Advisor Revelations

The shift towards advisory fees in the annuity industry has transformed the way advisors approach their business. No longer bound by the limitations of traditional compensation models, financial professionals have embraced a new era of flexibility and client-centricity. With fee-friendly solutions and cutting-edge platforms, advisors can enhance their own practices while providing exceptional financial guidance to their clients.

In this episode, Ross McGoodwin talks with DPL's Regional Vice President of Member Success, Blake Phillips. Prior to joining DPL, Blake was a financial representative with New York Life. He is passionate about helping member firms create the best possible outcomes for their clients while organically growing their AUM and utilizing DPL's commission-free insurance platform.

Blake talks to Ross about the evolution of advisory fees in the annuity industry and within DPL, the advantages of taking the fee directly from the product, and how DPL provides a seamless administration process and support when integrating all assets into one place.

Key Takeaways

• [01:26] - How advisory fees have changed over time.
• [03:29] - How advisors charge advisory fees on annuities and insurance products.
• [05:36] - The billing on lifetime income products.
• [07:43] - The advantages of taking the fee directly from the product.
• [09:24] - How advisors transition from broker-dealer fees to an advisory fee model.
• [11:39] - How DPL provides a seamless administration process and support.

The intersection of technology and innovation plays a pivotal role in shaping management platforms for RIAs. DPL recognizes that members and advisors are key to these technological advancements.

In this episode, DPL RVP of Membership Success, Kameron McRay talks with Sam Johnson, VP of Business Development of DPL. Sam is knowledgeable in the ways Commission-Free insurance can be used to deliver value to investors. Sam has over seven years of experience working in the insurance industry, primarily on the RIA channel. At DPL, Sam focuses on carrier partner relationships. He works with existing and onboarding new carriers to get them to understand the DPL business model.

Sam talks to Kameron about how members and advisors impact product and technology innovation at DPL, how working with DPL varies from working with carriers directly, and what business development has in store for the future.

Key Takeaways

• [00:58] - The role Sam plays at DPL.
• [02:27] - How DPL has grown from a business development perspective.
• [05:04] - Advisors benefit from partnering with DPL.
• [07:04] - Why the staying power of members can help carriers create new products.
• [09:07] - How feedback plays a key role in developing DPL's products and solutions.
• [12:19] - What the DPL business model looks like.
• [14:46] - What business development has in store for the future.

As economic landscapes fluctuate and tax regulations evolve, ensuring clients' financial health requires more than conventional approaches. It demands a comprehensive understanding of their unique needs, a deep-rooted commitment to relationship management, and the ability to leverage innovative strategies. By shifting the emphasis from transactions to relationships, advisors find a win-win scenario where client satisfaction and business growth flourish hand in hand.

In this episode, Ross McGoodwin talks with Brock Eson, Independent Financial Advisor at RFG Advisory. Brock chose to become a financial advisor because he understood how confusing and difficult it was for the average person to be armed with the information to handle financial decisions well. Today, Brock enjoys aiding others in planning for their current and future financial health.

Brock talks with Ross about how an advisor can take advantage of creative tax and income strategies using commission-free solutions in today's fluctuating market and how he transitioned his legacy annuity contracts and clients' mindset to the RIA practice. Brock also shares his strategies for addressing collapsing life insurance policies and matching clients with fee-based retirement solutions.

Key Takeaways

• [01:21] - Brock's career background and why he joined RFG Advisory.
• [03:14] - What motivated Brock to transition into the RIA industry?
• [05:37] - What Brock discovered when he made the transition into RIA.
• [07:44] - Why advisor annuities make a great solution for clients and advisors.
• [09:49] - Why guaranteed income and buffer annuities are effective for clients.
• [12:24] - Brock's unique strategies for coping with collapsing life insurance policies.
• [15:59] - Other strategies that stand out in the annuity sector.
• [17:36] - How DPL makes RFG Advisory's practice more repeatable and scalable.
• [21:13] - The benefits of DPL membership for RFG Advisory.

Traditional retirement plans, like 401Ks, are undoubtedly valuable instruments for accumulating savings, typically offering lower-cost fund options. However, their inherent limitations can restrict the full range of options available for retirees to build an optimal income strategy. As a result, it becomes imperative for advisors and their clients to explore alternative avenues to address the income gap more comprehensively.

In this episode, DPL Lead RIA Consultant Leslie Grant talks with John Watson, Internal Sales Consultant at DPL Financial Partners. John brings 25+ years of industry experience and annuity wholesaling to DPL. John believes in holistic financial planning, especially when it comes to managed assets, annuities, income, and protection strategies.

