Home / transaction / Berkshire Global Advisors acted as financial advisor to Sammons Financial Group
Berkshire Global Advisors acted as financial advisor to Sammons Financial Group
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  • Berkshire Global Advisors acted as financial advisor to Sammons Financial Group

  • Date: January 2021
  • Sector: Investment Management
  • Sub-Sector: Fintech
  • Region: North America
  • Seller AUM: $3 Billion
  • Seller Details:
    Beacon Capital Management is a next-generation registered investment advisory (RIA) firm and turnkey asset management program (TAMP) dedicated to fundamentally improving the science of investing for fee-based financial advisors and institutions and the clients they serve. Beacon Capital Management was founded in July 2000 with the goal of providing long-term investors innovative portfolio management solutions that work to capture gains while seeking to limit losses from market volatility. In addition to investment management services, the firm seeks to empower advisors with turnkey marketing, operational and account management support. Estimated as of December 31, 2020, Beacon’s assets under management have grown to more than $3 billion.

    Buyer Details:
    With more than $114 billion in GAAP assets, Sammons Financial Group is a diversified financial services organization with a long history of leadership in the life insurance and retirement marketplace. A subsidiary of Sammons Enterprises, Inc., Sammons Financial Group is privately owned with member companies. The Sammons Financial Group insurance companies emerged from 2020 with more than $10 billion in total premiums. The member companies include Midland National® Life Insurance Company (including Sammons® Corporate Markets); North American Company for Life and Health Insurance®; and Sammons Institutional Group® (including Midland Retirement Distributors® and Sammons Retirement Solutions®). Sammons Institutional Group offers fee-based retirement products and fixed & variable annuities

    Transaction Summary:
    For Sammons Financial Group, the acquisition is a strategic move to expand into the growing advisor marketplace. This acquisition will expand both Sammons Financial Group and Beacon product and strategy solutions for all financial advisors with particular focus on the fast growing retirement market. All Beacon employees and contract wholesalers will become part of the Sammons Financial Group family of businesses. All agent and advisor relationships – and investment strategies – will remain unchanged.