Summit-based Simplicity Group Holdings announced on Tuesday it has acquired Houston-based Fidelity Financial Group, an insurance distribution company.
Effective immediately, FFG will begin transitioning to the Simplicity Houston brand. The firm also welcomed Terry Feuchtinger and Reid Juul as new principals.
“We are delighted to have Terry, Reid and their team as part of the growing Simplicity platform,” Bruce Donaldson, CEO and president, Simplicity, said. “FFG has been a leader in providing financial professionals with top-tier products and business support in the independent wholesaling space.”
Under terms of deal, FFG will operate with its existing team and be led by Feuchtinger and Juul. The transaction was completed on March 31.
“We are elated to join Simplicity,” Feuchtinger said. “This partnership allows us to expand our carrier relationships and provide our advisors with access to more products, new technologies, additional marketing and training resources, and enhanced back office support.”
Financial terms of the deal were not disclosed.
“Simplicity is giving us a heightened ability to strategically grow and manage our business and we are energized and excited about the value this will bring to our existing advisors and agencies,” Juul said.
