Commission-Free Insurance network for RIAs shows momentum in other key areas of the business, projected to reach 500 members by year-end
LOUISVILLE, KY, March 20, 2019 /24-7PressRelease/ — DPL Financial Partners (“DPL”), the leading insurance network for registered investment advisors (“RIAs”), announced the addition of its 200th RIA member firm roughly one year after launch. DPL is currently signing up new members at a rate of more than one per day, putting it on track to reach 500 member firms by year end.
“The enthusiastic response from the RIA community to DPL’s mission and offering has been tremendously gratifying,” said CEO and Founder David Lau. “Reaching 200 members so quickly confirms what we’ve been hearing from advisors across the county—fiduciaries want to be involved in their clients’ insurance but need access to products without commissions and education about how to use them in the financial plan. One year after launching, DPL continues to build momentum across the business that will allow us to scale to reach more RIAs, and add additional carriers who are looking to serve this growing market with products and services.”
DPL’s 200 member firms collectively represent more than 1,800 individual advisors covering an estimated 160,000 households with combined assets under advisement of more than $100 billion. RIA member firms range in size from boutiques with less than $50 million in assets to large, nationally-recognized firms with hundreds of advisors and more than $10 billion in assets.
In addition to its growing membership, DPL announced a number of operational developments and growth milestones:
• Completion of a buildout of new office space at 1906 Stanley Gault Parkway in Louisville to accommodate its current staff and planned personnel growth.
• Hiring plans for an additional 15 people, with an emphasis on technology and operational support. The new hires will bring DPL’s total headcount to 40, with about half of the total staff comprised of advisor-facing consultants.
• The addition of 2 new insurance carrier partners so far this year bringing the total number of carriers on the platform to 12 and the number of Commission-Free Insurance products to 25. DPL plans to add another 4-6 carriers to the platform by the end of the year.
• The launch of a new website (www.dplfp.com) last month that includes a rich library of content to help RIAs integrate insurance into their practices and an interactive guaranteed income calculator to help advisors evaluate retirement income solutions for their clients. Additional content and features, including additional calculators and a dashboard for member firms, will be rolled out throughout the summer.
About DPL Financial Partners
DPL Financial Partners is the leading RIA insurance network that brings low-cost, commission-free insurance solutions from a variety of the nation’s top carriers to RIA practices. DPL’s mission is to create a marketplace of no-load insurance products that enables RIAs to incorporate insurance into their practice to more holistically serve their clients. Clients benefit from products with improved pricing and fiduciary implementation of products rather than a commissioned, sales-driven one. www.dplfp.com
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