Full Transcript for Leveraging DPL’s technology to guide the path to independence

get that, that are really truly independent, that work and focus with the RAA. 00:04:29.519 --> 00:04:32.639 So, Michael, long-winded answer to the question, but it really is. 00:04:32.720 --> 00:04:35.120 It's the uh bigger isn't necessarily better. 00:04:35.279 --> 00:04:44.000 It's the looking at the SEC regulations fit most advisors much better, and it's a much smarter system to operate under. 00:04:44.160 --> 00:04:51.199 And then the final one is really looking at compliance in a in a rational way, not just being terrified of the next audit. 00:04:51.680 --> 00:04:52.160 Absolutely. 00:04:52.319 --> 00:04:54.000 You're just playing off of that, Ray. 00:04:54.079 --> 00:05:01.680 Whenever you consider looking at DPL and how we partner with UAG and other firms in the space, you hit on FINRA, you hit on compliance. 00:05:02.000 --> 00:05:07.600 Great part of the partnership that DPL brings to these firms, helps satisfy some of those things. 00:05:07.759 --> 00:05:13.519 We still deal with the FINRA, we deal with the red tape, take that off your hands as the RIA and the advisor. 00:05:13.680 --> 00:05:28.160 And then secondarily, when it comes to the compliance, we have tools that are out there today through the DPLFP.com site that you can leverage to help make sure that you're getting the best fit of a product for annuities to your client. 00:05:28.319 --> 00:05:30.399 Focus solely on their goals. 00:05:30.560 --> 00:05:34.399 So if it's a good fit for the client, great, we're able to help fulfill that for you. 00:05:34.560 --> 00:05:44.800 And right with our partnership, it's another way that we continue to look to take care of our advisors so they don't have to deal with offenders, so they don't have to worry about the compliance standards that come with that. 00:05:45.120 --> 00:05:55.839 Well, Michael, and and you know, kind of tell you what you already know and share with the other listeners and so forth, is you talk about that kind of ability to compare one annuity product to another, one living benefit to another. 00:05:56.079 --> 00:05:57.920 You guys give us the best of both worlds. 00:05:58.160 --> 00:06:01.199 You need to play catch up over the weekend, you've got access to the website. 00:06:01.279 --> 00:06:04.639 If you want to talk to somebody about it, you've got folks that are incredibly responsive. 00:06:04.800 --> 00:06:10.879 I know our guys in our group have been talking to Hunter Landis quite a bit lately, and it's 180 this, I got this from Hunter, I got that from Hunter. 00:06:11.120 --> 00:06:17.360 So you decide how you want to get that evaluation data, how you want that. 00:06:17.600 --> 00:06:20.480 So you make absolutely certain you're getting the best solution for your clients. 00:06:21.120 --> 00:06:22.560 Moving on to the second question here. 00:06:22.639 --> 00:06:28.879 How does UAG leverage its partnership with DPL to attract and onboard independent-minded advisors? 00:06:29.199 --> 00:06:30.480 It goes back

to our structure. 00:06:30.639 --> 00:06:33.040 Literally, we are an RIA only. 00:06:33.360 --> 00:06:40.399 And I think a lot of folks, when they hear RIA only, they think I'm giving up all of the stuff I used to do on the broker dealer side. 00:06:40.560 --> 00:06:43.040 What am I gonna do with my 529 plans? 00:06:43.199 --> 00:06:45.920 What am I gonna do with all my old variable annuities? 00:06:46.079 --> 00:06:49.600 What am I gonna do with the trail commissions that I used to have and so forth? 00:06:49.759 --> 00:06:56.319 And what we've done with the advisors that have come over is literally kind of laid out to the guys, all right, there's a plan A and a plan B. 00:06:56.480 --> 00:07:05.920 So plan A is this you're gonna sit down and give DPL in a very secure way two pieces of information or plug it into the website, two pieces of information. 00:07:06.160 --> 00:07:07.360 What's the age of the client? 00:07:07.519 --> 00:07:09.040 Why are they focused on death benefit? 00:07:09.120 --> 00:07:10.319 Are they focused on living benefit? 