The Independent Order of Foresters has completed previously announced efforts to acquire First Investors Consolidated Corp. (FICC), a U.S. distributor of life and investment products.
Foresters, Toronto, has acquired 100% of FICC, New York, through a deal first disclosed in September 2010.
The acquisition includes FICC’s registered broker-dealer, its registered investment advisory firm, transfer agent and life insurance operations. Foresters has not discussed the price of the deal.
FICC is an 80 year-old, privately held financial services firm with $7 billion in assets under management. The firm has a network of about 700 sales professionals and 400 employees in 46 offices in 26 states.