Signal Advisors Launches IMO Platform, Streamlines Payment And Servicing

Signal Advisors, an end-to-end financial advisory solution provider, formally announced the launch of a platform that pays annuity commissions in one day.

What Happened?

Detroit-based Signal Advisors' core product portfolio includes licensing and contracting, new business submission, case design, as well as analytics tools.

As part of a vision to further streamline financial advising, Signal Advisors introduced a tech-enabled Independent Marketing Organization (IMO) to distribute annuities and life insurance through a large network of independent financial advisors.

The firm’s new offering allows access to the following capabilities:

• Advanced Commissions: Commissions paid within one-day of application submission.
• No Marketers: Reliance on referrals from agents, forcing offering innovation.
• End-to-end Technology: A one-stop-shop for creating and maintaining relationships.

"Signal Advisors has changed the way we run our business," said Dave Boike, founder of Retirement Resources, a Michigan-based financial planning firm. "For example, I was always moving from carrier website to carrier website to get updated inforce annuity information. The one-click annual review saves our firm about 20 hours per week. I have been in the industry for 30 years, and not seen anything like it."

Why It Matters

The development comes as the COVID-19 coronavirus substantially lengthened advisor payment wait times.

Before the domestic outbreak of COVID-19, Signal Advisors said the average time from application submission to commission payment for advisors was 33 days. During COVID-19, that number rose to 52 days.

The Signal Advisors platform cuts down on wait time, leveraging proprietary management software to advance commissions within hours of application completion.

“In a time when people need commissions faster, they are actually getting paid slower,” said Jacob Cohen, president, and co-founder of Signal Advisors. “If we are really going to reinvent the IMO, we need to reinvent the business model behind the IMO.”

To learn more about Signal Advisors technology, click here.