T3/Inside Information Survey points to continued growth in market share, advisor interest
LOUISVILLE, KY, March 28, 2023 /24-7PressRelease/ — DPL Financial Partners, the turnkey insurance platform for registered investment advisors, is the leading insurance provider focused on commission-free products for fee-only advisors and is now considered a “game changer” according to the 2023 T3/Inside Information Survey conducted by Bob Veres and Joel Bruckenstein. The comprehensive survey of 3,309 financial advisors across almost all demographic categories evaluated advisor technology offerings in more than 30 industry categories. DPL was included in the new Life Insurance Analysis/Buying Services category.
For the third consecutive year, the survey showed DPL was the dominant provider of commission-free insurance products to advisors. At 5.32% of market share, DPL trails just behind a brokerage with three decades in the marketplace.
The survey also asked respondents which providers they are considering and 85 cited DPL, almost double the number of advisors considering any of its nearest competitors. This finding, according to the authors, “suggests that DPL will continue its ascent up the rankings.”
The report notes a shift in the insurance industry’s consumer outreach that once relied on field agents and high commissions to “customized product design and leaner economics,” as it looks to serve fiduciary financial planners and their clients. DPL works with insurance carriers to bring low-cost, commission-free products to market for RIAs and provides a marketplace with products, education, and tools to help advisors incorporate insurance into their planning toolkit.
“As DPL’s member base grows to thousands of RIA firms, we are on the frontlines of the industry’s embrace of annuities and insurance to meet goals in clients’ financial plans,” said DPL CEO and Founder David Lau. “We will continue to expand the availability of fiduciary solutions and technology to help advisors bring the many benefits of insurance to their clients and practices.”
The full T3/Inside Information Survey can be found here.
About DPL Financial Partners
DPL Financial Partners is the leading insurance marketplace bringing best-in-class solutions from the nation’s top carriers to registered investment advisors (RIAs), their clients and consumers. DPL’s products, proprietary tools and embedded technology enable RIAs to incorporate insurance and annuities into their practices to more holistically serve their clients. Clients benefit from products that offer competitive pricing and transparent, fiduciary implementation to meet a range of needs in the financial plan. www.dplfp.com
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