As Lau confused, Orion’s advisors will acquire entry to a complete lineup of commission-free annuities and “best-in-class” life, incapacity and long-term care merchandise. Orion advisors will moreover have direct, built-in entry to DPL’s proprietary instruments for locating and evaluating annuities by sort, advantages and prices. Lastly, knowledge feeds from DPL into the Orion Advisor Know-how platform allow administration of annuity belongings alongside different investments within the consumer’s portfolio.

A Huge Milestone for DPL

Reflecting on the progress his agency has revamped the previous 5 years since its founding, Lau stated he was gratified to see the platform cross $1 billion in complete annuity gross sales final 12 months, whereas the mixed belongings below administration of advisors on the platform has crossed $1 trillion. He stated he all the time anticipated to hit these ranges, however not essentially this rapidly.

“These have been each actually cool milestones to have the ability to cross in 2023,” Lau stated. “Because it associated to working with Orion, the principle causes advisors have shied away from utilizing annuities on a charge foundation prior to now have been structural. The best product codecs didn’t exist and the tech didn’t exist — or the tech didn’t work on their methods or desktops. We’ve been targeted on breaking all that down, and to accomplice with the likes of Orion is essential to attaining the general imaginative and prescient.”

Lau stated the agency goals to proceed to innovate and pursue new integrations in 2024, particularly on the subject of bettering advisors’ potential to assist annuity purchases at scale.

“Annuities have historically been bought on a person, one-off foundation,” Lau defined. “Purchases have been taken place between one consumer and one dealer. Properly, we’ve got these mega-RIAs on the market in the present day that handle many billions of {dollars}, they usually don’t need to open up 10,000 particular person annuities. Identical to when you’re promoting an answer on the asset administration aspect, you don’t need it to be a person consumer portfolio factor. We all know our options should be scalable.”

Pictured: David Lau