Protective Life to Combine Insurance and Financial Planning Affiliates into Single Entity
Protective Life Corporation plans to combine its insurance and financial planning affiliates into a single organization dubbed Concourse Financial Group.
Protective Life Corporation plans to combine its insurance and financial planning affiliates into a single organization dubbed Concourse Financial Group.
Concourse is expected to launch on July 19, 2021, and will include ProEquities, an independent broker-dealer and registered investment adviser; First Protective, a brokerage general agency that specializes in risk management; and Protective Distributors, a division that supports life insurance distribution.
The combined firm will be headed by chief executive officer, Doyle Williams, a financial services industry veteran with 40 years of experience in both the insurance and wealth management segments. He currently serves as senior vice president of distribution companies with Protective.
“A unified organization positions us for growth and allows us to stay ahead of the curve in addressing the fast-changing dynamics of today’s financial services environment,” said Williams. “Most importantly, the shared strategic vision and service culture of the businesses that comprise Concourse underscore our ongoing commitment to deliver an extremely high-touch service experience for our financial and insurance professionals.”
Key executives at Concourse will include:
- Libet Anderson, president of ProEquities, will serve as president of investment solutions
- Brad Mendenhall, vice president and managing director of Protective Distributors, will serve as president of insurance solutions
- David Perry, chief operations officer for the Protective Distribution Companies, will serve as COO
- Darren Guerrera, chief financial officer for ProEquities, will serve as CFO
Upon completion of its launch, Concourse will encompass an RIA, broker-dealer, brokerage general agency, and “protection-focused point-of-solution organization.” The firm will offer insurance services, comprehensive financial planning, investment services and practice management.
Protective Life Corporation, a wholly owned subsidiary of Dai-ichi Life Holdings, provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. As of December 31, 2020, the firm had assets of approximately $127 billion.
