Advisor Revelations

Long-term healthcare expenses are a top concern for many retirees. As people are living longer, and the cost of healthcare continues to skyrocket, addressing these fears is an essential part of an advisor's job.

In this episode, DPL’s Willie Jones talks with DPL Consultant Scott Spurlock. Scott excels at helping firms deliver the best outcomes for their clients and achieve their financial goals too.

Scott shares how Commission-Free Fixed Index annuities (FIAs) can impact a client’s portfolio, specifically when used to help offset some of those long-term care expenses and how this cash flow can give clients more choice over how and where they receive care.

Key Takeaways

[01:43] - How advisors can use fixed income annuities (FIAs) as a bond alternative.

[06:08] - What advisors can do to help clients find peace of mind regarding long-term care, their portfolio, and preservation of assets.

[07:01] - How to fund this strategy using a portion of the client’s bond portfolio.

[12:39] - How to help clients ensure they can choose the type of care they receive and where they receive it.

[13:44] - What tools are available to help advisors implement these strategies?

Making the big transition into a RIA (Registered Investment Advisor) isn’t easy for a firm or its clients, especially given the changing landscape of annuities. But with the right help, that transition can be seamless and beneficial to both with DPL's team and Commission-Free solutions.

In this episode, DPL’s Kameron McRay talks with Spencer Hall, President of Retirement Planning Services in Knoxville, Tennessee. Spencer and RPS’s mission is to equip clients to make wise financial decisions that align their wealth with their values.

Spencer talks with Kameron about the process of transitioning while keeping the focus on the clients’ well-being.

Key Takeaways

[06:50] - How clients can benefit during a period of transition.

[09:20] - Creating better client outcomes equals increased AUM.

[10:50] - Securing retirement income for very conservative investors.

[12:23] - What types of clients can most benefit from multi-year guaranteed annuities.

[13:20] - The evolution of the commission-free annuity marketplace.

[17:14] - What advisors should consider when implementing commission-free insurance and annuities into their firms.

[18:50] - How focusing on our mission as advisors can bring confidence and rest to our clients.

Commission-Free registered index-linked annuities (RILAs), also known as buffer annuities, have become a popular solution to address investor concerns over inflation, market volatility, and the ongoing situation in Ukraine. As 10,000 people retire every day, de-risking the portfolio is becoming a crucial part of an advisor’s job.

In this episode, DPL’s VP of Member Success, Tim Rembowski, speaks with RIA Consultant, Ross McGoodwin, about using RILAs to provide upside potential with a built-in layer of protection, something clients are seeking more and more in the current climate.

Key Takeaways

[02:13] - How advisors can de-risk a client’s portfolio but still provide meaningful returns.

[04:16] - Where RILAs fit between stocks and bonds.

[07:20] - The demographics of clients for whom buffered annuities may be a good fit.

[11:17] - Misconceptions about annuities.

[16:19] - A tool to show client’s the cost savings of RILAs.

[24:13] - Why RILAs can take the stress out of an advisor’s meetings with clients during volatile markets.

[31:15] - RILAs are very customizable.

Transitioning away from a wirehouse? Your new responsibilities as an independent advisor probably feel overwhelming. Needless to say, having someone take the annuity burden off your shoulders is an invaluable help. But you can’t rely on just anyone or anything. You need professionals that take on annuities and data-driven tools to ensure each and every client transitions into the best solution possible.

Introducing the 1035 exchange, a fancy term referring to moving a client’s annuity into a lower-cost option. Plus, DPL’s invaluable annuity comparison calculator that’s along for the ride. While some are hesitant to embrace the 1035 exchange, the work DPL takes on for firms, from the front end to endless paperwork, ensures a seamless transition. And of course, increased revenue for your firm.

Key Takeaways

[00:56] - What a 1035 exchange actually is.

[01:18] - How advisors can discover what annuities exist for their clients.

[03:23] - Why firms are hesitant about going through a 1035 exchange and what DPL does on the front end to ensure a seamless transition.

[05:18] - How DPL tools can be implemented and their top benefits.

[09:40] - How DPL’s annuity comparison calculator analyzes every possible client outcome.

[14:54] - What advisors can expect from the DPL team after using the annuity comparison calculator or other helpful tools.

In this episode, DPL’s Willie Jones chats with Nick Mohlmann and Ross Fedenia of Atlatl Advisers to discuss what “ah-hah moment” prompted their move away from a wirehouse and toward an independent firm, how DPL helped educate the two on Commission-Free solutions, how Atlatl used technology to help their breakaway journey and the invaluable advice they have for advisors struggling to embrace annuities and make the move toward an independent firm.

