Simplicity Group has acquired Davis Life & Annuity, an Iowa-based life and annuity brokerage firm, for an undisclosed price.
Davis Life & Annuity helps its advisor clients provide retirement income and asset protection solutions to their consumers across the US.
The company, which was founded in 1980, serves independent financial professionals.
Simplicity bought the insurance distribution company from Jon and Trent Davis.
Davis Life & Annuity principal Trent Davis said: “It was a straightforward decision to join Simplicity. We believe in Simplicity’s vision and look forward to helping it become the premier financial institution that supports independent advisors in executing their commitments to their clients and achieving their professional goals.”
Jon Davis added that alongside Simplicity, the insurance brokerage firm will be able to offer even greater value to its advisors while maintaining its personal, hands-on approach to business.
Davis Life & Annuity’s product and service offerings include a life insurance underwriting TPA business, called Innovative Underwriting Solutions. With a workforce of 31 team members, Davis Life & Annuity is claimed to be a top-tier insurance marketing organization, with clients located in various parts of the US.
Simplicity CEO Bruce Donaldson said: “Jon, Trent and the entire Davis Life & Annuity team have built an exceptional business.
“Their core values of integrity, client service, and professional excellence represent the industry benchmark for best practices and we look forward to helping the team achieve greater success as part of Simplicity.”
Davis Life & Annuity is the eleventh organization to have joined Simplicity’s group of insurance distribution businesses and other companies. All the Simplicity’s operating businesses are directed by their respective local management teams and have access to the group’s resources.
Headquartered in Connecticut, Simplicity through its operating subsidiaries offers annuity, life insurance, and retirement solutions to financial advisors, independent insurance professionals, and their clients.
The company said that by acquiring and partnering with leading insurance distribution organizations and technology firms, it seeks to deliver sophisticated business solutions that will attract the industry’s best in leadership, advisors, talent and future partners.