The Top 5 Reasons Broker-Dealers Should Use FireLight

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As a broker-dealer in today’s rapidly evolving technology landscape, you’ve likely come across FireLight. Some BDs believe that FireLight is a specialized tool, primarily catering to IMOs and BGAs. They even question its ability to cater to their specific needs, deeming it insufficiently powerful.

In reality, these are nothing more than myths. FireLight is the industry’s top sales solution for broker-dealers.

And we’ll tell you why.

Here are the top 5 reasons FireLight isn’t just a good option for BDs—it’s the solution you’ve been searching for to revolutionize your sales technology.

1) FireLight is as robust as they come.

FireLight is the end-to-end sales automation platform from Hexure, a technology vendor that has been in business for nearly 30 years. We are a stable and profitable company, and we make the industry’s most robust and comprehensive sales platform. Hexure is the number one provider of annuity illustration software to carriers. We serve dozens of carriers—including the majority of the industry’s top 25. FireLight supports more than 3,500 products for hundreds of distribution firms, including large broker-dealers and even clearing firms. FireLight was launched 10 years ago and currently processes more annuities than any other annuity order entry platform.

2) FireLight offers maximum order entry flexibility.

Hexure’s FireLight offers both a forms- and a wizard-based user interface (UI). The forms are a dynamic HTML UI that look like a form. This makes it easy for older advisors who are used to looking at forms. Or, for back-office processors who are transferring a form to a digital system to input information. Whether using wizards or forms, the data collected is vetted against robust business rules to ensure a complete in-good-order transaction. Information you input automatically populates later in the process, reducing keying errors and eliminating redundant data entry. All distributor and carrier documents are fully completed, whether using wizards, forms or a combination of both. FireLight has the lowest not-in-good-order (NIGO) rate for carriers among all order entry solutions—between 4% and 10%. Compare this to the industry’s average of 60% NIGO rates for life insurance and annuity applications.

3) FireLight supports broker-dealer suitability needs.

FireLight offers a fully configurable suitability workflow engine. That includes automated scoring for those who choose to use it. Transactions are fully audited with user and time stamps. FireLight delivers all details regarding the transaction to the distributor for long-term storage and audit reporting. The platform supports multiple review queues. It even supports pre-sale suitability, allowing firms to complete broker-dealer forms for review and approval prior to starting an order. All data from the pre-suitability review flows directly into the application and is part of the overall audit trail.

4) FireLight supports variable annuities. And way more.

Hexure’s FireLight solution supports all annuity types, including variable annuities. It also supports more than annuities. FireLight clients use the same core platform to sell annuities, life insurance, long-term care (LTC), disability, mutual funds and even 529 plans.

5) FireLight handles DTCC money settlement.

FireLight supports DTCC e-application submission as well as DTCC money settlement of submitted e-applications for any broker-dealer that supports money settlement. This includes net money settlement.

The Most Powerful, Flexible and Cost-Effective.

There’s more where that came from. FireLight offers additional benefits that appeal directly to broker-dealers, large and small.

  • FireLight offers a low-code/no-code administration solution that allows both carriers and distributors to easily update and modify business and compliance rules and requirements on the fly. No need to wait for scheduled releases. For you, this means incredible speed to market. See a need, make a change and have it in place the next day. You can make changes on your own at no cost, or you can contract us to assist you with updates.
  • FireLight offers a built-in, compliant e-signature solution that each carrier configures and tests for their products. E-signature is included in the transaction for no additional fees. It costs nothing extra to license, integrate, install or configure. An amazing 95% of all e-applications submitted on FireLight are e-signed.
  • FireLight supports the entire sales cycle from needs assessment and pre-sale functions like quoting and illustrations, to e-application. It also offers post-sale support for servicing existing contracts. It is a single end-to-end platform to manage all your sales activities.
  • Hexure does not charge transaction fees to distribution for applications submitted via FireLight. This creates a dramatic cost savings for distribution.

We know how the saying goes, but sometimes the grass is actually greener on the other side. Now is the time to look at FireLight and find out what a modern, robust and scalable financial services sales solution looks like.

Request a demo today or contact our sales team at 719.442.6400.

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