Learn more at https://www.dplfp.com/series/advisor-revelations-podcast.

Key Takeaways

[00:30] - An introduction to Nick Mohlmann and Ross Fedenia.

[03:21] - What going independent meant for Ross and Nick and what “ah-hah” moment solidified their decision.

[05:37] - What Nick and Ross wish they knew before going independent.

[07:59] - How DPL helped Nick and Ross look at annuity cases and find alternatives to commission-free solutions.

[13:26] - Why DPL’s annuity comparison calculator is so valuable.

[16:41] - What the annuities and the fee-only landscape was like before working with DPL.

[18:06] - Strategies, products, and services Nick and Ross have implemented since working with DPL.

[22:37] - What advice Nick and Ross have for advisors looking to go independent and the top benefits for clients and advisors alike.

[25:58] - What Ross and Nick would say to advisors still on the fence about annuities.

Anytime there’s a change, humans are naturally inclined to reject it. Especially when that change goes against our standard way of thinking. Unless they were in the insurance business, many advisors have advised clients against purchasing products like annuities. More recently, annuities have evolved, and so has their value.

Six months ago, interest rates were already on the rise and the road ahead looked far from promising. To address these rising interest rates, the MYGA (multi-year guaranteed annuity) became a simple solution, and the moment for changing minds on annuities had arrived. With interest rates skyrocketing and planning software backing the product, the value of annuities was simply impossible to ignore. One of Leslie’s advisors even described recommending annuities as his “fiduciary duty.”

Key Takeaways

[00:21] - A brief introduction to Leslie.

[01:24] - How Leslie and her team have successfully addressed rising interest rates.

[03:39] - How Leslie convinced advisors to value annuities.

[06:33] - What Leslie says to advisors who have no faith in insurance companies.

[07:41] - How advisors reframed annuities to their clients after advising against them.

[11:49] - How the shift to embracing annuities has impacted advisors.

[13:01] - Why advisors decided to charge a fee.

[13:59] - How clients responded to the annuity push.

[15:13] - Why the MYGA marketplace is incredibly valuable.

[17:03] - Why there’s a cost to waiting on annuities.

[21:21] - What challenges Leslie’s ready to tackle next.

Like many advisors, Tommy Martin began his career selling insurance. Enrolled in an aggressive sales training program, the constant product push left Tommy turned off to annuities. In fact, when he first entered the IRA space, Tommy swore he’d never touch annuities. Expensive and surrounded by massive surrender penalties, the “A-word” was, for many years, a four-letter word.

Then, something shifted. A professor in the annuities space published an article describing how a major repricing with annuities changed the game entirely. As Tommy considered this point of view, his own perspective on insurance began to change.

Flash forward to 2008. In his early days introducing annuities to the conversation, Tommy had a client insure $1 million of her nest egg. As the market collapsed in ‘08, the client entered Tommy’s office in distress believing she’d lost more than $400,000. Because of that annuity, Tommy quickly pointed out that her safety net balance was still well over $1 million. That one moment of client relief solidified Tommy’s belief in the power of nest egg insurance. As the market dips, those with annuities continue on worry-free.

Key Takeaways

[00:51] - An introduction to Tommy and the origin story of Vestia Personal Wealth Advisors.

[03:10] - How Tommy started his career and why he finally embraced annuities.

[09:25] - What drives the annuity conversation with clients.

[12:15] - The link between annuities and a low-stress retirement.

[14:51] - The emotional side to financial advice.

[17:05] - Why commission-free insurance changes the narrative about annuities, and why Tommy decided to partner with DPL.

[23:56] - When to actually start talking to clients about annuities.

[28:27] - How advisors should start thinking about insurance products.

[30:22] - How working with DPL has enabled Tommy to employ strategies around annuities and ensure overall client success.

[35:57] - How to approach a conversation with clients on annuities.

[44:54] - Why a membership with DPL is worth it.

In this newest episode of Advisor Revelations, hear how this DPL Member is taking retirement planning to a whole new level with Commission-Free annuity solutions, and how his firm is implementing annuities in 401K plans.

DPL's Ross McGoodwin interviews Rob Santos, CEO of Arrowroot Family office, about why Black Diamond firms should leverage DPL and how the Advent Insurance marketplace helps advisors compare annuities and choose Commission-Free solutions for clients.

Listen as DPL's Adrian Redd interviews member, Nola Kulig. She explains why and how she uses Commission-Free annuities to improve fixed income allocations, increase her clients' retirement income, and address long-term care costs.