI Resource Center for a complete listing of available fee based annuity products

Where can I find a list of annuity products available by state?

Navigate to the Research Center, expand the annuity name and state availability will be displayed.

Could you elaborate on how advisors should analyze Structured Annuities/RILAs within INSURANCE EXCHANGE?

The products available at launch include:

Lincoln Level Advantage Design
Advisory Indexed Variable Annuity
Equitable SCS Income ADV & CSC PLUS 21 Series ADV

If an advisor selects a Structured Annuity / RILA:

The advisor will first arrive at the "Contract Highlights" screen.
After selecting "Continue to Allocation," the advisor will be directed to the "Allocations & Analysis" screen.
The advisor must manually specify percentages in the "available strategies" section.
These actions will update the Efficient Frontier chart for the chosen sub-account shown in the “Allocation & Analysis” screen.
However, the risk score will not auto-update based on pre-selected sub-accounts scoring. Advisors must adjust the percentages to trigger the risk score to update.

Can advisors personalize a "Favorite" Fund lineup for each product on INSURANCE EXCHANGE?

No, this feature is scheduled to be available in 2024.

How can I assume control over a fee-based annuity previously managed by another Advisor from my or a different firm?

If you wish to assume control over a fee-based annuity from another Advisor, the representative of record with the carrier must be altered.

While neither Envestnet nor INSURANCE EXCHANGE directly aids this transition, they can assist in integrating the annuity onto the platform for both management and billing once you are designated the Agent of Record (AOR).

Please note, Envestnet does not store historical performance data and will only begin monitoring from the moment they obtain it.

For annuities from different firms, a BD change with the carrier is mandatory. Certain carriers may even provide a dedicated conversion team to facilitate this on a larger scale.

Does INSURANCE EXCHANGE function as a custodian?

No, INSURANCE EXCHANGE does not act as a custodian since it does not manage assets.

How long does it take for my product training and appointments to reflect on the carrier side?

The time varies based on the procedure of the carrier. A typical timeline is 24 – 72 hours, but it may take longer. Some carriers, however, offer real-time updates, given they have advisor training records on file.

Are there any tools in INSURANCE EXCHANGE for comparing annuities?

Presently, INSURANCE EXCHANGE provides a side-by-side data comparison tool seen on the Annuity Marketplace screen within SIMON from iCapital, at the top right corner. Enhanced features are anticipated soon.

What if no annuity products are displayed in INSURANCE EXCHANGE?

If no annuity products display, it could mean the client is not eligible for any policies due to factors like age, state of residence, or account registration type. If an advisor receives an error message while trying to select an annuity product, please check the set up of the advisor’s user profile and ensure that required fields are populated.

Required fields include:

Advisor name
SSN
National Producer Number (NPN)
Resident Address (2-digit state abbreviation, e.g. ‘PA’)
Rep code
Email address

For what products are overlays relevant?

Overlays pertain specifically to the following variable annuities:

Monument Advisor
Elite Access II Advisory
Perspective II Advisory

Overlays are not suitable for other VAs due to their inbuilt models through the PPFA, which could conflict with PNCI riders.

Who do I call if I have a question about overlays?

Send all questions related to product overlays to PNCAnnuitySupport@fid-x.com.

How does PNCI manage fees and what are the options available for advisors?

PNCI is responsible for processing advisory fees. During the "Account Setup" step of the proposal workflow, Advisors have the option to select a debit account for fee extraction. This can be an on-platform account managed by Envestnet or an off-platform one associated with Fidelity. If no preference is stated, funds will be automatically sourced from the annuity.

It is essential for the Debit Account to either be an on-platform Envestnet or a Fidelity brokerage account.

What should I do if the Contract Page doesn't load?

Contact PNCAnnuitySupport@fid-x.com for assistance.

The Contract Page loads but doesn't show risk for variable annuity products. What's next?

Reach out to PNCAnnuitySupport@fid-x.com for support.

The Product Training button doesn’t allow the advisor SSO to SIMON from iCapital. What's my next step?

Contact PNCAnnuitySupport@fid-x.com for resolution.

