Large RIA, Strategic Financial Services, and Laura Powers utilized DPL's Annuity Rescue+ process when breaking away from their broker-dealer.
PROFILE: When Strategic Financial Services decided to break away from its broker-dealer, Laura needed help evaluating her firm’s 200+ annuities to bring them into their new AUM model.
SOLUTION: DPL’s Annuity Rescue+ process
OUTCOME: Working with her DPL Consultant and DPL’s Annuity Comparison Calculator, Strategic Financial Services efficiently evaluated more than 200 annuities, and DPL provided recommendations for each one. In almost every instance, the firm managed to reduce costs while improving benefits for her clients.
For annuities that didn’t make sense to exchange, Laura used DPL’s Agent of Record service to retain control of the assets, remove the broker-dealer and provide her clients with a greater level of service.
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 DPL’s 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.
Tax-Deferral: Instead of liquidating the annuity and creating a taxable event, a 1035 exchange to a new annuity preserves the tax-deferred status, and the assets can be redeployed to better fit 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.
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. FOR REGISTERED INVESTMENT ADVISOR USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