00:07:10.399 --> 00:07:13.519 In other words, what solution are we trying to find? 00:07:13.759 --> 00:07:21.920 And a lot of times that may be the exact same solution it was when they opened that variable annuity five years ago, seven years ago, whatever, three years ago, doesn't matter. 00:07:22.079 --> 00:07:28.079 So you look at it and say, all right, is now a good time for us to find something that's better, okay? 00:07:28.399 --> 00:07:40.160 More income, better death benefit, more income in five years, whatever the case might be, and to be able to leverage your guys' work on that, the monitoring that you guys do on that piece. 00:07:40.319 --> 00:07:41.199 So that's plan A. 00:07:41.279 --> 00:07:51.120 And what we've seen is we're going to see anywhere from 60 to 80 percent of the existing book of business simply we can do better for the client with what's available today. 00:07:51.279 --> 00:07:53.279 Then you look at, so what are we doing with the rest of it? 00:07:53.439 --> 00:07:55.360 Well, we're not leaving the cash on the table, guys. 00:07:55.519 --> 00:08:10.000 What we're doing with the rest of it then is then we look at it and say, all right, how do we work with DPL to continue to provide the that same annuity for our clients and integrate it into the same financial plan that it was integrated into before? 00:08:10.480 --> 00:08:12.560 Both of those solutions work very well. 00:08:12.639 --> 00:08:33.600 And at the end of the day, the clients are significantly better off either because they have a better annuity solution for that piece of their retirement picture or their their piece of the investment solution, or we're able to continue doing what we were doing before and integrate it into the new resources that we now have available as an independent RIA. 00:08:33.840 --> 00:08:36.000 Yeah, I think you hit the nail on the head with that statement, right? 00:08:36.080 --> 00:08:47.200 Is the fact that we're able to a lot of advisors think that they don't have a way to bring these assets over and have a way to continue to get paid advisory fees on it, which is simply not true. 00:08:47.360 --> 00:09:03.919 It's something that we've been able to open up here at DPL and working with RA firms such as yourself at UAG to be able to essentially give these advisors that continuous revenue that they were used to in the world when they were living in the underneath the FENRO realm. 00:09:04.080 --> 00:09:21.039 Uh, with what we're able to do today and partnering with you all, it gives them that that safety and making sure that they can continue to put food on on their tables for their families, but also look from it from a standpoint hey, is there ways that we can actually improve the client situations with the information and technology we have today? 00:09:21.440 --> 00:09:21.919 There you go. 00:09:22.000 --> 00:09:22.480 You got it. 00:09:22.639 --> 00:09:22.960 Absolutely. 00:09:23.759 --> 00:09:31.360 Firms often tout the simplicity of using DPL's platform to help boost client satisfaction, retention, and fee-based revenue. 00:09:31.600 --> 00:09:35.840 To what extent has UAG affiliated advisors experienced this? 00:09:36.080 --> 00:09:38.159 What have those advisors said about the process? 00:09:38.399 --> 00:09:39.440 Yeah, two things on it. 00:09:39.600 --> 00:09:42.159 One is, like I said, it's hey, let's call it what it is. 00:09:42.240 --> 00:09:50.879 It's a heck of a lot easier to provide you guys with the age of the client and what we need as far as a living benefit goes or a death benefit goes, and have you do the homework on it. 00:09:51.039 --> 00:09:51.360 Okay? 00:09:51.519 --> 00:09:52.000 It just is. 00:09:52.240 --> 00:09:53.039 It's a great resource. 00:09:53.200 --> 00:09:54.240 Take advantage of it, guys. 00:09:54.320 --> 00:09:55.360 You don't need to be the expert. 00:09:55.440 --> 00:10:02.960 You don't need to call 15 different annuity companies, talk to 10 different wholesalers to figure out what I could have found out by simply plugging it into a website at 10 a.m. 00:10:03.120 --> 00:10:04.000 on a Saturday morning. 