DPL Offers Retirement Income Assessment Tool for Members


Louisville, Kentucky-based DPL Financial Partners combines fee-only advisors and RIAs with resources related to low-cost no-load annuities into an innovative personality assessment tool that zeroes in on all members provides full access to Regarding the client’s specific retirement income preferences.

It’s called the “Retirement Income Style Recognition” tool, and it’s tied to the work of many industry veterans. (It is called “RISA” for short.)

DPL Founder and CEO David Lau was Chief Operating Officer at pension provider Jefferson National before launching DPL as a way to connect financial professionals (and their clients) with fee-free annuities. The Retirement Income Style Awareness tool was created by Wade Pfau, author of the Retirement Planning Guidebook and former professor of Retirement Income at the American College of Financial Services, and Alex Murguia, his CEO of Retirement Researcher and managing director of Tysons. It is due to the idea of McLean Asset Management, based in Virginia.

Lau said in a press release that the tool combines client-level insights with DPL’s commission-free annuity solution to “enable advisors to develop customized income strategies that resonate with clients and reflect their fiduciary approach to retirement planning.” make it available,” he said.

Style recognition tools generate custom profiles that identify the best retirement income solutions for every client. Beginning with a simple questionnaire that combines expertise in psychology and financial planning, we assess a range of key factors related to respondents’ feelings of safety and flexibility, their reliance on market returns, and their preference for contractual guarantees. Compare and consider. An online survey can be completed within 20 minutes of him and helps define each client’s tolerance for income risk during the deductible phase of retirement.

The tool then generates custom reports that can guide advisors through a variety of client-tailored options, allowing clients to choose what best suits their unique needs and preferences.

Among the retirement income solutions that your profile may recommend are fee-free and trustee-friendly pensions.

“It is important to align clients with strategies that are unique to them,” said Bob Witt, DPL member and financial advisor to Savant Wealth Management in Lincolnshire, Illinois, in a statement. The solutions that look best above may not be the ones they can stick to during hard times.”

Witt was part of the first release of the style recognition tool to a small group of DPL members last fall.

Advisors commonly use this tool as the first step in the planning process to help clients reach their retirement income goals or to validate current plans. The latter use is especially important during times of market volatility. The tool is also effective for advisors trying to attract new clients, as it demonstrates the advisor’s ability to personalize retirement plans.

A style recognition tool should change the conversation about retirement income for advisors and their clients, Murguia said in a press release.

Of course, profiles created by style recognition tools don’t necessarily indicate a need for a pension. However, if the results indicate a client’s strong desire for guaranteed income safety and security, asset protection, or a combination of the two, the advisor could certainly be induced to consider a particular annuity option. There is a possibility

DPL members have access to a market of vetted fee-only annuity solutions to implement such strategies.

“At the DPL, [tool’s] We will profile more RIAs and clients looking for personalized retirement income solutions,” Murguia continued. “So far we have received great feedback from DPL members and we will continue to learn from their experiences as we develop the RISA Marketplace.”

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