I'm having trouble inputting my NPN for Product Training. Who do I reach out to?

Reach out to PNCAnnuitySupport@fid-x.com.

SSO to SIMON from iCapital works, but the learning isn’t loading. Who is responsible for this?

In this case, contact helllo@simonmarkets.io.

The in-force option isn't available on the Contract Page, but it should be. What do I do?

Verify that the firm should have in-force available. If yes, contact PNCAnnuitySupport@fid-x.com.

Transactions I need aren’t visible on the Inforce Management Page. What’s the procedure?

In general, inforce transaction types include: Fund transfer, withdrawal, rebalance, subsequent premium. Transaction availability varies by carrier. Confirm that the annuity product supports the desired transaction. If it does, contact PNCAnnuitySupport@fid-x.com.

What if I encounter functionality issues on the In-force Management Page?

You should contact PNCAnnuitySupport@fid-x.com for these issues.

Submission fails on the In-force Management Page. What should I do?

Determine the message stated and contact PNCAnnuitySupport@fid-x.com.

SSO fails when selecting an Annuity Product. Who do I contact?

Review the message for cause and contact PNCAnnuitySupport@fid-x.com or Envestnet as appropriate.

I'm having trouble with the Annuity MarketPlace button (on the Insurance Exchange landing page). What do I do?

For these issues, contact PNCAnnuitySupport@fid-x.com.

I’m having trouble with the Brokerage Account Number (BAN) on the Annuity Blueprint grid. What do I do?

A valid, 9-digit brokerage account number (BAN) is required to generate annuity proposal. The brokerage account type must mirror the annuity account type. For example, an advisor cannot select an individual brokerage account type and a custodian annuity account type. If the brokerage account number field is not editable, contact PNCAnnuitySupport@fid-x.com.

I’m having trouble with the Tax Qualification code on the Annuity Blueprint grid What do I do?

Advisors must enter a Tax Qualification code on the Annuity Blueprint screen. If Tax Qualification drop down menu is not functioning or displaying values, then contact PNCAnnuitySupport@fid-x.com.

Data from Envestnet Account Strategy is not mapping over to the Annuity Blueprint grid correctly?

Contact PNCAnnuitySupport@fid-x.com for this type of issue.

Where do I go to complete required annuity product training?

Go to the SIMON Learning Center, which is found in the ‘Explore’ section of the INSURANCE EXCHANGE landing page. Click the ‘Get Started’ Product Training button to launch the Learning Center.

How do I triage Product Training button issues for PNC users?

If the button is not visible or enabled, or if SSO to SIMON from iCapital fails, contact PNCAnnuitySupport@fid-x.com.

If the advisor is able to reach the Learning Center but content does not load, contact SIMON from iCapital at hello@simonmarkets.com.

I do not see the product I am looking for in the Annuity MarketPlace. What do I do?

Reference the firm’s product list and confirm that the product should be available. Review & confirm the parameters entered by the advisor do not filter out any products (i.e., age, tax qual, state, etc.). If the product should be available and should not be filtered out, then contact PNCAnnuitySupport@fid-x.com.

I am having problems with the ‘Can Sell’ button in the Annuity MarketPlace. What do I do?

If the button is not appearing or not working, contact PNCAnnuitySupport@fid-x.com.

I have questions about what I see on the Annuity Comparison or Contract Highlights pages within annuity MarketPlace. Who should I call?

Contact PNCAnnuitySupport@fid-x.com. Example issues: products and/or related data is missing from the columns, rates are missing, search capability or column filtering is not working properly, documentation is not available.

I have questions about the Annuity Comparison functionality within Annuity MarketPlace. Who should I call?

Contact hello@simonmarkets.com. However, if the breadcrumb navigation in the header of the page or the "Back to Insurance Exchange" button in the footer of the page is not working, contact PNCAnnuitySupport@fid-x.com.

I have questions about the Efficient Frontier page. Who should I contact?

