Allianz Life Insurance Company of North America has acquired Questar Capital Corp., a national securities broker-dealer and registered investment advisor that has a network of 400 producers.[@@]
Allianz Life, Minneapolis, is not announcing the price of the deal, but it says acquiring Questar, Ann Arbor, Mich., should double its broker-dealer revenue.
Questar was founded in 1997. It now is registered to sell insurance in all 50 states and to sell insurance products in 36 states. The company also is registered in 30 states as a registered investment advisor.
The company has 31 employees in Ann Arbor and 4 principals. The 4 principals will go to work for Allianz Life as senior managers or consultants, Allianz Life says.
The Questar principals are Robert Boone, Scott Chimner, John Gakenheimer and Jason Kavanaugh.
Allianz Life says acquiring Questar will help it add fee-based financial planning services, more than 30 fee-based and wrap-fee programs, and asset-management programs that use a variety of screening tools and asset-allocation strategies.