Boehly, Diamond Back Firm Focused on Commission-Free Annuities
- Their firms invest $26 million in DPL Financial Partners
- ‘Technology is a very big part of this,’ Diamond says
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Finance veterans Todd Boehly and Bob Diamond are backing a startup aimed at a niche part of the sector: insurance and annuities sold through registered investment advisers.
Boehly’s Eldridge and Diamond’s Atlas Merchant Capital LLC invested $26 million in equity capital in DPL Financial Partners, the startup said Wednesday in a statement. Representatives from both firms will join a newly formed board of directors.