HomeLife InsuranceDPL Acquires AnnuityFix to Spice up Breakaway Guide Program

DPL Acquires AnnuityFix to Spice up Breakaway Guide Program

What You Want to Know

  • DPL positive aspects a broker-dealer platform in the course of the transaction.
  • The company additionally positive aspects experience in harder-to-transfer annuities and a strategy for fiduciary advisors to consolidate shopper belongings.
  • As a result of annuities are steadily the final asset elegance tethering advisors to their BD, the deal will have to spice up the independence motion, Lau says.

DPL Monetary Companions, a commission-free insurance coverage platform for registered funding advisors, introduced Wednesday that it’s obtaining AnnuityFix and its affiliated broker-dealer, Johnstone Brokerage Services and products.

David Lau, DPL’s founder and CEO, tells ThinkAdvisor the purchase is designed to strengthen the DPL breakaway accelerator program, which permits monetary advisors to transition their legacy annuity industry to a fee-based industry style, enabling many to move impartial.

As a part of the purchase, DPL has appointed AnnuityFix founder Grant Johnstone as leader compliance officer and leader felony officer. The company’s workers will sign up for DPL, in keeping with a observation detailing the purchase.

“Annuities are steadily the final asset elegance tethering advisors to their broker-dealer,” Lau explains. “Since launching our breakaway accelerator program past due final 12 months, we’ve begun running with ratings of breakaway groups and rollups to transition annuity books.”

This enjoy, Lau says, has demonstrated the facility of DPL’s generation and platform, however it additionally lend a hand the company to spot spaces the place its services and products may well be expanded.

“With the accelerator program, we discovered shall we reliably beef up and transition about 70% of the breakaway advisors’ annuity holdings and get them into higher, fee-based merchandise that serve the purchasers’ wishes,” Lau explains. “It was once that final 30% that was once tougher to deal with, however that is precisely what we will do with AnnuityFix’s resolution.”



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