DPL, Offering Commission-Free Annuities, Gets $23M in Funding
PLANADVISOR
DPL Financial Partners LLC, which offers advisers access to commission-free annuities, has gotten a $23 million nod of approval from insurance investors.
DPL announced Tuesday a Series C funding round led by Eos Venture Partners Ltd. and TIAA Ventures, the venture capital arm of retirement income and investment management provider TIAA.
The funding round is the first that includes insurers, DPL noted, which CEO and Founder David Lau touted as backing for its unique model for registered investment advisers to sell annuities through a fee-based model, rather than on commission.
“Having the support of leading insurers validates our business thesis, and we are aligned in our commitment to bring disruptive products and technology to market that empower advisors as fiduciaries and put investors first,” Lau said in a statement...
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