The Efficient Frontier is used for structured and fixed annuity products. If issues persist after attempting basic troubleshooting, contact hello@simonmarkets.com. Example issues include Allocation Backtesting graph is not displaying or working properly after an allocation has been entered; Index Strategy Back testing tab is not displaying or working properly. However, if there is an issue with the ‘Back to Contract Highlights or ‘Confirm and Continue’ buttons in the footer of the page, contact PNCAnnuitySupport@fid-x.com.

I have questions about the Portfolio Comparison and Allocation Past Performance page. What should I do?

The Asset Allocation and Portfolio Analysis page is used for variable annuity products. Be sure to read the message within the graphs--the product may not have the requisite amount of performance history to allow this graph to plot. If issues persist after attempting basic troubleshooting, contact SIMON from iCapital at hello@simonmarkets.com. However, if after updating allocations on this page the Custom Portfolio on the chart does not update or if there is an issue with the ‘Confirm and Continue’ button in the footer of the page, contact PNCAnnuitySupport@fid-x.com.

I have questions about the Contract Details page. Who do I contact?

Contact hello@simonmarkets.com for these queries. Example issues include questions related to data in the product tables, the tools within Contact Highlights are not rendering expected results, or product literature is missing.

What if I am having problems with entering allocation details (e.g., selecting benefit options, program options or selecting sub-accounts)?

Contact PNCAnnuitySupport@fid-x.com for any issues related to allocation specifics.

Who handles issues with the Generate Illustration or Continue Without Illustration buttons?

Contact PNCAnnuitySupport@fid-x.com for any issues related to illustrations.

What happens if an advisor fails the licensing and appointment (L&A) checks during the proposal process?

If an advisor receives a failure message, the error message received will explain what criteria has not been met. The advisor will need to address outstanding L&A requirements prior to advancing the proposal.

There are issues with Licensing & Appointment, or I see different colored messages. What do these colors mean?

Green means the advisor “Can Sell” the product, yellow indicates that the advisor “May Sell” the product, and red indicates the Advisor may not sell the product. It’s possible that the advisor is not licensed or that they need to complete required product training before continuing with the proposal. Advisors may navigate the SIMON Learning Center to complete product training. If an advisor insists that he has completed required training yet is still receiving an error message, there may be a timing issue and the carrier’s system may not be updated.

Contact PNCAnnuitySupport@fid-x.com for system issues or unexpected results related to L&A checks.

What if there are no messages or errors in Licensing & Appointment?

Real time L&A checks are not available for any Lincoln product. Contact PNCAnnuitySupport@fid-x.com for L&A related questions for all other fee-based products.

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How does L&A Messaging work prior to launching AOE?

INSURANCE EXCHANGE provides Envestnet with a DTO Payload, which contains the L&A messaging obtained directly from the carrier via a real time API call. The message seen by the user will vary based on specific messaging protocols of each carrier.

Is Dollar Cost Averaging (DCA) available?

It depends on the annuity. Some products include a DCA option and others do not. If DCA is available, you will see this during the proposal workflow.

What should advisors be aware of regarding data pre-filling in AnnuityNet?

While most of the client and policy information will pre-fill from the proposal into AnnuityNet, some items will need to be manually re-entered into AnnuityNet, including client gender, payment information and risk tolerance. Please note that these fields must match between the proposal and the application.

If a user selects the custodian as the ownership type coupled with the Traditional IRA (408b) for tax qualification, this results in an error. This is attributed to the policy of Annuity Net against having non-individual entities as the owner type for IRAs. For those utilizing AnnuityNet directly, it is advised to opt for "Individual" under the Ownership Type in their proposals.

For Jackson products (Elite Access Advisory II and Prospective Advisory II) and Equitable products (SCS ADV, SCS Income ADV, SCS Plus 21 ADV, and SCS Plus 21 Ser ADV):

If Advisor does not select a Program Option, e.g., DCA, within the annuity proposal, AnnuityNet will not pre-fill "no".
Advisor must confirm their selection, e.g., select "no", within AnnuityNet.
The Advisor will not be allowed to change their selection to "yes".
If Advisor does select a Program Option within the annuity proposal, that option will pre-fill correctly in AnnuityNet

Note that if the DCA option selected in the proposal differs from the option selected in AnnuityNet, you will receive a NIGO notification.

