Firm details additional growth milestones including hires, new carrier partners
LOUISVILLE, KY, November 20, 2019 /24-7PressRelease/ — DPL Financial Partners (“DPL”), the leading insurance network for registered investment advisors (“RIAs”), announced the addition of its 300th RIA member firm and the creation of a new membership category that lets firms join the network as “lifetime members.” Additionally, DPL announced plans to hire a dozen more professionals by year end to support its expanded client base and maintain the strong growth trajectory.
“Certainly, 300 member firms is a fantastic milestone for our company,” said DPL Founder & CEO David Lau. “We are just as excited, though, that our members are seeing the impact commission-free insurance has on their ability to meet their clients’ needs, grow share of wallet and differentiate their practices. Access to low-cost guaranteed income products is helping them expand services and stay relevant as more and more of their clients shift from wealth accumulation to wealth distribution.”
DPL’s 300 member firms collectively represent more than 2,600 individual advisors who work with an estimated 320,000 households with combined assets under advisement of $130 billion. RIA members range in size from boutique practices with less than $50 million in assets to large, nationally recognized firms with hundreds of advisors and billions in assets. The firm surpassed the 200th member firm mark just last April.
“The insurance piece has been missing from the RIAs’ solution set,” said Aaron Jasper, CEO of Mutual Advisors, the 300th firm to join DPL. “As the industry continues to move toward a fee-based advice model, our goal is to give advisors a full suite of capabilities that empowers them to bring a fiduciary approach to both the investment and insurance sides of the business. We are excited about our partnership with DPL because it enables us to roll out insurance solutions for our forward-thinking advisors that align with their philosophy and with where the industry is going.”
Another new member, Steve Henry of CSH Investment Management, was so enthusiastic about DPL’s offering that he proposed a lifetime membership for his firm: “I’ve been looking for a fee-based insurance solution for the last decade,” he explained. “Until now, there was nowhere for RIAs to get answers about insurance and I’ve had to feel my way around the industry. DPL is a one-stop solution. Becoming a lifetime member seemed like a no-brainer.”
DPL members typically join the network on an annual renewal basis, but based on Henry’s suggestion, the firm is currently rolling out the lifetime membership option.
In addition to its growing member ranks, DPL announced a number of additional operational developments and growth milestones:
• The hiring of 12 new professionals by the end of the year, which will bring DPL’s total headcount to 40, with just over half of the DPL team comprised of client-facing consultants
• Completion of its move into new office space in Louisville, Ky., with four times the space of its previous location to accommodate its current staff and allow for additional personnel growth
• The development of additional proprietary tools for DPL members
• The addition of five new insurance carrier partners so far this year, bringing the total number of carriers on the platform to 17 and the number of commission-free annuity and life products to 31
• Industry recognition with the firm’s selection as a finalist in the Insurance Service category by the 2019 Wealth Management Industry Awards
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 practices to more holistically serve their clients and grow their business. DPL offers a full suite of no-load life and annuity products. dplfp.com
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