Orion and DPL Financial Partners on Wednesday announced an expansion of their integration that provides advisors with annuity and insurance solutions within the Orion Connect platform.
According to the companies, annuities have existed outside of the core advisor workflow, but the integration provides advisors with access inside the platform to a marketplace of fee-based products and supporting tools.
The integration covers three tools: Annuity Comparison Calculator, Guaranteed Income Analysis and Multi-Year Guaranteed Annuities (MYGA) Marketplace.
Annuity Comparison Calculator lets advisors evaluate existing client annuities and compare them with alternatives aligned to retirement income, principal protection or growth objectives, the firms said.
Guaranteed Income Analysis helps advisors identify annuity solutions that meet specific retirement income needs and model retirement outcomes.
MYGA Marketplace enables advisors to compare and apply for a variety of commission-free MYGAs.
The tools use DPL’s rules-based engine and product database to provide client proposals, recommendations matched to client goals, and the ability to launch digital applications, the companies said.
“Commission-free annuities are becoming an essential part of modern, fiduciary financial planning — but advisors need technology to access and implement them without friction,” according to Reed Colley, President of Orion Advisor Technology.
“Through this integration of DPL’s annuity tools and product insights, advisors have the ability to evaluate income strategies, uncover held-away assets, and deliver more confident retirement outcomes without leaving their core workflow,” he said in the news release.
“With commissions removed, annuities can be used as a structured solution to deliver efficient retirement income and protection from market volatility,” said David Lau, Founder and CEO of DPL Financial Partners.
He added, “Through this embedded experience within Orion’s platform, annuities are now integrated with other investments and tools advisors use to manage client portfolios. And they can be leveraged in an advisory practice as fee-billable assets.”
The announcement builds on an existing partnership between the two firms that they said “established annuity data integration and enabled advisors to easily move between” the Orion and DPL platforms.
In February 2024, DPL and Orion announced they expanded their partnership to provide fee-based financial advisors on the Orion Advisor Technology platform with access to DPL’s commission-free annuity marketplace, product discovery tools and support of licensed insurance consultants.
Orion and DPL will host a webinar on March 31 that they said will demonstrate the embedded technology.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
