Integrity Marketing Acquires Two Distributors: Deals
An American Enterprise Group arm invested in an insurance recommendation system.
Integrity Marketing Group LLC — a big insurance distributor — has acquired two smaller distributors: Theodore Group and Aspect Management.
Integrity Marketing is a Dallas-based company that’s been growing rapidly through acquisitions. It has ties to 370,000 agents, and those agents could make about $7 billion in sales this year.
Theodore Group is a 12-year-old, Kissimmee, Florida-based distributor that will make about $15 million in life insurance sales this year.
Integrity Marketing said Nick Theodore, Theodore Group’s CEO, and Cindi Theodore, the company’s chief operating officer, will become managing partners at Integrity Marketing.
Aspect Management is a Columbia, South Carolina-based independent marketing organization (IMO) that was founded in 2003. It sells health insurance, life insurance and final expense insurance products to older consumers, using high-tech systems.
Aspect Management has relationships with about 50,000 U.S. households and expects to make about $75 million in sales this year.
Graham Miller, president of Aspect Management, and Ava Miller, vice president of Aspect Management, will become managing partners in Integrity.
In other deal news:
American Enterprise Ventures LLC — an investment arm of Des Moines, Iowa-based American Enterprise Group Inc. — says it has made a significant investment in Everyday Life.
Everyday Life is an Andover, Massachusetts-based company with a digital life insurance agency system that helps consumers lock in and buy coverage.
The system analyzes the consumer’s needs and recommends products, as well as giving a shopper a way to compare and buy products.
OneDigital’s investment advisor unit has acquired the assets of Fiduciary Plan Advisors, which was founded in 2014. The firm’s co-founder, Jania Stout, was president of the National Association of Plan Advisors from 2018 through 2020.
OneDigital Investment Advisors will be getting $6 billion more in assets and nine FPA employees.
Voya Financial Inc. has completed previously announced plans to sell the Voya Financial Advisors independent financial planning channel to Cetera Financial Group Inc.
About 800 independent financial professionals who serve retail customers have moved to Cetera. Voya has kept about 600 financial professionals, to support its worksite marketing business, and Voya is emerging with $300 million in extra cash it can use.
Reinsurance Group of America Inc. has announced the completion of an annuity reinsurance transaction with Modern Woodman of America.
An RGA subsidiary will reinsure a block of U.S. annuities.
Modern Woodman will continue to serve and administer the contracts, according to RGA.
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