Eldridge, Atlas Merchant Capital, increase commitments in commission-free insurance pioneer

DPL Financial Partners (“DPL”) announced today that its two outside investors, Eldridge and Atlas Merchant Capital, have invested an additional $20 million (combined) in the turnkey insurance management platform for registered investment advisors. The new equity commitment coincides with DPL surpassing $1 billion in commission-free annuity purchases by advisors on behalf of their clients. Members also have placed approximately $825 million in commission-free life insurance through DPL.

“These two numbers—approaching $2 billion in no-load insurance products transacted on the platform and $20 million in new growth capital from two financial services visionaries—tell the same story,” said David Lau, DPL Founder and CEO. “It’s the story of an industry slowly but steadily shifting to a new distribution paradigm that puts investors first through the elimination of sales commissions. We welcome our investors’ continued support and are excited to accelerate our pace of innovation and growth.”

One RIA firm that is leveraging DPL’s commission-free solutions and discovery tools is Two West Advisors. "Working with DPL, our firm is taking a truly fiduciary approach to find the best solutions for each client,” said Vern Cushenbery, CIO, Two West Advisors. “By removing commissions from annuities, there’s no conflict of interest, no difference in our compensation model. DPL has turned what was a product into a tool and it’s making a big difference in how we serve our clients and grow our business."

The new funding will support DPL’s ongoing technology development. The company is actively expanding its suite of product discovery and comparison tools that enable advisors to compare a range of commission-free annuity products from leading carriers. In addition, DPL will continue expanding its team, which has grown 50% in the last nine months alone, to accommodate member growth and demand from advisors and consumer seeking annuity solutions.

“DPL’s turnkey platform improves efficiency within insurance asset management, giving financial advisors better access to annuity products and the benefits they afford clients,” said Todd Boehly, Chairman and CEO of Eldridge. “Our latest investment reflects DPL’s strong performance to-date and supports the ongoing expansion of their valuable marketplace infrastructure.”

“Atlas is excited to support David and the DPL management team as they lead a technology-oriented transformation of annuity and insurance product distribution,” said Bob Diamond, Founder and CEO of Atlas Merchant Capital. “Recent successes are a testament to the power of DPL's leadership and business model and also highlight the need for disruption in the way insurance products are sold in the marketplace. We are eager to support our partnership with DPL to facilitate continued growth and to enable additional investments in technology and talent.”

DPL’s platform now serves an RIA base of more than 3,500 firms, including 1,900 firms connected via the Advent Insurance Marketplace Powered by DPL on the Black Diamond Wealth Management platform. There, advisors can implement and manage annuities alongside other investments directly on one of the most popular advisor desktop applications in the market.

About DPL Financial Partners

DPL Financial Partners is the leading commission-free insurance marketplace that brings solutions from a variety of the nation's top carriers to registered investment advisors (RIAs) and their clients. DPL’s products, proprietary tools and embedded technology enable RIAs to incorporate insurance and annuities into their practices to more holistically serve their clients. Clients benefit from products that offer competitive pricing and fiduciary implementation rather than commissioned, sales-driven ones. www.dplfp.com

About Eldridge

Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge, please visit www.eldridge.com.

About Atlas Merchant Capital

Atlas Merchant Capital LLC was founded to participate in compelling market opportunities in the financial services sector. Based in New York and London, Atlas Merchant Capital was founded by Bob Diamond and David Schamis, who together with their partners form a complementary partnership with extensive operating and investing expertise across the financial services landscape. Further information is available at www.atlasmerchantcapital.com.

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