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Utah Insurer Chooses Asset Manager

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Beneficial Investment Services Inc., a new broker-dealer arm of Beneficial Life Insurance Company, has agreed to use managed account programs from FundQuest Inc.

Beneficial Life, Salt Lake City, was founded in 1905 and bills itself as the “oldest life insurance company domiciled in the Intermountain West.”

FundQuest, Boston, sells asset management service packages.

Beneficial Life, which does business as Beneficial Financial Group, had been getting investment advisory services through its Allegis Advisors subsidiary. The company now has merged the Allegis subsidiary with Beneficial Investment.