30 min
Driving Disruption in the Insurance Industry with David Lau WealthTech on Deck
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- Investing
Comfort is the enemy of progress, especially in business. Adapting to new models and driving change is frightening, due to fear and risk of failure. Some industries are better than others at embracing disruption, but the insurance industry often needs to catch up. When systems are working well enough, not everyone sees value in taking a different approach. Change may be uneasy, but it also brings the possibility to improve, grow, and advance.
This week, Jack talks with David Lau, Founder and Chief Executive Officer of DPL Financial Partners about disrupting the insurance industry. David has been an innovator for every business he has built, with extensive experience dating back to his role as the Chief Marketing Officer of E*Trade Bank, and its predecessor TeleBank. David has been at the forefront of developing products, platforms, and distribution systems that allow RIAs to implement commission-free annuities into their clients’ portfolios.
In this episode, David talks to Jack about how DPL drives change in the insurance industry by offering commission-free annuities. They discuss how annuities can enhance outcomes, which mistakes financial advisors should avoid with their clients, and where David sees the industry going.
Key Takeaways
[01:36] - An introduction to David.
[05:53] - What does DPL Financial Partners do?
[08:23] - The powerful combination of technology and human interaction.
[10:38] - How annuities can enhance outcomes.
[14:39] - An exciting project David is working on.
[19:28] - Why retirees seek stability.
[23:27] - David’s predictions for the future of the industry.
[27:17] - How David spends his time outside of work.
Quotes
[04:48] - “It's easy to become beholden to your existing distribution, but anybody could see that the way the world was going and continues to go, is away from commissions and towards fees.” ~ David Lau
[09:14] - “The ultimate value proposition we're delivering to an RIA is we're giving you the ability to grow. We're gonna help you bring in held-away assets. We're going to help you get more wallet share. We're gonna help you attract new customers.” ~ David Lau
[14:28] - “We’re solving problems, not selling products.” ~ David Lau
Links
David Lau | LinkedIn
DPL Financial Partners
Nationwide Advisory Solutions
Alex Murguia
Wade Pfau
E*Trade
Connect with our hosts
LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter
Subscribe and stay in touch
Apple Podcasts
Spotify
LinkedIn
Twitter
Facebook
Comfort is the enemy of progress, especially in business. Adapting to new models and driving change is frightening, due to fear and risk of failure. Some industries are better than others at embracing disruption, but the insurance industry often needs to catch up. When systems are working well enough, not everyone sees value in taking a different approach. Change may be uneasy, but it also brings the possibility to improve, grow, and advance.
This week, Jack talks with David Lau, Founder and Chief Executive Officer of DPL Financial Partners about disrupting the insurance industry. David has been an innovator for every business he has built, with extensive experience dating back to his role as the Chief Marketing Officer of E*Trade Bank, and its predecessor TeleBank. David has been at the forefront of developing products, platforms, and distribution systems that allow RIAs to implement commission-free annuities into their clients’ portfolios.
In this episode, David talks to Jack about how DPL drives change in the insurance industry by offering commission-free annuities. They discuss how annuities can enhance outcomes, which mistakes financial advisors should avoid with their clients, and where David sees the industry going.
Key Takeaways
[01:36] - An introduction to David.
[05:53] - What does DPL Financial Partners do?
[08:23] - The powerful combination of technology and human interaction.
[10:38] - How annuities can enhance outcomes.
[14:39] - An exciting project David is working on.
[19:28] - Why retirees seek stability.
[23:27] - David’s predictions for the future of the industry.
[27:17] - How David spends his time outside of work.
Quotes
[04:48] - “It's easy to become beholden to your existing distribution, but anybody could see that the way the world was going and continues to go, is away from commissions and towards fees.” ~ David Lau
[09:14] - “The ultimate value proposition we're delivering to an RIA is we're giving you the ability to grow. We're gonna help you bring in held-away assets. We're going to help you get more wallet share. We're gonna help you attract new customers.” ~ David Lau
[14:28] - “We’re solving problems, not selling products.” ~ David Lau
Links
David Lau | LinkedIn
DPL Financial Partners
Nationwide Advisory Solutions
Alex Murguia
Wade Pfau
E*Trade
Connect with our hosts
LifeYield
Jack Sharry on LinkedIn
Jack Sharry on Twitter
Subscribe and stay in touch
Apple Podcasts
Spotify
LinkedIn
Twitter
Facebook
30 min