Atlanta Life to manage investments.Establishes holding company, diversifies to offer asset-management services Recognizing the need for progressive growth and expansion, Atlanta Life Insurance Co. has formed the Atlanta Life Financial Group Inc., a new holding company that allows the nation's second largest black-owned life insurance company (No. 2 on the BE INSURANCE COMPANIES list with $194 million in assets) to become a full-service financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organization. The 96-year-old company will be made up of the original Atlanta Life Insurance Co. and ALIC ALIC Advanced Learning Infrastructure Consortium ALIC Arid Lands Information Center ALIC Allstate Life Insurance Company ALIC Aircraft Launcher Interface Computer ALIC Asset Limited, Income Constrained Investment Advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and L.L.C., a new entity that will offer asset-management services to institutions, high-net-worth individuals, and retail customers. Establishment of the holding company was approved by Atlanta Life's board of directors in May. Atlanta Life President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Charles Cornelius says that the company will hire professional investment advisors, as well as explore relationships with asset management firms This is a list of corporations that provide financial asset management.
"We plan to expand on our mission of building wealth in the communities we serve," says Cornelius. "We have more than 450,000 policyholders and solid institutional customers who have suggested that this is an arena that we should get into and [that could be of service to them]." The Financial Modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, Act of 1999, which allows banks, brokerage, and insurance firms to expand into one another's businesses, now allows Atlanta Life to offer a myriad Myriad is a classical Greek name for the number 104 = 10 000. In modern English the word refers to an unspecified large quantity. The term myriad is a progression in the commonly used system of describing numbers using tens and hundreds. of investment advisory products. Cornelius says the company will also offer updated insurance products. But to compete with other financial services firms, Atlanta Life's reputation with its core policyholders will be its best weapon. "We have brand equity," explains Cornelius. "The Atlanta Life name has been in our customers' households for generations. We've developed trust with our customers. They trust Atlanta Life, and look to us to educate them in this area. It puts us in a unique position to help." |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion