Cetera has launched a new insurance portal for its affiliated banks and credit unions that the firm says will make it faster and easier for advisers to find and purchase coverage for their clients.

The platform aims to increase application processing speed, improve case management efficiency for advisers, and create "a more simplified and straightforward experience for both advisers and clients in identifying and purchasing life, long-term care, disability and other forms of insurance," Cetera said in an announcement on Tuesday.

Cetera headquarters
Cetera headquarters

The new portal resides within Cetera's existing SmartWorks adviser workstation and will be incorporated into its MoneyGuidePro financial planning software within the next month.

The rollout of the portal comes as the industry moves to a fiduciary standard and looks to provide broader financial advisory and planning services to clients. It also arrives at a time of lagging life insurance sales.

"We take a great deal of pride in providing industry-leading technology solutions to our affiliated advisers and wealth management programs, reflecting our belief that multiple converging trends are creating a new era in financial advice," LeAnn Rummel, president of Cetera Financial Institutions, said in a statement.

The portal was developed in coordination with Covr Financial Technologies, a technology firm focused on simplifying the insurance-buying experience for consumers.

"By streamlining the previously complex process of finding and purchasing insurance, we and Cetera are helping advisers and clients incorporate risk management tools into their financial plans," Bill Benjamin, CEO of Covr Financial, said.

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