AmeriLife — a big, private equity-backed financial services distributor — has hired Todd Buchanan to be the president of its AmeriLife Wealth business.

Buchanan will oversee relationships with 44,000 agents and advisors at 25 affiliated firms.

He succeeds Mike Vietri, who will stay with AmeriLife as an executive vice president for distribution.

AmeriLife: AmeriLife is a Clearwater, Florida-based firm that was founded in 1971.

J.C. Flowers, a private equity firm, bought a stake in the company in 2015.

Thomas H. Lee Partners bought a majority stake in AmeriLife in 2020.

Genstar Capital bought a stake equal to Thomas H. Lee Partners' stake in 2022.

In recent years, AmeriLife has become known as a frequent buyer of existing financial services distribution firms.

Todd Buchanan: Buchanan previously was the president of Transamerica's World Financial Group financial distribution business, which has relationships with 92,000 agents and advisors.

Buchanan is a board member of Finseca, a group for financial professionals. He also serves on the board of a commercial bank in the Tampa, Florida, area and on the board of Vineyard Capital Partners, an investment firm with $250 million in assets. He also has served as the CEO of Coherent, an insurance technology firm.

Earlier in his life, he was a captain in the U.S. Army.

He has a bachelor's degree from the University of Southern Mississippi. He got into the financial services industry as a financial advisor at VALIC, an American International Group subsidiary that is now part of Corebridge.

What it means: Scott Perry, AmeriLife's CEO, said the company wants Buchanan to help expand the wealth distribution business.

Buchanan's arrival could be a sign that AmeriLife will be expanding efforts to develop new and better financial services distribution technology systems.

Todd Buchanan. Courtesy photo

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