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As Lau careworn, Orion’s advisors will achieve entry to a complete lineup of commission-free annuities and “best-in-class” life, incapacity and long-term care merchandise. Orion advisors will moreover have direct, built-in entry to DPL’s proprietary instruments for locating and evaluating annuities by kind, advantages and prices. Lastly, knowledge feeds from DPL into the Orion Advisor Expertise platform allow administration of annuity property alongside different investments within the shopper’s portfolio.
A Large Milestone for DPL
Reflecting on the progress his agency has revamped the previous 5 years since its founding, Lau mentioned he was gratified to see the platform cross $1 billion in complete annuity gross sales final 12 months, whereas the mixed property beneath administration of advisors on the platform has crossed $1 trillion. He mentioned he all the time anticipated to hit these ranges, however not essentially this shortly.
“These had been each actually cool milestones to have the ability to cross in 2023,” Lau mentioned. “Because it associated to working with Orion, the primary causes advisors have shied away from utilizing annuities on a charge foundation up to now have been structural. The fitting product codecs didn’t exist and the tech didn’t exist — or the tech didn’t work on their techniques or desktops. We’ve been centered on breaking all that down, and to accomplice with the likes of Orion is essential to reaching the general imaginative and prescient.”
Lau mentioned the agency goals to proceed to innovate and pursue new integrations in 2024, particularly in relation to bettering advisors’ potential to assist annuity purchases at scale.
“Annuities have historically been bought on a person, one-off foundation,” Lau defined. “Purchases have been taken place between one shopper and one dealer. Properly, we’ve got these mega-RIAs on the market at this time that handle many billions of {dollars}, and so they don’t wish to open up 10,000 particular person annuities. Identical to in case you’re promoting an answer on the asset administration facet, you don’t need it to be a person shopper portfolio factor. We all know our options must be scalable.”
Pictured: David Lau
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