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Roundup: Private Advisor Group helps advisors in the event of death

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Private Advisor Group’s Advisor Protection Program helps advisors in the event of death

Private Advisor Group, LPL Financial’s largest branch office and a $5B RIA, launched an Advisor Protection Program that is available to any advisor within Private Advisor Group and will pay their beneficiary 2x’s their trailing 12 month advisory revenue should the advisor die.

According to Patrick Sullivan, managing director of the company, they have found that many advisors don’t have a buy-sell agreement in place. “We wanted to create a program that helps our advisors and their clients in the event of an advisor’s death,” he said.

The program provides the advisor with extra time to determine what his or her longer term succession plan will be. “We are really trying to help our advisors that don’t have any protection or plan in place,” Sullivan said.

Digital Benefit Advisors strengthens N.C. footprint with new partnerships

Digital Benefit Advisors (DBA), a division of Digital Insurance, in North Carolina has increased its market share through a recent acquisition, two new partnerships and by enrolling thousands in its private exchange, Digital Benefits Marketplace. DBA acquired Forrester & Associates Insurance and established partnerships as the exclusive benefits provider with Raleigh-based First Citizens Bank and Watkins Financial Group.

Even though Digital Benefits Marketplace was launched last October, the concept has been very popular with North Carolina businesses striving to find alternatives to address rising benefits costs. The program enables employers to fix costs through a defined contribution and provides greater choice for employees, allowing members to choose the benefits they personally want and need.

First Citizens Bank, headquartered in Raleigh and has 400 branches in 17 states and Washington, D.C., selected DBA as a partner to offer comprehensive insurance options and benefit programs for employers and individuals in North Carolina, Tennessee, Virginia and West Virginia.

Life Settlement Association expands membership benefits to producers and consumer advisors

The Life Insurance Settlement Association (LISA) is welcoming producers and advisors under a new membership category designed to help them expand access to resources in the life settlement. According to a press release, millions of baby boomers hold hundreds of billions of dollars of life insurance that could become life settlements, but many seniors often experience unexpected changes that alter their priorities regarding life insurance.

The expanded membership category offers education tools and resources to advisors in a broad array of areas to include professional networking, legal compliance, legislation and regulation, industry news, and more.

And, for the first time, the association is hosting an exclusive advisor track at its 20th Fall Conference at the Omni Scottsdale Resort & Spa at Montelucia on October 7th, 2014. For more information, please visit their event website here.

Forrest E. Mills, Jr. CFO of Guaranty Income Life Insurance Company elected as 2014-2015 IASA president

IASA, one of the insurance industry’s largest trade associations, announced that Forrest E. Mills, Jr. of Guaranty Income Life Insurance Company (Guaranty) has been elected as president of the association for the 2014 – 2015 fiscal year.

“I am deeply humbled and proud to be the next president of IASA,” said Forrest Mills, chief financial officer for Guaranty, and newly-elected IASA president. Mills, like many others in the insurance finance area, began his career in public accounting at Postlethwaite & Netterville, APAC in Baton Rouge, LA. He then accepted a position as treasurer and controller for State National Companies, a position he held for several years before the Liberty Corporation acquired State National in 1994 and he became director of audit services in the company’s Greenville, SC office. Mills then accepted his current position with Guaranty.

Troy Thompson joined LGA as VP of product management

Troy Thompson, FSA joined Legal & General America as vice president, product management.  Thompson was most recently vice president of USAA, in San Antonio, Texas, where he was first the strategic leader of life and investment company operations and then a leader in an enterprise transformation initiative. He served as senior VP of fixed life products at Genworth Financial, is a mathematics graduate with honors from The University of Texas, and a Fellow in the Society of Actuaries.

OneAmerica® promotes three top-ranking officers

The companies of OneAmerica announced that Jeff Holley has been promoted to executive vice president, chief financial officer and treasurer; Mark Roller will assume the title of executive vice president, organizational and operational development; and Tom Zurek has been named executive vice president, general counsel and secretary. Each previously held the title of senior vice president.

SeniorQuote Insurance Services, Inc. expands team with director of marketing, director of finance and IT

SeniorQuote Insurance Services, Inc., a provider of health and life insurance services for seniors, announced the hiring of Vanessa Allen, director of marketing, and Gerald Shukert, director of finance and IT.

Allen comes to SeniorQuote from ACTIVE Network, a global provider of SaaS technology that powers participant and activity management, where she was the senior manager of marketing for sports. Prior to that, she served as the senior director of marketing at Office Depot, and worked in high level marketing positions at other reputable companies including Hickory Farms, Smith+Noble, Road Runner Sports and the California College for Health Sciences. She obtained her Bachelor of Arts from Occidental College and possesses certificates in Virtual Team Leadership and Analytics Platform Principles. In addition, Allen currently serves on the board for the San Diego Direct Marketing Association.

Prior to joining SeniorQuote, Shukert was the director of finance and IT at Garden Fresh Restaurant Corp, an associate at Booz Allen Hamilton, senior financial analyst at Petco, and held other positions. Shukert received his Bachelor of Arts in Economics from the University of Maryland College Park and earned his Masters in Business Administration, with a concentration in Finance, from Washington University in St. Louis

Symetra names Megan Meyers regional vice president, retirement sales

Symetra Life Insurance Company announced that Megan Meyers has joined the company as a regional vice president, relationship manager in retirement sales. Prior to joining Symetra, she was national sales manager at Penn Mutual Life Insurance, was regional vice president of national accounts for Jackson National Life Insurance Company and holds FINRA Series 7, 24 and 63 licenses as well as her life and annuity license in the District of Columbia. She earned a bachelor’s degree in Communications at Mount Vernon College/George Washington University.


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