AmeriLife Group has acquired a majority stake in J.D. Mellberg Financial, an annuity and retirement planning firm based in Arizona, for an undisclosed amount.
The acquired frim, which is headquartered in Tucson, Arizona, offers income planning and asset preservation services to pre-retirees and retirees across the US.
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Established in 2005, J.D. Mellberg Financial assists clients in developing and executing retirement income strategies.
Post-acquisition, the combined organisation is expected to have more than $4.8bn in annual annuity premium.
As per the agreement, the company will continue to be led by its founder Joshua Mellberg, alongside Dan Morgan, the general counsel and chief compliance officer of the company.
AmeriLife CEO Scott Perry said: “Josh is passionate about educating consumers to help them make informed choices and feel confident about their financial future.
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By GlobalData“He has instilled that customer-centric approach in the agents and the employees on his team.”
Last month, an investor group led by Thomas H. Lee Partners (THL) agreed to purchase a majority stake in AmeriLife Group from J.C. Flowers & Co. and other investors.
Headquartered in Clewarwater, Florida, AmeriLife is engaged in developing, marketing and distributing life and health insurance, annuities and retirement planning platforms.
It caters to its customers through a national distribution network that consists of over 140,000 insurance agents and advisers, 50 insurance agency locations, and 20 marketing organisations.
