HARTFORD, Conn., Oct. 16, 2020 (GLOBE NEWSWIRE) -- WealthConductor LLC, a FinTech company that arms enterprise, financial advisor and individual clients with an integrated retirement planning software called IncomeConductor, today officially launched a new partnership with Varney Agency, a leading full-service, independent insurance agency, designed to provide financial professionals with exclusive premium credits on their Error & Omissions (“E&O”) and Cyber Liability policies, essential insurance policies which protect advisors from claims of inadequate or negligent work, data breaches, and legal costs associated with both.
The premium credits, which are available to both broker dealers and financial advisors who work with Varney Agency, is the first such premium to be offered to users of a technology solution such as IncomeConductor. IncomeConductor’s emphasis on compliance provides complete transparency between the advisor and the client, leading to the FinTech being seen by insurance providers as a way to reduce business risk for an advisor and their firm - a key determinant for receiving premium insurance credits. For advisors looking to reduce risk, IncomeConductor provides three clear benefits:
- Customized written retirement plan. Advisors are able to create a customized written retirement plan in real-time with their clients and make critical adjustments along the way.
- Daily tracking and management. The customized plan is tracked on a daily basis and managed throughout retirement, ensuring the client knows exactly what is happening with their plan at all times.
- Client transparency and approvals. Each step of the planning process is documented and approved by the client, offering a completely transparent process. This transparency protects the client from unnecessary risks and the advisor and firm from costly litigation.
“It’s truly an honor for IncomeConductor to be seen by insurance carriers as a risk-reducing tool for advisors and their firms who want to provide a better solution for planning and supporting their clients’ retirements,” said Sheryl O’Connor, co-founder & CEO of IncomeConductor. “We’re excited to be working with the Varney Agency team to offer this unique discount to advisors on such an important part of their business. Advisors will benefit not only from the premium credits, but the ability to give their clients the retirements they deserve.”
“The investment industry is unique in its professional and cyber exposures with highly regulated standards, as well as access to very pertinent client information,” said Nicholas Weiner, AVP - Program Executive at Varney Agency. “Our partnership with IncomeConductor will address the coverage needs of the industry and help each firm leverage their relationships to secure customized insurance solutions specific to their needs!”
For more information about the premium credits and the partnership, IncomeConductor and Varney Agency will be hosting a live webinar on Thursday, October 22, 2020 to educate advisors on how they can plan for their clients’ retirements while also saving money on their E&O and Cyber Liability insurance policies. Register today.
About WealthConductor LLC
WealthConductor LLC was co-founded in 2017 by CEO Sheryl O’Connor along with partners Phil Lubinski and Tom O’Connor to develop retirement planning software called IncomeConductor focused on the advisor space. The company is passionate about providing an income distribution strategy that serves the needs of enterprise firms, financial advisors and individuals in meeting the challenges they face. Our revolutionary retirement income software provides a complete suite of support to financial advisors who want to re-define their value proposition as retirement income professionals and provide a time-tested income distribution strategy to their clients that is completely customized to their individual needs and goals. We partner with our community of advisors to continuously enhance our technology and supporting program to help them succeed in the income distribution market. For more information, please visit https://incomeconductor.com/
About Varney Agency
In 1980, Bill Varney opened Varney Agency operating from a single desk in his auto parts warehouse representing one company. During the past three decades, Varney Agency has grown to 24 full-service locations representing over 50 insurance companies offering home, auto, life, health and business insurance including professional and cyber liability for the financial services industry.
With a commitment to excellence, Varney Agency employees are driven toward protecting what is important to their customers. Local, knowledgeable and friendly insurance professionals are the core of this family owned and operated business. For more information, please visit http://varneyagency.com/
Media Contact
John Stavinga
610-212-8515
jstavinga@wearecsg.com
Advisor Contact
Tom O’Connor
860-969-3671
toconnor@wealthconductor.com
Varney Agency Contact
Nicholas Weiner
207-809-9067
nweiner@varneyagency.com