SS&C Technologies Holdings has broadened the insurance lineup within its Black Diamond Wealth Solutions platform, adding term-life quoting and policy review capabilities while welcoming two new carrier partners. The move, announced Wednesday in collaboration with DPL Financial Partners, comes as fee-based annuity adoption among registered investment advisors continues to accelerate.
The expanded Annuities & Insurance Marketplace, or AIM, now includes Jackson National Life Insurance Company and Protective Life Insurance Company, bringing the total number of integrated carriers to seven. They join Allianz Life, MassMutual, Pacific Life, Security Benefit, and Midland National Life Insurance Company. Jackson's participation offers advisors annuities designed specifically for the RIA channel, intended to incorporate tax-deferred growth and protected income into retirement strategies. Protective contributes both annuity and life insurance products aimed at accumulation and protection planning.
Steve Leivent, senior vice president and co-head of SS&C Wealth & Investment Technologies, noted that insurance has historically been a gap in advisors' visibility into client balance sheets. "Advisors can now quote term coverage, conduct in-depth policy reviews, and manage insurance as an advisory asset, all within their existing workflow," he said. The new term-life quoting tool compares rates across A and A+ rated carriers, while the policy review feature flags coverage gaps in clients' existing portfolios. These tools complement AIM's existing suite of fee-based annuities and life, disability, and long-term care insurance.
Jackson and Protective framed the expansion as a response to growing advisor demand. Alison Reed, head of distribution at Jackson, said financial professionals are seeking greater flexibility in retirement preparation, and annuities can play a key role. Lauren Drapeau, vice president and national sales director for advisory solutions at Protective, added that the partnership gives advisors another way to incorporate protection considerations into broader planning conversations.
The updates are part of a series of enhancements SS&C has made to AIM since January, including pre-filled carrier applications, a legacy annuity review tool that converts held-away commission-based contracts into fee-based advisory assets, and expanded scenario-modeling and reporting features. These improvements aim to streamline the process of integrating insurance into advisory workflows.
The expansion aligns with broader industry trends. According to LIMRA, fee-based annuity sales have doubled since 2020, driven by greater adoption among RIAs who benefit from enhanced technology platforms. The record annuity sales in recent quarters underscore the growing appetite for these products. As advisors increasingly seek to manage insurance as part of a holistic client plan, platforms like Black Diamond are positioning themselves to meet that demand.
For RIAs, the ability to quote and review insurance policies within their existing portfolio management system reduces friction and enhances client service. The new tools also support the shift toward fee-based models, where advisors charge a planning fee rather than earning commissions. This trend is reshaping how insurance products are distributed, with technology playing a central role.
SS&C's continued investment in AIM reflects a broader push by fintech providers to integrate insurance into the advisory stack. As demand for planning technology climbs, platforms that offer comprehensive solutions are likely to gain traction. The addition of Jackson and Protective is a clear signal that insurers see the RIA channel as a growth opportunity.
