Insurance NewsNet

For RIAs, A Vexing Insurance Dilemma

A large majority of registered investment advisors (RIAs) offer clients insurance planning. But nearly half of all RIAs refer their insurance business to an outside insurance agent or specialist, a new benchmarking survey has found.

While 88 percent of RIA respondents said they offer insurance planning in some form, 49 percent refer the insurance piece to insurance professionals, the survey found.

In addition, 70 percent of RIAs agree insurance is key to a holistic financial plan, but only 25 percent of RIAs offer clients a range of insurance products, according to the “RIA Insurance Planning Benchmarking Survey.”

DPL Financial Partners, a company that helps insurers develop fee-based products to distribute through the RIA channel, published the survey based on data from 118 RIAs.

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