The Future of Annuities in the RIA Industry with David Lau and Michael Kitces

In this episode, DPL Founder and CEO David Lau talks with Michael Kitces, one of the most influential voices in the financial services industry. Michael is the Head of Planning Strategy at Buckingham Wealth Partners, a Co-Founder of the XY Planning Network, AdvicePay, New Planner Recruiting, and fpPathfinder. They discuss the trends and best practices in the financial services industry and the challenges and opportunities around annuities, particularly in the RIA market. Michael and David emphasize the need for carriers to create products that can be used, not just sold, and support advisors' business models. Learn more at https://www.dplfp.com/series/advisor-...

Michael talks with David about trends and best practices in the financial advisor industry. They also discuss the challenges and opportunities around annuities, particularly in the RIA market. Michael and David emphasize the need for carriers to create products that can be used, not just sold, and support advisors' business models.

Key Takeaways
00:00 - Intro
02:37 - How Michael got started in financial services.
06:02 - Michael's involvement in the early years of variable annuities.
09:15 - Michael's blogging journey and the growth of his platforms.
12:39 - How Michael balances his time between his platforms and business partnerships.
18:09 - Building products that can be used, not just sold.
26:38 - The operational challenges RIAs face when dealing with annuities.
31:59 - The challenges of making operational paperwork more efficient.
34:06 - The need for scalability in the annuity industry.
38:41 - The challenges of duration for carriers.