Annuities were once considered a taboo topic in the financial world, often associated with high fees and complex features. However, perceptions of annuities are starting to change, with a growing acceptance of their role in modern financial planning. One company at the forefront of this shift is Orion, a leading wealthtech firm that is integrating insurance tools into its platform for financial advisors through a partnership with DPL Financial Partners.
Orion, with nearly $6 trillion in client assets on its platform, is known for providing technology solutions that help advisors streamline their back-office tasks and create customized portfolios for their clients. The collaboration with DPL will give advisors access to advanced annuity and insurance tools within the Orion platform, including three of DPL’s annuity comparison and analysis tools.
According to Reed Colley, President of Orion Advisor Technology, commission-free annuities are becoming essential for fiduciary financial planning. The integration of these tools into the Orion platform will make it easier for advisors to access and implement annuities without friction, ensuring that the process is aligned with their fiduciary responsibilities.
DPL, led by financial services veteran David Lau, specializes in commission-free insurance and annuity products, as well as technology-driven tools for RIAs and wealth management professionals. By integrating DPL’s technology into Orion Connect, advisors can access a marketplace of vetted products from top carriers, allowing them to offer annuities as fee-billable assets rather than relying on commissions.
Recent surveys have shown that advisors who embrace annuities have seen a significant increase in assets under management (AUM) and stronger client relationships. With the removal of commission incentives and increased transparency in evaluating annuities, advisors are starting to see them as valuable tools for addressing retirement challenges such as income durability, volatility management, and risk alignment.
One key advantage of DPL’s approach is that it supports advisors with insurance-licensed agents, eliminating the need for investment advisor representatives to hold additional licenses or FINRA registration. This flexibility allows dually registered firms to evaluate their annuity business and explore new revenue streams while providing better solutions for their clients.
Overall, the integration of annuity and insurance tools into the Orion platform represents a significant step towards modernizing financial planning and enhancing the advisor-client relationship. As annuities continue to gain traction among advisors, their role as a valuable planning tool for specific retirement needs is becoming more widely recognized. With the right technology and support, advisors can leverage annuities to help clients achieve their long-term financial goals.
