DPL teams with Transamerica

DPL Financial Partners, an insurance network for registered investment advisors (“RIAs”), announced an agreement with Transamerica to offer the insurer’s I-Share variable annuity to DPL’s 800 RIA member firms. The annuity features subaccount options from leading investment managers in equity, fixed-income and alternatives, along with several living benefits expected to appeal to fee-only advisors and their clients.

“Recent market volatility has exposed vulnerabilities in investment-only portfolios, so advisors are looking for products that can bring some protection and security to their clients. Transamerica’s I-Shares variable annuity offers clients market participation with several principal protection options, as well as the ability to create guaranteed income. This is exactly the type of solution our members have been seeking in this volatile market.” – DPL Founder and CEO David Lau.

“We know fee-only advisors are increasingly embracing annuity products and view the space as a natural opportunity to expand our accessibility in the market. We’re excited to work with DPL to bring the Transamerica Variable Annuity I-Share to their large and fast-growing network of RIA firms.” – Joe Boan, Senior Managing Director, Wholesale Distribution and Marketing of Individual Solutions for Transamerica.

In addition to its investment options from some of the industry’s top managers such as American Funds, BlackRock, T. Rowe Price and Janus, the annuity’s optional living benefits provides the opportunity to lock in account value annually, based on the highest monthly policy value (versus quarterly or annually), as well as several other living benefit riders with customizable features. DPL will begin offering the product on its platform in mid-May 2020.

Bottom Line: DPL’s second partnership announcement as of April.