To provide life insurance consulting services to the firm's financial advisors
The Phoenix Companies has formed a distribution company, Saybrus Partners, which has signed an agreement with financial services firm Edward Jones to provide life insurance consulting services to the firm’s financial advisors.
Phoenix formed Saybrus as part of a series of actions to strengthen its market position and strategy. Saybrus provides dedicated consultation services to partner companies, as well as support for Phoenix’s product line within its own distribution channels.
James Wehr, president and chief executive officer of Phoenix, said: “Establishing Saybrus is an important first step in executing our growth strategy, which includes leveraging our existing capabilities in innovative ways. Through Saybrus, we can leverage our exceptional life insurance expertise, our solutions-based approach, and our proven ability to support financial advisors.
Saybrus’ wealth management consultants will work with over 11,700 Edward Jones financial advisors, helping them match insurance products to meet their clients’ needs.
The initial three-year agreement focusses Saybrus consultants on two new insurance carriers in the Edward Jones retail distribution network, John Hancock Life Insurance (U.S.A.) and Pacific Life Insurance, both of which have a selling agreement with Edward Jones.