Using no-load insurance to differentiate your practice | DPL Financial Partners

Founder and CEO of DPL Financial Partners, David Lau, explains why RIAs are using no-load insurance to differentiate their practices.

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For RIAs for their history, they've been differentiated.
So they've had the differentiation of we bill on fees, we don't work on Commission,
we use no-load products, we're a fiduciary acting in your best interest.Well today those
points of differentiation are basically gone. Most wire house advisors, most
Broker Dealer reps they manage money on fees they don't use load mutual funds,
they don't use load products anymore. And with Reg BI it's become codified that
most every advisor is acting in a client's best interest so for an RIA those traditional historic points of differentiation are basically gone. So they need to look for new ways to
differentiate and many advisors tell us that our firm gives them the ability to
do that again. So just like back a couple decades ago when Charles Schwab
introduced no-load mutual funds this was a point of differentiation.
Now no-load insurance is a point of differentiation and it's a great point
of differentiation because it's tangible. You show a material benefit to your client when you're comparing a commission product versus a no-load product. There's material benefit for the client economically.

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