If DCA is selected for the Equitable CSC Plus 21 ADV product, the Advisor must ensure that a cash source is added to the portfolio. If this is not done, the risk value will remain unchanged, and the Advisor will encounter an error message.

How should I handle the Account Setup Proposal Step?

Do not enter debit account information within the annuity proposal. Instead, there is a question within AnnuityNet where you can provide the annuity billing account number.

What information is prefilled in AnnuityNet from the annuity proposal?

Most of the client and policy selection information will pre-fill from the annuity proposal to the AnnuityNet annuity ticket. However, some data points like client gender, payment information, and risk tolerance, need to be manually entered within AnnuityNet. It is crucial that these fields match between the annuity proposal and the AnnuityNet annuity submission, especially the risk tolerance.

Data is not prefilling into AnnuityNet isn't working as expected. What's the protocol?

Advisors should contact the PNC back office operations team. They will triage the issue and, if necessary, reach out to Fidelity Technical Support.

How does paperwork generation work between INSURANCE EXCHANGE and AnnuityNet?

Advisors will be required to generate documents from the annuity proposal but should wait until after the AnnuityNet submission to print all documents from AnnuityNet. After the annuity is fully submitted, advisors should print from the AnnuityNet Status of Business “Documents” button as the documents on the annuity ticket confirmation screen will not have all required documents. If a Capital Directions Managed Account was opened along with the annuity, the advisor will need to download ONLY the managed account related documents from the proposal. All the annuity documents will be listed as well. However, annuity related documents will be need to be received from AnnuityNet.

What documents are housed in the "PNCI Form CRS and Annuity Application"?

PNCI’s Form CRS, PNCI’s Annuity Disclosure, PNCI’s Advisory Annuity Billing Agreement, and the Carrier’s Application along with other carrier documents.

When will AnnuityNet eSignature be available?

AnnuityNet eSignature is in development and will be available for annuities sometime early 2024.

Can I edit client information in AnnuityNet?

On the "Annuity Blueprint" screen, Advisors should confirm the brokerage account number, registration type, and other details related to the annuity policy. Any edits must be made prior to launching into AnnuityNet.

Once an Advisor launches into AnnuityNet, they can no longer unlock or edit the proposal.

Are there any new requirements for the Advisory Annuity Billing Agreement?

Yes, clients must sign a new Advisory Annuity Billing Agreement that will render from AnnuityNet. The required account numbers will prefill to the form through the answer to a new annuity billing account Transaction Detail Report (TDR) question. Qualified accounts are not eligible to be used to pay another account’s fees.

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What training and support mechanisms are at the disposal of advisors utilizing INSURANCE EXCHANGE?

The INSURANCE EXCHANGE team extends a comprehensive array of training and assistance for its advisor users. Initial onboarding sessions familiarize Advisors with nuisances on the platform, complemented by sustained training and backing, ensuring efficient utilization of offerings on the platform. Moreover, financial Advisors can delve into the PNCI Resource Center, a repository of pivotal training resources.

How do inforce transactions work?

If staying within the established risk parameters of the client, no new paperwork or home office approval is needed. However, if there is a change in risk, both are required. After changes are saved in Envestnet, the advisor contacts the carriers for updates. Rick discrepancies can trigger an IP violation, and if unresolved for 16 months, PNCI sends a notification to the client. For fee changes, no approvals are necessary.

Why is it necessary to go to the carrier for in-force transactions post the issuance stage?

The development of automated in-force transaction processing is underway. Different carriers support different types of in-force transactions and development projects are required to enable in-force transactions within INSURANCE EXCHANGE. If a carrier supports an in-force transaction, it is denoted by a green signal within the Envestnet platform.

Under what circumstances is a strategy modification necessary?

A strategy modification becomes essential when there is a change in advisory fees of the client, sub-accounts, sub-account percentages, risk tolerance, or investment objective. These modifications can be executed from the service tab of the contract for the client.

What is the Strategy Modification workflow for PNCI?

On Day 1, when PNCI initiates a strategy modification, it is approved via the home office, which then triggers an SR with various tasks. These tasks are not automated on Day 1. At present, PNCI does not handle these tasks — they are managed by Envestnet.

