Summary by Roger Wohlner
We recently had a chance to talk with Eli George, VP of Solutions Management with SS&C Advent, a member of the ThinkAdvisor Luminaries class of 2021. Also joining us was David Lau, who is a CEO of DLP Financial Partners. DPL partnered with SS&C Advent in launching the Advent Insurance Marketplace for fee-only advisors.
SS&C Advent was an award winner in the category Products, Programs & Services – Other, under the broader category of Dealmaking and Growth Luminaries.
Eli discussed Advent’s Black Diamond Platform which is a comprehensive financial planning and solutions platform for RIAs and fee-based advisors. Comprehensive solutions for life and disability insurance and annuities for these advisors was a missing component of the platform. The partnership with DPL allowed SS&C advent to add this crucial piece to their platform for advisors.
David discussed how financial advisors have evolved over the past decade from focusing only on investments to a more holistic role in which they help their clients with all aspects of their financial planning. In the past fee-based advisors have often had to refer clients to other advisors or registered reps who would provide these products on a commissioned basis. DPL works with a number of commission-free providers and their insurance platform brings these products to fee-based advisors to help them better serve the needs of their clients.
Both Eli and David discussed how their firm’s partnership and the development of the Advent Insurance Marketplace happened in the middle of COVID. It was not until recently that the key members of both firms who were involved in this process were able to meet in person.
Eli and David both see the development and the implementation of the Insurance Marketplace as the first step in the collaboration of the two firms. They will seek ways to better serve fee-based, fiduciary financial advisors and their clients.
Since the release of the Advent Insurance Marketplace powered by DPL earlier in 2021, the two firms note that usage of these new tools has increased markedly over the past several months.
Press play to hear the entire conversation with Eli George and David Lau to learn more about SS&C Advent and DPL’s business and how they have collaborated to bring this cutting edge insurance tool for RIAs and fee-based advisors to fruition.
About SS&C Advent and DPL
SS&C Advent is a technology and service provider, serving the wealth management and asset management spaces at large. DPL is a turnkey insurance platform for RIAs and fee-based advisors. The two forms combined to launch the Advent Insurance Marketplace, powered by DPL.