Summit financial product network acquires Minnesota provider

Simplicity Group, a Summit-based financial product distribution network, has acquired a Minnesota-based provider of insurance, annuity and other products, it announced this week.

The deal for Advisors Resource LLC marks the 26th distribution business to join Simplicity, the firm said in a news release. Advisors’ founder and principal, Tim Mastel; principal, Dave Wohlwend; and chief growth officer, Tom Burns, will become partners with Simplicity and continue the day-to-day management of the business.

“Under Tim and Dave’s direction, Advisors Resource has built a strong reputation for outstanding partnership and service in driving their agents’ businesses forward,” Simplicity CEO and President Bruce Donaldson said in a prepared statement. “By adding industry leader Tom Burns to an already-strong team, Advisors Resource has accumulated a collective business acumen and customer-centric vision that aligns with Simplicity’s approach. We are thrilled to welcome Tim, Dave, Tom and their teammates to Simplicity.”