From Pilot launch (11/13/23) through Campaign launch (date TBD), Ian Clark or Adam Williams from the Envestnet Launch team will offer assistance to PNCI if there is a need to complete strategy modification tasks.

The only requirement for PNCI advisors is to obtain approval for the strategy modification through the home office.

How do I manage Strategy Modifications?

Strategy Modifications are managed similarly as the policy number in Envestnet. Navigate to the client record and then to the Service tab. Click the "+" button adjacent to the policy and then select “Modify Strategy” to begin a Strategy Modification proposal. If you wish to alter the risk tolerance of the client, signed paperwork must be completed and sent to BPM for additional processing. Do note, the annuity billing account number cannot be modified during a Strategy Modification proposal.

What is the availability of the Envestnet Advisor Services Team?

Our dedicated team can be reached via 888-459-6851 Monday - Friday between 8 a.m. and 6 p.m. ET, barring holidays.

What is the availability of the Client Engagement Team from FIDX?

The team can be reached at PNCAnnuitySupport@fid-x.com Monday – Friday between 8 a.m. and 6 p.m. ET, barring holidays.

What is the availability of the SIMON from iCapital Platform Engagement Team?

The team can be reached at hello@simonmarkets.com or 888-31-SIMON between 8 a.m. and 5 p.m. ET, barring holidays.

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How are Advisors in the Premiere (Pilot) Group organized?

Fee-based annuities are a recent addition to PNCI product inventory. The fee-based annuity program is being launched with a pilot group of 22 Advisors. Advisors can open managed accounts and include one annuity account within a single proposal. The maximum allocation to the annuity is 25%.

Where is the Defect Tracker located?

The Defect Tracker can be found at https://fidx.monday.com/boards/2610872264/views/79511578.

How can INSURANCE EXCHANGE improve my business performance?

Advisors gain a holistic view of their business, enabling data-driven decisions for enhanced performance. Customized reports and recommendations are also provided.

What security protocols are in place at INSURANCE EXCHANGE?

INSURANCE EXCHANGE is SOC 2 compliant, ensuring the highest industry standards are met.

How does Advisor data get from Envestnet into Insurance Exchange?

All advisor profiles are set up on the Envestnet platform. Envestnet provides advisor related details, such as name (first and last), SSN, CRD Firm #, NPN, resident address (2-digit state code), and email address for INSURANCE EXCHANGE users through data integration protocols.

Who is the SME for IP Rules and what is the significance of the "Hard Stop" from Compliance Monitoring?

Susan Stec at Envestnet is the Subject Matter Expert (SME).

The Not in Model IP and Risk Variance IP both have a "Hard Stop" status listed by Compliance Monitoring.

The "Hard Stop" for Compliance Monitoring essentially creates a Violation record. However, it is worth noting that the use of Compliance Monitoring does not deter from regular maintenance activities or actions. It primarily serves to generate records for oversight.

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Page Title Here

Frequently Asked Questions

What is INSURANCE EXCHANGE, and how does it work?

What are the benefits of using INSURANCE EXCHANGE for advisors?

How does INSURANCE EXCHANGE help Advisors serve their clients?

How does INSURANCE EXCHANGE assist in managing clients' annuities and insurance policies?

How does INSURANCE EXCHANGE maintain such low NIGO rates?

What is the fee standard for INSURANCE EXCHANGE?

I already utilize a digital Account Order Entry (AOE) system, so why would I need INSURANCE EXCHANGE?

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What PNC program allows for fee-based annuities?

What is the annuity proposal workflow for PNCI Advisors?

Can I use the Legacy Proposal flow to initiate annuity proposals?

How do I open an integrated managed account with a fee based annuity?

Can I add an annuity to an existing Capital Directions client using a Strategy Modification?

Where can I add a Capital Directions Managed Account to my annuity proposal?

How is the client and product data populated into the annuity proposal?

What client data fields are required to create an annuity proposal?

Are there special considerations re: ownership type?

How can a client purchase an additional fee-based annuity?

