NEW YORK, N.Y., Sept. 18, 2020 (SEND2PRESS NEWSWIRE) — Fiduciary Insurance Services, LLC (FIS) announces its launch today as a provider of strategic consulting, insurance advice, and investment advice, on an hourly or retainer basis, to financial institutions seeking to participate in a growing trend for insurance distributed via fiduciaries.

Michelle Richter, Principal, Fiduciary Insurance Services
PHOTO CAPTION: Michelle Richter, Principal, Fiduciary Insurance Services, LLC.

“Insurance has always been provided through the sale of a product,” says Michelle Richter, FIS founder. “But product selling does not mesh well with the fiduciary advice community, which comprises a growing proportion of the financial professional population.”

According to Richter, “Few new insurance ideas make it to market, for two reasons. First, it’s expensive to launch and wholesale a new category of product. Second, there’s a mistaken notion that the sale of risk protections should be completed by insurance agents only in isolation from broader planning and wealth management decisions.”

“Programs, as distinct from products,” Richter added, “can be deployed as service mark-able, tech-enabled frameworks. They can systematically and responsibly weave together, or provide metrics that allow the adviser to combine, existing insurance and investment products in ways that improve on existing silo-ed product sale frameworks.”

FIS is currently exploring five (5) program constructs spanning several arenas:

  • Institutional annuity/managed accounts
  • Structured annuity/long term care combos
  • Retail life insurance in investment advice
  • Other institutional risk-pooling arenas
  • FIS seeks to provide advocacy, business plan creation, and program design services to insurers, recordkeepers, and other financial institutions for use with their advisers and clients

In strategic consulting and business operating roles, Richter has demonstrated expertise in the integration of wealth management, life insurance, annuities, and asset management concepts, for retail and institutional businesses.

Richter has a proven track record launching new businesses and re-engineering existing operations at a Fortune 100 life insurer. She managed a $27 million operating budget and team of 70 experts in product management, marketing, operations, compliance, wholesaling/distribution, and training, prior to her foray into motherhood in 2010. Richter is also a named inventor on a patented method for insurance investment product decision modeling, and is an advisor member of the Institutional Retirement Income Council.

Richter has earned a bachelor’s degree in Economics from Wesleyan University, and an MBA in Management and Finance from Columbia University’s Graduate School of Business. Richter is an investment adviser, and she holds an insurance consulting license in New York.

For more information about services offered by FIS, please contact Michelle Richter at (347) 871-0823. Email:, or visit

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*Caption: Michelle Richter, Principal, Fiduciary Insurance Services, LLC.

News Source: Fiduciary Insurance Services LLC