DPL Financial Partners and Orion Advisor Solutions announced Tuesday an expanded partnership that will build upon the firms' existing integrations to provide Orion's fee-based financial advisors with direct access DPL's marketplace of commission-free annuities, product discovery tools and support from licensed insurance consultants.
Speaking with ThinkAdvisor about the new integration, DPL Founder and CEO David Lau said the advisory marketplace is quickly coming to see the appeal of commission-free annuities and income insurance solutions. Adding these tools is critical for fiduciary advisors who want to serve the holistic needs of their clients and grow their practices, he said.
"Orion is a home base for thousands of advisors and, through this partnership, they now can directly access annuity and insurance solutions to meet needs in the financial plan," Lau explained. "Access to annuities means advisors can strengthen client relationships and scale their business as part of their fiduciary process and existing workflow."
A More Holistic Focus
Lau shared these insights a few weeks after Orion senior leaders Natalie Wolfsen, the firm's CEO, and Brian McLaughlin, president of Orion Advisor Technology, spoke with ThinkAdvisor about the importance of supporting advisors in retirement income planning and insurance. They emphasized the need to provide support for advisors beyond the traditional aspects of investment management, especially when it comes to retirement-focused clients.
Quoted in the new partnership announcement, McLaughlin said Orion is excited to provide its advisors with access to insurance products.
"In an increasingly competitive advisory environment, advisors have told us that bringing their clients' insurance under the fiduciary umbrella will help to differentiate their firm and offering," McLaughlin said.
