Industry leaders Todd Boehly and Bob Diamond lead fintech investment with broad reach
LOUISVILLE, KY. (January 13, 2021) – DPL Financial Partners (“DPL”), the leading insurance network for registered investment advisors (RIAs), today announced a $26 million combined equity capital investment from its initial investor, Eldridge, and Atlas Merchant Capital, the private investment firm founded by Bob Diamond and David Schamis. DPL plans to invest the proceeds in the development of technology and infrastructure to support its growing advisor base of more than 10,000 advisors and continue to bring commission-free annuity and insurance products to their clients.
“Eldridge has been with us from the start, so they understand the business we’re building, the huge opportunity in front of us, and the place technology has always occupied at the forefront of our strategic plan,” said David Lau, Founder and CEO of DPL. “Their renewed commitment, combined with new backing from Atlas and its renowned leadership team, is incredibly gratifying and exciting.”
“David and his team are evolving annuity distribution by leveraging data, technology, and education,” said Todd Boehly, Chairman and CEO of Eldridge. “They have created a marketplace of value-focused products providing more optionality for people to meet their financial goals.”
“Our team of operators at Atlas were attracted to the opportunity to back a firm focused on the fundamental, technology-oriented transformation of commission-driven insurance distribution,” said Bob Diamond, Founder and CEO of Atlas Merchant Capital. “David has a track record of building businesses that disrupt industries and deliver tremendous value to clients.”
In connection with the investments, representatives from Atlas Merchant Capital and Eldridge will be joining a newly formed board of directors for DPL that will also include Lau and two independent members to be named later.
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
About Atlas Merchant Capital LLC
Atlas Merchant Capital LLC invests in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape. Further information is available at www.atlasmerchantcapital.com.
Eldridge grows diversified businesses with a focus on Insurance, Credit, Technology, Real Estate, Sports and Media, and Consumer. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge, please visit www.eldridge.com.