With a strong annuity and insurance background, John talks to Leslie about utilizing deferred income strategies to capture assets for clients heading into retirement and the efficiency these solutions and strategies can provide to advisors and client portfolios.

Key Takeaways

• [01:06] - What deferred income is and why it is an area of opportunity for advisors and their clients.
• [02:08] - How to maximize cash flow allocated to a deferred income strategy.
• [03:26] - Strategies advisors use to evaluate deferred income situations.
• [07:53] - How RISA helps advisors achieve success for their clients.
• [09:28] - Why investors need to source retirement income from qualified accounts.
• [13:16] - John's approach to discussing the early funding process with clients.
• [17:24] - How annuities can help advisors retain and grow their businesses.
• [21:08] - What role can lifetime income play in resolving future challenges?
• [24:51] - How an annuity can benefit a portfolio with 8% annualized returns and fixed income.

Research from leading academic, Wade Pfau, shows that many people really like annuities and want to use them in their retirement portfolio. Learn how Commission-Free annuities can provide clients peace of mind and permission to spend during retirement.

Key Takeaways

• [:40] - How annuities provide peace of mind.
• [2:19] - How do you find a "good" annuity?
• [5:39] - How exposed is your lifestyle to the market?
• [13:19] - How Commission-Free annuities can save clients money.

When it comes to annuity solutions, the prevalent approach often involves pre-packaged options rather than focusing on clients' individual needs. This misalignment between generic solutions and client preferences can result in significant financial implications for clients. In this regard, RISA (Retirement Income Style Awareness) has proven to be a game-changer. By utilizing this innovative tool, advisors can gain invaluable insights into their client's needs, enabling them to deliver personalized recommendations that can significantly impact clients' financial well-being.

In this episode, DPL's Jackson Bradley talks with Joe Flinner, CEO and Lead Wealth Advisor at Landing Point Financial. Joe has been in the financial services industry for 24 years. He and the team currently manage wealth for families, focusing on multi-generational planning. The foundation of Joe and his team is to be a blessing to clients, advisors, staff, and communities.

Dedicated to providing personalized, targeted financial advice to help individuals reach their unique goals, Joe talks to Jackson about how advisors can use the Retirement Income Style Awareness profile or RISA as a competitive advantage with prospective clients to identify their unique retirement income preferences.

Key Takeaways

• [01:15] - Joe's career background and how Landing Point serves its clients.
• [02:34] - How Joe came across the RISA tool.
• [02:54] - What drew Joe to RISA and how he found success with the tool.
• [03:52] - How Joe integrates RISA into his prospecting and onboarding process.
• [04:53] - The results of Joe's use of RISA.
• [06:28] - How RISA provides Joe with a competitive advantage.
• [08:00] - The impact DPL had on Landing Point Financial.

The emergence of digital platforms and new technologies has transformed the way advisory firms operate and serve their clients. This shift has not only made it easier for advisors to streamline their workflows and improve their efficiency but also enabled them to provide better services to their clients.

In this episode, DPL's Regional VP Ross McGoodwin talks with Martin Nitzken, Membership Consultant at DPL Financial Partners. Before joining DPL, Martin worked in orthopedics, where he discovered his passion for improving personal health and security. Pivoting to the financial sector, he has joined DPL to assist member firms in organically growing their AUM while implementing greater outcomes for their clients.

With DPL Membership being a game-changer for clients and advisory firms, Ross and Martin talk about how advisors can take advantage of the membership to access cutting-edge tools and technology to grow their firms.

Key Takeaways

• [01:20] - An overview of Martin's role at DPL.
• [04:02] - How Martin helps advisors provide a holistic service to their clients.
• [06:39] - How advisors can use the DPL platform to grow their Assets Under Management (AUM).
• [07:54] - What growth looks like for firms using the DPL platform.
• [09:16] - How the AIM's Breakaway Accelerator Program works.
• [11:49] - How DPL leverages technology to help advisors.
• [15:42] - What Black Diamond and DPL's partnership looks like.
• [18:08] - How advisors use Retirement Income Style Awareness (RISA) in their planning process.
• [19:28] - How DPL has changed its approach to life insurance.
• [21:04] - The typical journey for anyone who wants to join DPL.
• [23:43] - What makes DPL membership a good opportunity for 2023?
• [25:50] - The current state of guaranteed income.

