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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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Go deeper on emerging topics, as well as key firms and thought leaders
May 23, 2005 at 08:00 PM
A consortium of life insurance agencies announced a decline in revenues and net income for the fourth quarter of 2004.[@@]
The Marketing Alliance Inc., Pittsburgh, reported $4.8 million in revenues for the quarter, vs. $5.8 million in the same period last year.
Revenues for the year ending Dec. 31 were $16.4 million, down from $17.7 million in 2003.
TMA reported a net loss of $3,101 in the quarter, vs. net income of $219,000 for the same period last year. For the year, net income was $564,000, vs. net income of $1.9 million in 2003.
TMA says the decline was due mostly to startup costs for its operations, including the transfer of some processes to its new business center in Omaha, Neb.
TMA’s network consists of about 150 independent life brokerage and general agencies in 43 states.
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