Florida-based life and health insurance solutions provider AmeriLife Group has acquired a majority stake in Brookstone Capital Management, a provider of fee-based asset management services.


Image: AmeriLife acquires majority stake in Brookstone. Photo: Courtesy of Gerd Altmann/Pixabay

As per the insurance company, the combined entity could create one of the largest registered investment advisory (RIA) firms in the US.  It is expected to have more than $3.5bn (£2.8bn) in annual life, health and annuity premiums and $2.7bn (£2.16bn) in assets under management.

AmeriLife CEO Scott Perry said: “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.

“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, and for our many experienced Series-65 licensed investment advisor representatives (IARs) who will gain access to a superior platform of investment models and IAR services delivered by a top-notch fiduciary team.”

Founded in 2006, Brookstone has developed a network of more than 400 affiliated advisors and firms, serving more than 24,000 pre-retirees and retirees with investment strategy and asset management services.

The firm’s open architecture platform features a wide range of investment managers and solutions that complement annuities and other insurance products.

Brookstone also claims that its portfolios have been custom-made to each client’s unique risk tolerance and financial goals for asset accumulation, retirement income, and legacy planning.

Brookstone will continue to operate from its Wheaton, Illinois headquarters, under the leadership of its founder, Dean Zayed. He will continue with his post as CEO and will also take up the responsibility as AmeriLife’s new Investment advisory services division president.

Zayed said: “We are excited to welcome AmeriLife as an equity partner and believe this strategic alliance will bring tremendous value to our affiliated advisors and agents, their clients and the industry as a whole.

“Brookstone was one of the first RIAs to build a fiduciary-based turnkey investment platform specifically supporting insurance-licensed retirement advisors, and now, by integrating these two leading firms into one all-inclusive platform, affiliated advisors and agents will have access to a broader set of financial strategies to more comprehensively serve their clients’ financial needs.

“As AmeriLife’s new Investment Advisory Services division, Brookstone will be well-positioned to work together in partnership with AmeriLife’s entire distribution system to offer advisors a broader solution set.”