How can I ensure joint ownerships are set up correctly in INSURANCE EXCHANGE?

How can I review and modify client record members in INSURANCE EXCHANGE?

What data fields are required on the Account Strategy page for an annuity?

Can the risk tolerance for my client’s Capital Directions Managed Account be different from the risk tolerance for my client’s annuity account?

How should I select which rep code to select within an annuity proposal?

Can advisors use split rep codes on annuity proposals?

Is a brokerage account number necessary for an annuity proposal?

Can an existing brokerage account be utilized for the annuity fee?

Can a commissioned annuity and a fee based annuity be held in the same brokerage account?

Can I set up an Optional Debit Account for fees?

Can I open multiple annuity accounts at once in AnnuityNet?

Can I add a managed Capital Directions Brokerage Account to an Annuity?

Can a Capital Directions account and an Annuity account share an account number?

Can I use the Legacy Proposal for annuity proposals?

How does the asset allocation step function?

Will all PNCI annuity products be available on INSURANCE EXCHANGE?

Where can I find a list of annuity products available by state?

Could you elaborate on how advisors should analyze Structured Annuities/RILAs within INSURANCE EXCHANGE?

Can advisors personalize a "Favorite" Fund lineup for each product on INSURANCE EXCHANGE?

How can I assume control over a fee-based annuity previously managed by another Advisor from my or a different firm?

Does INSURANCE EXCHANGE function as a custodian?

How long does it take for my product training and appointments to reflect on the carrier side?

Are there any tools in INSURANCE EXCHANGE for comparing annuities?

What if no annuity products are displayed in INSURANCE EXCHANGE?

For what products are overlays relevant?

Who do I call if I have a question about overlays?

How does PNCI manage fees and what are the options available for advisors?

What should I do if the Contract Page doesn't load?

The Contract Page loads but doesn't show risk for variable annuity products. What's next?

Allocations are not loading properly on the Contract Page. Who do I contact?

What if the Insurance Dashboard fails to load?

The Insurance Dashboard loads but I can’t see my contract. What should I do?

The Product Training button doesn’t allow the advisor SSO to SIMON from iCapital. What's my next step?

I'm having trouble inputting my NPN for Product Training. Who do I reach out to?

SSO to SIMON from iCapital works, but the learning isn’t loading. Who is responsible for this?

The in-force option isn't available on the Contract Page, but it should be. What do I do?

Transactions I need aren’t visible on the Inforce Management Page. What’s the procedure?

What if I encounter functionality issues on the In-force Management Page?

Submission fails on the In-force Management Page. What should I do?

SSO fails when selecting an Annuity Product. Who do I contact?

I'm having trouble with the Annuity MarketPlace button (on the Insurance Exchange landing page). What do I do?

I’m having trouble with the Brokerage Account Number (BAN) on the Annuity Blueprint grid. What do I do?

I’m having trouble with the Tax Qualification code on the Annuity Blueprint grid What do I do?

Data from Envestnet Account Strategy is not mapping over to the Annuity Blueprint grid correctly?

Where do I go to complete required annuity product training?

How do I triage Product Training button issues for PNC users?

I do not see the product I am looking for in the Annuity MarketPlace. What do I do?

I am having problems with the ‘Can Sell’ button in the Annuity MarketPlace. What do I do?

I have questions about what I see on the Annuity Comparison or Contract Highlights pages within annuity MarketPlace. Who should I call?

I have questions about the Annuity Comparison functionality within Annuity MarketPlace. Who should I call?

I have questions about the Efficient Frontier page. Who should I contact?

I have questions about the Portfolio Comparison and Allocation Past Performance page. What should I do?

I have questions about the Contract Details page. Who do I contact?

What if I am having problems with entering allocation details (e.g., selecting benefit options, program options or selecting sub-accounts)?

Who handles issues with the Generate Illustration or Continue Without Illustration buttons?

What happens if an advisor fails the licensing and appointment (L&A) checks during the proposal process?

There are issues with Licensing & Appointment, or I see different colored messages. What do these colors mean?

What if there are no messages or errors in Licensing & Appointment?

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How does L&A Messaging work prior to launching AOE?