LOUISVILLE, Ky.–(Small business WIRE)–DPL Financial Associates (“DPL”), the major coverage network for registered financial commitment advisors (RIAs), today introduced a $26 million combined equity money investment from its preliminary trader, Eldridge, and Atlas Service provider Cash, the personal expense company launched by Bob Diamond and David Schamis. DPL designs to invest the proceeds in the advancement of technologies and infrastructure to assist its growing advisor base of extra than 10,000 advisors and carry on to carry commission-absolutely free annuity and insurance plan solutions to their purchasers.
“Eldridge has been with us from the start off, so they comprehend the business we’re creating, the enormous prospect in entrance of us, and the spot know-how has normally occupied at the forefront of our strategic system,” mentioned David Lau, Founder and CEO of DPL. “Their renewed dedication, blended with new backing from Atlas and its renowned leadership group, is unbelievably gratifying and exciting.”
“David and his crew are evolving annuity distribution by leveraging knowledge, engineering, and training,” explained Todd Boehly, Chairman and CEO of Eldridge. “They have made a market of value-targeted items delivering a lot more optionality for individuals to satisfy their monetary ambitions.”
“Our workforce of operators at Atlas were captivated to the possibility to back a business concentrated on the basic, technological innovation-oriented transformation of commission-driven insurance coverage distribution,” stated Bob Diamond, Founder and CEO of Atlas Merchant Cash. “David has a observe history of developing enterprises that disrupt industries and provide large benefit to shoppers.”
In relationship with the investments, associates from Atlas Service provider Capital and Eldridge will be joining a newly fashioned board of administrators for DPL that will also involve Lau and two independent customers to be named later.
About DPL Fiscal Associates
DPL Fiscal Associates is the first and major RIA turnkey coverage management system that delivers commission-cost-free insurance policy methods from a wide variety of the nation’s prime carriers to RIA methods. DPL has made a marketplace of fee-no cost insurance goods that permits RIAs to incorporate insurance policies and annuities into their practices to more holistically provide their consumers. Customers benefit from solutions that provide aggressive pricing and fiduciary implementation alternatively than commissioned, product sales-pushed kinds. www.dplfp.com
About Atlas Service provider Capital LLC
Atlas Merchant Capital LLC invests in compelling marketplace alternatives in the money expert services sector. Primarily based in New York and London, Atlas Service provider Cash was established by Bob Diamond and David Schamis, who together with their associates form a complementary partnership with comprehensive running and investing abilities across the money expert services landscape. Even further data is out there at www.atlasmerchantcapital.com.
About Eldridge
Eldridge grows diversified corporations with a aim on Coverage, Credit score, Technologies, Authentic Estate, Athletics and Media, and Purchaser. The business seeks to make and develop corporations led by tested administration teams that have shown management and encounter to scale an company. Eldridge is headquartered in Greenwich, Connecticut, with further places of work in Beverly Hills, New York, and London. To study additional about Eldridge, be sure to visit www.eldridge.com.