AmeriLife Group LLC said today that it has acquired a majority stake in Brookstone Capital Management LLC.
AmeriLife Group is a life insurance, annuity and health insurance distributor based in Clearwater, Florida. It has relationships with about 140,000 insurance agents and investment advisors.
Brookstone is a registered investment advisory (RIA) firm based in Wheaton, Illinois, that was founded in 2006. The firm has relationships with about 400 advisors and 24,000 clients.
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AmeriLife is not saying how much it’s paying for Brookstone, but it says the combined company has $2.7 billion in assets under management, from Brookstone, and generates life, health and annuity business, from the AmeriLife operations, that produces $3.5 billion in annual premium revenue.
AmeriLife reported in June that it had refinanced about $300 million in debt and had $100 million in cash and credit that it could use to pay for acquisitions.