A retirement plan business is using an acquisition to enter the registered investment advisor and fee-based retirement plans market.
UNIFI Companies Retirement Plans, a unit of UNIFI Mutual Holding Company, Lincoln, Neb., is buying Assurity Advisors Inc. from Assurity Life Insurance Company, Lincoln.
UNIFI, the parent of Ameritas Life Insurance Corp. and the Union Central Life Insurance Company, hopes to close on the deal Aug. 1. The price of the deal was not immediately available.
The UNIFI Companies Retirement Plans intends to use the Assurity Advisors business to expand distribution by marketing products based on mutual funds, according to Andrew Powers, a vice president at the UNIFI unit.