Simplicity Group Holdings has announced its third insurance distributor deal of the year.
The Summit, New Jersey-backed company has acquired The Annuity Source Inc.
The Annuity & Life Source is Bellevue, Washington-based financial marketing organization that was founded in 1991. It distributes annuities and some life insurance.
(Related: Simplicity Acquires First Income Advisors)
In addition to the office in Bellevue, the company has an office in Cincinnati.
Simplicity bought the company from Margo Thompson, Shannon Compton, Heather Hutchinson and Courtney Juhl.
Thompson was one of the leaders of the National Association for Fixed Annuities (NAFA) efforts to fight the U.S. Department of Labor’s indexed annuity sales standards, which ended up dying in court.