What You Need to Know
- The company now works with 420,000 agents and advisors.
- Silver Lake will get a seat on the Integrity Marketing board.
- Harvest Partners will continue to be the biggest institutional investor.
Integrity Marketing Group — a Dallas-based company that has acquired dozens of life, health and annuity agencies and distributors — said Thursday that it has attracted $1.2 billion in capital from a new investor, Silver Lake.
Silver Lake is a Menlo Park, California-based company that may be best known for its investments in Airbnb, Dell Technologies, Peloton and Twitter.
In 2019, Integrity Marketing described itself as a senior market products distributor. Today, the company says it’s “an omnichannel insurtech leader in life, health and wealth solutions.”
Bryan Adams, Integrity Marketing’s co-founder and CEO, focused in a comment on the new Silver Lake relationship, included in the deal announcement, on efforts to improve digital systems.
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“We’ve invested heavily in technology and are constantly working to develop transformative solutions that improve the insurance and wealth management experience for Americans,” Adams said.
Integrity Marketing is a privately held company was founded in 2006. It made a splash in January 2018 by acquiring Neishloss & Fleming, a Medicare plan distributor. The company said at the time that it had about 300 full-time employees and relationships with 120,000 independent agents and advisors.
The company reported in 2019 that, at that time, it had about 500 employees, relationships with 215,000 agents and advisors, relationships with 4 million clients, and plans to make enough sales in 2019 to generate about $2 billion in new annualized premiums.
Today, the company says, it has 5,500 employees, relationships with 420,000 agents and advisors, relationships with 10 million clients, $7 billion in sales per year, and $20 billion in assets under management through RIA and broker-dealer programs.
Silver Lake will get a minority stake in Integrity Marketing and a seat on the company’s board, according to the deal announcement.