Firm doubles sales in 14 months as advisor adoption of no-load solutions accelerates
LOUISVILLE, KY — DPL Financial Partners, the leading platform for commission-free annuities, today announced that it has crossed $2 billion in sales of no-load annuity products. The milestone, spurred by growing adoption among both longtime fee-only advisors and “breakaway” advisors transitioning from brokerage to a fiduciary practice, comes just over one year after the company hit $1 billion in annuity purchases in 2022.
“It took us three and a half years to reach $1 billion in sales, so doubling that in fourteen months is very rewarding,” said DPL Founder and CEO David Lau. “We’ve seen an acceleration in use among RIAs who have been in business for years but now are experiencing the positive impact commission-free annuities can have on both client outcomes and growth of their practices; that message was clear in this year’s member survey. And, adding fuel to this year’s growth was our Breakaway Accelerator Program, which provides a seamless path for advisors who are leaving their broker-dealers to transition their annuity business from commission products to fee-based.”
DPL’s growth is driven by three categories of users: RIAs adopting fee-based products, breakaways transitioning to a fee-based model, and consumers.
Lau noted that individual investors seeking value-driven retirement income solutions are finding their way to DPL, with year-over-year sales more than tripling from inbound consumer inquiries. He said he expects the growth of the consumer channel to accelerate as DPL expands its services in response to the demands of this market.
DPL provides an end-to-end digital experience that includes a suite of proprietary Product Discovery Tools, product education, and more than 60 commission-free annuities and a range of best-in-class insurance solutions from 20+ carriers. DPL’s advisor user base now tops 5,500 RIA firms that have access to the commission-free annuity and insurance platform either directly or through integrations with SS&C Advent’s Black Diamond and other wealth management platforms.
About DPL Financial Partners
DPL Financial Partners is the leading commission-free annuity marketplace bringing best-in-class solutions from the nation's top carriers to registered investment advisors (RIAs), their clients and consumers. DPL's commission-free products, proprietary tools and embedded technology enable RIAs to incorporate insurance and annuities into their practices to more holistically serve their clients. Clients benefit from products that offer competitive pricing and transparent, fiduciary implementation to meet a range of needs in the financial plan. www.dplfp.com