N.J. firm buys Allegis Group

Simplicity Group, a financial product distribution company based in Summit, New Jersey, has entered into an agreement to acquire Allegis Advisor Group of Salt Lake City. Allegis is an agency of independent advisors in the annuity, long-term care and life insurance sales industry. Allegis will be the 43rd group to join Simplicity.{mprestriction ids="1,3"}

At the closing of the acquisition, Allegis principals Chris Miller, Brian Pierce, Eric Stuart, Nate Williams, Barney Tanner and Byron Rasmussen will become partners at Simplicity. The day-to-day operations of the Salt Lake City Allegis office will continue to be managed by Miller and his leadership team.

“With a focus on education, value and partnership, Chris and his team have demonstrated their commitment to serve independent agents and advisors with great service, marketing and premium products and Allegis is well-positioned to integrate seamlessly into Simplicity,” said Bruce Donaldson, president and CEO of Simplicity. “Our prior working relationship with Allegis was founded on our respect for the business that Chris, Brian, Eric, Nate, Barney and Byron have built. We are thrilled to welcome them and the whole Allegis team to the group.”

“Through our longstanding partnership with Simplicity, we have seen firsthand the company’s commitment to supporting us in our work with advisors,” said Miller. “With the strength of Simplicity behind us, we are excited for the next chapter, continuing to help our partners maximize their unique business opportunities.”

“We are proud of the team we have built at Allegis, and the work we do for agents and advisors and their clients every day,” said Pierce. “Simplicity is committed to that work and has built the marketing, sales training, technology and business infrastructure that will let us focus on what we do best: support our agents and advisors.”

Each of Simplicity’s 43 operating businesses is directed by its local management team and benefits from access to Simplicity’s group resources, said Donaldson. “Through partnership with top distribution organizations and technology companies, Simplicity seeks to provide compelling business solutions that will attract the industry’s best leadership, talent, advisors, agents and future partners,” he said.{/mprestriction}