Brookstone Capital changes ownership structure.
Brookstone Capital Management (BCM) decided to restructure its ownership after years of growth.
Since 2009, BCM had been a wholly owned subsidiary of Producers Equity Group (PEG), a holding company that built a platform for independent financial advisors by integrating fixed insurance products, securities and managed money. As of January 2013, BCM will be operated solely by its co-founder, Dean Zayed.
In its six years of operating, BCM has grown to approximately 200 investment advisor representatives across the country and more than $550 million in assets under management (AUM). In 2012, BCM had an AUM surge of more than 55 percent.
In other industry news:
Hub International Limited (Hub) acquired San Diego-based insurance brokerage firm Intercare Insurance Solutions, Inc. Terms of the acquisition were not disclosed. Intercare will become part of the California operations of Hub International Insurance Services (Hub California). Mike Barone, president and CEO, will join Hub, reporting to Kirk Christ, president, Hub California. Intercare provides employee benefits consulting and brokerage services in addition to property and casualty and 401(k) retirement plan consulting.
The Guardian Insurance & Annuity Company, Inc. (GIAC) introduced the Guardian SecureFuture Income Annuity, a deferred income annuity product designed to provide a future stream of guaranteed lifetime annuity payments.
With a minimum initial premium payment of $5,000, annuity owners of the Guardian SecureFuture Income Annuity can begin receiving lifetime payments, backed by the claims paying ability of GIAC, at a predetermined future date chosen by the annuity owner within the rules of the annuity.
Annuity owners are able to make additional premium payments to increase their future lifetime income up until 13 months before the income start date and can benefit from a variety of annuity features to meet their current or future income needs.
The lifetime annuity payments are calculated based on certain characteristics of the annuitant, such as age at the time of any premium payment and gender; the Lifetime Annuity Payment Option; the amount of time before the annuity payments begin; the frequency of the annuity payments; and the purchase rates in effect at the time of initial premium or any additional premiums made thereafter. The annuity owner can choose to receive payments on a monthly, quarterly, semiCEannual or annual schedule with the flexibility to change the frequency at any time up until the day before the first payment is made.
GIAC is a wholly-owned subsidiary of The Guardian Life Insurance Company of America.
Interactive Health launched Healthy Triumph, a preventative screening program to detect employees' risks as soon as possible and to support employers as they respond to health care reform mandates specific to wellness and preventive care.
Within 48 hours of the health evaluation, Interactive Health's physicians and health coaches contact all participants with critical health issues and assist them with contacting a physician for appropriate follow up care. Health coaches begin immediate outreach to individuals with newly discovered health issues and those with the following conditions: metabolic syndrome, pre-diabetes, diabetes, elevated cholesterol and hypertension.
The program also enables employers to reward their employees for proactive health management. Participants earn points for completing healthy actions such as meeting a personal health goal that is measured by the following risk factors: blood pressure, LDL cholesterol, glucose, triglycerides and tobacco use. The program uses online tools and mobile applications that enable participants to monitor their progress, maintain food and exercise logs, create social networks and compete in team challenges.
Premier Companies, Inc. hired Todd W. Morrissey as its first national marketing director.
Morrissey brings more than 20 years of experience in the insurance industry as a career agent, marketing director and executive.
Morrissey has worked such insurance companies as Mutual of Omaha and UnitedHealthcare. He brings a vast knowledge of the Medicare Advantage, Medicare Supplement and Part D products as well as experience in the long-term care and final expense areas.
The New York Life Foundation increased its 2013 charitable giving budget to $14.5 million, a 7 percent increase over last year's budget of $13.5 million. The increase will support programs in the Foundation's focus of "Nurturing the Children," particularly in the areas of educational enhancement and childhood bereavement. This is the third consecutive year the Foundation's budget has increased.
Since 2008, when the Foundation expanded its focus to include childhood bereavement, more than $10 million has gone to nonprofits that provide this kind of support. The Foundation also created a bereavement guide and a website, www.achildingrief.com, which offers articles and resources for families and educators to help a child cope with the death of a loved one.
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|Publication:||National Underwriter Life & Health Breaking News|
|Date:||Jan 31, 2013|
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