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As Lau burdened, Orion’s advisors will acquire entry to a complete lineup of commission-free annuities and “best-in-class” life, incapacity and long-term care merchandise. Orion advisors will moreover have direct, built-in entry to DPL’s proprietary instruments for locating and evaluating annuities by sort, advantages and prices. Lastly, knowledge feeds from DPL into the Orion Advisor Know-how platform allow administration of annuity property alongside different investments within the consumer’s portfolio.
A Huge Milestone for DPL
Reflecting on the progress his agency has remodeled the previous 5 years since its founding, Lau stated he was gratified to see the platform cross $1 billion in whole annuity gross sales final 12 months, whereas the mixed property beneath administration of advisors on the platform has crossed $1 trillion. He stated he at all times anticipated to hit these ranges, however not essentially this rapidly.
“These had been each actually cool milestones to have the ability to move in 2023,” Lau stated. “Because it associated to working with Orion, the principle causes advisors have shied away from utilizing annuities on a charge foundation previously have been structural. The precise product codecs didn’t exist and the tech didn’t exist — or the tech didn’t work on their programs or desktops. We’ve been targeted on breaking all that down, and to accomplice with the likes of Orion is vital to reaching the general imaginative and prescient.”
Lau stated the agency goals to proceed to innovate and pursue new integrations in 2024, particularly in the case of bettering advisors’ means to assist annuity purchases at scale.
“Annuities have historically been bought on a person, one-off foundation,” Lau defined. “Purchases have been taken place between one consumer and one dealer. Properly, now we have these mega-RIAs on the market at present that handle many billions of {dollars}, and so they don’t need to open up 10,000 particular person annuities. Similar to in the event you’re promoting an answer on the asset administration facet, you don’t need it to be a person consumer portfolio factor. We all know our options must be scalable.”
Pictured: David Lau
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