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Business Observer Friday, Jul. 19, 2019 1 month ago

Insurance, investment firms merge to create $2.7B company

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Clearwater-based AmeriLife Group acquires majority stake in Brookstone Capital Management.

CLEARWATER — AmeriLife Group, a Clearwater company that specializes in developing, marketing and distributing annuity, life and health insurance solutions, has acquired a majority interest in Brookstone Capital Management, a Wheaton, Ill.-based registered investment advisory firm.

The combined organization, according to a press release, will boast more than $3.5 billion in annual life, health and annuity premiums and $2.7 billion in assets under management, making it one of the largest largest independent marketing and RIA organizations in the United States.

Brookstone will continue to operate at its Wheaton headquarters. The firm’s founder, Dean Zayed, will remain CEO in addition to becoming president of AmeriLife’s new investment advisory services division. Other terms of the deal were not disclosed in the release. 

“Partnering with Dean and the Brookstone team is a major step toward AmeriLife’s strategic goal of providing full-service insurance, retirement and legacy planning services to our agents, advisors and clients,” AmeriLife CEO Scott Perry states in the release. “Brookstone’s comprehensive investment management platform, education and training resources, and operational and marketing support, enable advisors to start and grow a successful investment advisory practice. These capabilities will be tremendous assets for our thousands of insurance and annuity-based career and independent agents who are looking to expand their businesses to include investment advisory services.”

Brookstone, the release states, operates a network of more than 400 affiliated advisors and firms, providing investment strategy and asset management services to more than 24,000 pre-retirees and retirees.

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