We talk to RIAs every day and understand you have questions about our company, our approach and “how it all works”. Below are answers to the questions we are asked most frequently. If you have a question that is not answered below, or simply want to talk about how we can help you, please give us a call at 888-327-0049 to speak with a member of our team. We’d love to hear what’s on your mind.
DPL works to bridge the gap between RIAs and insurance carriers so that commission-free, easily accessible insurance can be an asset in an RIA's practice.
With Carriers: We provide market knowledge and product expertise to help top carriers create low-cost, commission-free insurance products specifically for RIAs.
With RIAs: We act as the RIAs’ insurance department, providing expert analysis of clients’ existing policies and access to new, commission-free alternatives that offer transparency, value and choice to RIAs and their clients.
- We are a membership organization, meaning we charge a small fee to RIAs to join our community and enjoy unlimited access to DPL’s resources and product expertise. This membership model allows us to leverage the collective buying power of our members to create low-cost insurance products that eliminate expensive commissions and distribution costs.
- Companies with up to $250M in AUM pay $1,000/yr.
- Companies with $250M+ in AUM pay $2,500/yr.
- The second way we generate revenue is from the multiple carriers with whom we work. DPL creates the infrastructure through which we can issue policies on behalf of these carriers for our RIA members. We provide the product education, the licensing capabilities and the broker/dealer (for variable products). For this infrastructure, we get an administrative fee. The fee, which is 80%-90% lower than carriers’ traditional distribution costs, enables the repricing of products to create greater benefit for the RIA’s client.
Because of the RIAs’ fiduciary model, RIAs cannot sell commissioned insurance. Until now, this has meant that RIAs either do not include insurance products in their clients’ financial plans, or have to refer their clients to outside commission-based insurance professionals, thereby losing control of a key part of the portfolio. Working with DPL, RIAs are able to:
- Stop referring clients to outside insurance professionals
- Retain control of their client experience
- Ensure clients are only presented insurance solutions they recommend
- Meet client demand for broader services
- Increase AUM by retaining or bringing in insurance business
We see RIAs charging either a one-time planning fee and/or a percent of AUM. See chart below for common fee vs. AUM by product type (and our consultants would be happy to speak with you about what may work best for your practice.)
|Fee||AUM Charge||Either Fee or AUM|
|Term Life||Buffer Annuities||Universal Life|
|Disability||Fixed Annuities||Single Premium Immediate Annuities|
|Guaranteed Universal Life||Fixed-Indexed Annuities|
|Long-Term Care||Variable Annuities|
|Medicare Supplement||Variable Universal Life|
RIAs who want to work with DPL join our community as “members” and enjoy unlimited access to our resources and product expertise. DPL acts as an RIA’s insurance department:
- We analyze the strengths and weaknesses of existing client holdings
- We help find solutions for RIA clients with commission-free, value-driven products
- DPL consultants can issue policies and add products, technology and procedures to support RIAs
If we don’t have a product that works for a particular client, we’ll tell the RIA who does.
It’s easy to get started with DPL. We begin with an introductory call to understand how you currently plan for your clients' insurance needs. We'll introduce our team and answer your questions. After that, we'll discuss a personalized plan for your clients and their needs, whether it's to review existing coverage or explore new coverage.
RIAs who become members of DPL get:
- access to our team of agnostic insurance consultants who will aid in analyzing their clients’ current insurance plans and evaluate alternatives with the goal of strengthening each client’s portfolio
- thought leadership for various uses of insurance within a practice – both our own content and from peers and experts across the industry
- a level of product expertise that RIAs don’t often have since they have not evaluated a lot of insurance products because they were historically commission-based
- tools to evaluate and illustrate complex information in a direct, highly-customized manner
DPL’s works for the RIA. We only interact with an RIA's client if we are executing a new insurance contract. Beyond that, we only interact with a client at the RIA’s request.