Scaling a business is not an easy task, and advisors often find themselves stretched thin as they try to manage various processes and functions. However, by seamlessly connecting different software and systems, businesses can scale more efficiently and effectively, save time, reduce errors, and ultimately grow faster. What platform can advisors use to streamline their operations, optimize their workflows, and unlock new levels of growth?

In this episode, Jonathan talks with Avior Wealth Management's Wealth Advisor and the Director of Firm Development, Ryan McQuillan and Britt Campbell, Managing Director. Ryan began his journey in financial services at age 19 after taking a personal financial planning course in college. After spending nearly a decade as a field leader and director at a major financial institution, he decided to join Avior Wealth Management. Britt's story began in Nebraska where both sides of his family built their own businesses. Over the past two decades, Britt has helped people make money decisions aligned with their true purpose.

Recognizing the power of integration and automation in scaling businesses, Ryan and Britt talk about how firms can leverage the Advent Insurance Marketplace powered by DPL to grow their practice and help clients find the best commission-free solutions to fit their retirement needs.

Key Takeaways

• [01:32] - The role Ryan and Britt play at Avior Wealth Management.
• [04:33] - Why Avior decided to use the Advent Insurance Marketplace by DPL.
• [09:29] - What Ryan finds valuable about the integration of DPL and Avior.
• [12:52] - The benefits of working with AIM's Breakaway Accelerator Program.
• [16:54] - An example of how Avior was able to leverage DPL effectively for a client.
• [19:41] - What it means for RIAs to have DPL as a resource.
• [23:59] - What Ryan and Britt have to say about their partnership with Advent Insurance Marketplace.
• [27:44] - The advice Ryan and Britt have for advisors planning to scale their practices.

Avior Wealth Management, LLC is a SEC registered investment advisor who provides investment management and financial planning services to client. Avior partners with DPL to provide insurance solutions to clients. Avior is not compensated by DPL for recommending their services but is compensated by clients on the overall financial investments of clients for which Avior manages.

As retirement approaches, many individuals begin to consider their income streams for the future. While traditional retirement strategies often rely on pensions, Social Security, and personal savings, there are alternative approaches to ensure a more stable income stream throughout their retirement years.

In this episode, Jonathan talks with Leslie Grant, Lead RIA Consultant at DPL Financial Partners. Prior to working at DPL, Leslie spent five years working for a prominent insurance carrier and four years with a boutique investment manager. Her comprehensive understanding of product construction, the insurance industry at-large, and her belief that all clients could benefit from the opportunity to retire with security shows in her work.

Committed to helping Americans navigate and manage change in retirement, Leslie talks with Jonathan about alternative retirement income strategies. They dig deep into the unique ways to fund and diversify retirement income and what advisors can do specifically around pension buyouts.

Key Takeaways

• [01:38] - Leslie's conversation with advisors about funding retirement income.
• [05:39] - How retirees can maximize their retirement income.
• [08:31] - Other rollover opportunities and unique ways advisors manage assets.
• [14:26] - The impact of rising interest rates on FIAs and RILAs.
• [18:08] - What the rising interest rate environment means for MYGAs.

Wealth management has undergone a significant transformation in recent years. As a result, many financial advisors have decided to break away from traditional brokerage firms and establish their own independent practices. While the benefits of running a practice can be numerous, the transition can also come with its fair share of challenges, particularly when managing annuity assets.

In this episode, Jonathan talks with Matthew Liebman, Founding Partner and CEO at Amplius Wealth Advisors. Before founding Amplius Wealth Advisors, Matthew co-led The Liebman Marks Group at Merrill Lynch for 13 years. With his education and background in asset allocation theory and behavioral finance, Matthew has experience with high-net-worth families and provides a unique approach to guiding clients toward their financial goals.

Dedicated to putting clients at the center of everything Amplius Wealth Advisors does, Matthew talks about his experience of using DPL's Breakaway Accelerator Program to transition their existing annuity book, avoiding orphaned accounts, and bringing those assets under their management as they move to become an independent financial advisor.

Key Takeaways

[01:30] - Matthew's professional background and his role at Amplius Wealth Advisors.

[04:23] - Why Matthew decided to become independent.

[06:51] -The role DPL played in Matthew's transition to independence.

[09:41] - How Amplius works with DPL on annuity analysis.

[12:33] - The benefits of integrating annuities into portfolio management software.

[15:35] - Matthew's advice for advisors thinking about becoming independent.

[18:09] - Matthew's key takeaways.