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DPL Set to Distribute Corebridge Financial Annuities

News November 16, 2022 at 02:47 PM
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DPL Financial Partners has announced the addition of Corebridge Financial to its carrier lineup.

Corebridge brings two commission-free annuity products to the DPL platform, both geared to fee-only financial advisors.

Corebridge, formerly AIG Life & Retirement, provides a range of retirement solutions and insurance products. With the new DPL partnership, the firm's annuity solutions will be available to registered investment advisors seeking commission-free products for their clients.

DPL Founder and CEO David Lau says the addition of the Corebridge annuity products to the platform will help to address the unique needs of fee-only financial advisors.

As fiduciaries, RIAs are generally unable to accept the commissions insurance companies typically pay advisors for selling annuity products. Recognizing this issue, platform providers like DPL are creating new forms of annuity distribution that allow these advisors to incorporate annuities into their practices and receive compensation from fiduciary clients as part of their advisory fee.

The Corebridge offerings now available on the DPL platform are the Assured Edge Advisory fixed annuity and the Power Index Advisory index annuity. According to a DPL press release, both are designed to help protect clients' portfolios, more effectively manage today's retirement risks and help improve retirement outcomes.

As part of the partnership, Corebridge has created a website to help RIAs understand how annuity solutions can fit into their client service process and business model.

Todd Solash, president of individual retirement and life insurance at Corebridge Financial, says his firm recognizes that RIAs value "both process and product." He adds that the partnership with DPL is part of the firm's effort to deliver a "seamless" annuity investment experience for RIAs who recognize annuities as a powerful planning option for clients seeking to build more assets and protect their income for life.

The new partnership between Corebridge and DPL is being launched a little more than two months after American International Group formally split from Corebridge Financial — a move that it began talking about in October 2020. Previously, AIG Life & Retirement distributed some of its own products via the DPL platform.

Pictured: DPL Founder and CEO David Lau 

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