Dpl Financial Partners, a leading platform in commission-free insurance solutions for Registered Investment Advisors (RIAs), has announced its acquisition of AnnuityFix and its broker-dealer affiliate, Johnstone Brokerage Services. This strategic move is set to significantly bolster DPL’s Breakaway Accelerator program, designed to assist financial advisors in transitioning their existing annuity business to a fee-based model, paving the way for full independence. As part of the acquisition, AnnuityFix founder Grant Johnstone has been appointed as DPL’s Chief Compliance Officer and Chief Legal Officer, and the employees of AnnuityFix will be integrated into the DPL team.
“Annuities often represent the final asset class that keeps advisors tied to their broker-dealers,” stated David Lau, Founder and CEO of DPL Financial Partners. “Since the launch of our Breakaway Accelerator program late last year, we have been actively engaged with numerous breakaway teams and roll-up firms in transitioning annuity portfolios. We are thrilled to welcome Grant, whose extensive experience caters to the unique needs of the RIA sector, and to expand our capabilities with Grant’s team and established processes.”
The Breakaway Accelerator program by DPL Financial Partners offers advisors transitioning to a fee-only model a comprehensive framework and technology to assess their clients’ annuity holdings. This evaluation determines whether exchanging these holdings for commission-free products available on the DPL platform is beneficial for the client. In situations where maintaining a commissioned annuity is in the client’s best interest due to favorable terms or features, DPL facilitates the seamless transfer of these policies from the advisor’s current broker-dealer.
Grant Johnstone commented, “I am excited to merge the expertise of the AnnuityFix team with DPL Financial Partners’ market-leading, turnkey solution for transitioning breakaway annuity assets. This acquisition is a significant win for both advisors and their clients, who will gain from DPL’s commission-free product offerings and advanced technology for evaluating, transitioning, and managing substantial annuity asset blocks.”
The acquisition is pending regulatory approvals before finalization.
About DPL Financial Partners
DPL Financial Partners stands as a premier insurance marketplace, delivering top-tier solutions from leading national carriers to registered investment advisors (RIAs), their clients, and consumers. DPL’s suite of products, specialized tools, and integrated technology empowers RIAs to effectively incorporate insurance and annuities into their practice. This integration allows for a more holistic approach to client service. Clients benefit from competitively priced products and transparent, fiduciary-aligned implementation, catering to a diverse spectrum of financial planning needs. www.dplfp.com