00:10:04.080 --> 00:10:04.399 Okay. 00:10:04.639 --> 00:10:05.360 That's number one. 00:10:05.440 --> 00:10:05.919 That's a given. 00:10:06.080 --> 00:10:09.759 When I say it's a given, I think it's terribly overlooked because it's an incredible time saver. 00:10:09.919 --> 00:10:10.559 So that's number one. 00:10:10.720 --> 00:10:15.600 Number two is then we look at it and we utilize Black Diamond for a reason. 00:10:15.759 --> 00:10:24.799 Not to get too deep into United Advisor Group, but each one of the firms that comprise this RAA are branded to their own firm. 00:10:24.960 --> 00:10:32.960 Okay, so they have their own logo, they have their own colors, they have how they want to structure their statements when they go to their clients. 00:10:33.279 --> 00:10:43.039 And working with DPL

allows them, them being the advisors, to integrate that fully with the client statements that go out. 00:10:43.200 --> 00:10:50.399 So now you don't have the situation of where you're like, well, this is all your brokerage stuff, and this is your feed-based stuff, and this is your insurance stuff. 00:10:50.480 --> 00:10:52.720 And then the client says, Well, can you put it on one piece of paper? 00:10:52.960 --> 00:10:53.440 Not really. 00:10:53.679 --> 00:10:55.039 Here, just well, Mr. 00:10:55.120 --> 00:10:56.399 Client, I got to be compliant. 00:10:56.480 --> 00:10:58.480 So you could add this all up if you wanted to. 00:10:58.720 --> 00:11:00.480 It is all fully integrated. 00:11:00.639 --> 00:11:03.440 And then once again, this goes back to that original point. 00:11:03.600 --> 00:11:09.360 The technology has moved so far that that whole integration works in the financial planning software. 00:11:09.440 --> 00:11:18.080 It works literally where you can drive those statements down to the an app on your phone so that the client always sees the entire full picture. 00:11:18.320 --> 00:11:28.159 And that's one of the biggest advantages of working with DPL is the resources they've dedicated to make sure that everything plugs cleanly and thoroughly into Black Diamond. 00:11:28.399 --> 00:11:42.879 Yeah, but yeah, we've done a lot of technology and a lot of work with Black Diamond to make sure that we can have that information flowing to advise to make sure that they have what they need at the touch of their hand, whether digitally through their apps or being online through their desktops. 00:11:42.960 --> 00:11:48.159 So a lot of work we've been trying to put out there to make your lives easier as well with the integrations we've been providing. 00:11:48.559 --> 00:11:49.440 Well, thank you, Ray. 00:11:49.600 --> 00:11:52.559 Any closing thoughts or comments on anything you'd like to mention? 00:11:52.879 --> 00:12:10.480 To go back and just kind of you know put the proverbial bow on the whole thing is what you're looking at is if you start at the very top and say, all right, I understand that there are advantages to the structure and the independence and the true ownership that you can have of an RIA. 00:12:10.639 --> 00:12:15.600 So you start there and say, All right, I love all that, but with the help of DPL, there's no but. 00:12:15.919 --> 00:12:20.080 There's not, but I'm giving away this, or but I'm gonna lose my trails on that. 00:12:20.240 --> 00:12:20.559 Okay. 00:12:20.879 --> 00:12:26.399 It takes the butt out of the equation and allows you to get your cake and eat it too. 00:12:26.480 --> 00:12:27.279 It really does. 00:12:27.519 --> 00:12:41.440 And it makes a heck of a lot of sense to be able to, like I said, operate under the SEC umbrella where it fits so much better to the way that we want to provide advice and a true financial plan to our clients. 00:12:41.759 --> 00:12:43.279 Thanks everyone for being with us today. 00:12:43.360 --> 00:12:49.679 And again, let's connect at dplfp.com and subscribe for more episodes anywhere you listen to podcasts. 00:12:49.840 --> 00:12:50.320 Thanks, Mike. 00:12:50.480 --> 00:12:51.279 Thank you. 00:12:54.799 --> 00:12:55.919 Thanks for listening. 00:12:56.080 --> 00:13:03.120 To hear more advisor revelations, go to dplfp.com and subscribe on your favorite podcast streaming app.