September 20, 2023
DPL Financial Partners, a commission-free insurance platform for registered investment advisors, announced Wednesday that it is acquiring AnnuityFix and its affiliated broker-dealer, Johnstone Brokerage Services.
David Lau, DPL’s founder and CEO, tells ThinkAdvisor the acquisition is designed to enhance the DPL breakaway accelerator program, which allows financial advisors to transition their legacy annuity business to a fee-based business model, enabling many to go independent.
“Annuities are often the last asset class tethering advisors to their broker-dealer,” Lau explains. “Since launching our breakaway accelerator program late last year, we’ve begun working with scores of breakaway teams and rollups to transition annuity books...”