DPL offers its members Alex Murguia and Wade Pfau’s RISA tool to match retirement income strategies to client preferences
LOUISVILLE, KY, September 14, 2022- DPL Financial Partners, the leading commission-free insurance marketplace for registered investment advisors (“RIAs”), announced that it has partnered with RISA to pair the groundbreaking Retirement Income Style Awareness tool with DPL’s no-load insurance solutions. The combined offering is now available to DPL Members through dplfp.com, as well as other RIA platforms.
RISA is the brainchild of retirement income experts Alex Murguia and Wade Pfau, designed to help investors identify their retirement income personalities as a first step in developing individualized retirement plans. The RISA methodology is backed by the pair’s extensive research on retirement and income and has been extensively tested with individual investors.
“For decades, advisors have matched clients’ accumulation strategies to their risk profiles but haven’t had the ability to do the same for retirement strategies,” said DPL Founder and CEO David Lau. “Without a standardized tool to help match retirement income strategies to a client’s tolerance for income risk, advisors have traditionally defaulted to investments-only strategies which often are misaligned with client psychologies in retirement. Through Wade and Alex’s research-backed framework, advisors can deliver strategies that meet clients’ best interest through RISA-facilitated conversations about what that best interest is.”
RISA weighs a variety of factors related to an individual’s feelings about security and flexibility in an income approach, including their comfort relying on market returns for income versus a preference for contractual guarantees, as well as their desire for flexibility in their plan versus commitment to a chosen retirement income solution. Pfau and Murguia worked with DPL’s team to map specific annuity product types and benefits to different income strategies during the development of the RISA.
“Alex and I are very familiar with DPL’s work and sought their expertise when determining which annuity products would be best suited to meet clients’ needs based on their income style preferences,” said Pfau. “The RISA is solution agnostic, and some income styles align more closely to the benefits of annuities than others. When an annuity is appropriate, we trust DPL to help advisors implement the best solution.”
DPL is making the RISA available to a small group of its member firms in an initial rollout this month and plans to expand access to the full DPL membership later this year.
“RISA fills a critical gap in the advisor’s retirement income planning toolkit,” said Murguia. “We look forward to hearing feedback from DPL members as they bring this tool to their clients and prospects.”
About DPL Financial Partners
DPL Financial Partners is the first and leading RIA turnkey insurance management platform that brings commission-free insurance solutions from a variety of the nation's top carriers to RIA practices. DPL has created a marketplace of commission-free insurance products that enables RIAs to incorporate insurance and annuities into their practices to more holistically serve their clients. Clients benefit from products that offer competitive pricing and fiduciary implementation rather than commissioned, sales-driven ones. www.dplfp.com
RISA, the Retirement Income Style Awareness profile, is built on a retirement income framework that blends psychology and financial planning to help investors identify their unique retirement income preferences. Developed by retirement income experts Alex Murguia and Wade Pfau, the intuitive, easy-to-follow survey considers a variety of factors related to an individual’s feelings about security, flexibility, reliance on market returns, and preference for contractual guarantees to define their tolerance for income risk during decumulation. The RISA empowers financial advisors with the insights they need to implement the retirement income strategies that make the most sense for each individual client. https://risaprofile.com/