[ad_1]
Wealthtech firm Orion Advisor Options has expanded its partnership with DPL Monetary Companions, an insurance coverage administration platform for registered funding advisors, to supply direct entry to DPL’s commission-free annuity market, Product Discovery Instruments, and its workforce of licensed insurance coverage consultants.
New to the mixing is a single sign-on and full direct entry for fee-based advisors utilizing the Orion Advisor Expertise platform.
Advisors on Orion’s platform with a DPL membership can evaluate annuities by kind, advantages and prices utilizing DPL’s proprietary instruments, bringing knowledge feeds instantly into the Orion platform.
When the 2 companies initially built-in in November 2021, advisors had entry to a restricted knowledge feed into Orion.
Advisors also can extra simply handle annuity belongings alongside different investments in consumer portfolios.
Along with a selection of commission-free annuities, advisors can discover life, incapacity and long-term care merchandise for his or her purchasers on {the marketplace}.
DPL founder and CEO David Lau mentioned the timing and expertise had been proper to see fee-based annuities take off amongst fiduciary RIAs. However he mentioned he had no real interest in promoting to any of the big insurance coverage carriers.
“I need to personal fee-based annuity distribution,” he mentioned.
“If you concentrate on the advisory world, every part is fee-based. They didn’t simply determine on their very own to maneuver from commissions to charges,” he mentioned, rattling off a listing of many massive monetary providers firms that initiated the shift.
DPL’s digital product catalog can at the moment mannequin over 3,200 annuities and over 100,000 riders.
Along with serving to an advisor finest match an annuity to a consumer’s present state of affairs, the platform’s comparability engine also can assist advisors working with current annuity holders.
“The platform is problem-centric, not product-centric,” he mentioned, that means that if a consumer’s present product just isn’t assembly their expectations or wants, it may be in comparison with others available on the market primarily based on many alternative parameters.
In accordance with the agency, greater than 5,500 RIA companies have entry to DPL both by direct membership or by partnerships with wealth administration platforms.
And Orion just isn’t the primary such platform to associate with DPL.
Wealth administration platform supplier Black Diamond, owned by SS&C Applied sciences, launched its personal insurance coverage market for RIAs in partnership with DPL in fall 2021.
That endeavor was extremely built-in with the Black Diamond Wealth Platform and allowed for comparable searches and comparisons; 100 RIA companies had piloted it throughout its improvement section, which started a yr earlier than.
As for value, companies pay DPL a membership payment that varies relying on AUM, with reductions for multi-year memberships. Charges begin at $1,000 per yr, and it’s per agency, not per seat, a DPL spokesperson mentioned. It allows all advisors to entry DPL’s product market, instruments, digital software and contract administration platform, in addition to the corporate’s workforce of insurance-licensed consultants.
[ad_2]
