Chuck Failla, Principal of breakaway firm Sovereign Financial Group, discovered the power of DPL's strategic approach to the 1035 exchange process.
PROFILE: When breaking away from his broker-dealer, Chuck Failla needed help transitioning his book of business to his new AUM model. Ensuring his clients had a smooth experience when converting their current annuities to fee-based solutions was essential to the success of his new firm.
SOLUTION: DPL’s Annuity Rescue+ process
OUTCOME: Utilizing the Annuity Comparison Calculator and his dedicated DPL Consultant, Chuck was able to evaluate and identify products that could deliver lower costs and more efficient income for his clients. Chuck currently leverages his DPL membership to deliver greater client value, and as a firm owner, recruit new advisors by helping them make their own transition to independence.
What is Annuity Rescue+?
Annuity Rescue+ is DPL’s approach to a strategic 1035 tax-free exchange of a legacy annuity product for a modern, Commission- Free solution. This process allows advisors to not only reduce costs, but improve benefits and align the annuity to the current goals of the financial plan. If an exchange does not make sense, DPL can help transition the asset via the Breakaway Accelerator Program, allowing advisors to retain control of their client’s annuity.
How to Think About Annuity Rescue+
Organic AUM Growth: By transitioning legacy annuities to advisory-friendly solutions, RIAs can grow firm AUM while helping increase client retention and improving the outcomes of the financial plan.
Improved Benefits: Because product costs are reduced, benefits can be improved. This can help clients access greater levels of protection or guaranteed income with less investment, further preserving the financial plan and portfolio.
Breakaway Support: Access Product Discovery Tools and dedicated insurance professionals to ease the burden of transitioning current clients to new AUM models.
To learn more about Annuity Rescue+, call 877.625.5544 to speak with a DPL Consultant.
Before advising a client to purchase or redeem a variable annuity, clients should be advised to consider the investment objectives, risks, fees, charges and expenses of both the legacy variable annuity and the proposed commission-free annuity and the investment options available with both. Clients should always be advised to read the product’s prospectus or summary prospectus carefully before making a decision to purchase or exchange a variable annuity. ©2023 DPL Financial Partners, LLC. All rights reserved.
