Simplicity continues impressive growth with acquisition of Dempsey Cos.

Summit-based Simplicity Group Holdings has acquired the Dempsey Cos., a a nationally recognized insurance brokerage that operates under the Dempsey brand, according to a Monday announcement.

With this transaction, Kay Dempsey becomes a Simplicity partner.

“We are thrilled to welcome Kay Dempsey and her team, who are nationally recognized for their years of service, successfully navigating effective solutions for advisers to high net worth families and businesses,” Bruce Donaldson, CEO and president of Simplicity, said. “Kay’s stature and accomplishments in our industry has earned a reputation of being a fierce advocate for financial advisers and the complex risks of their clients. We look forward to her leadership in our goal of building the leading financial services distribution organization in the U.S.”

“The opportunity to join Simplicity and access diversified resources and expertise will allow us to bring greater value to financial advisers in the differentiation and growth of their practices. I am very excited for my colleagues, Michael Gayman and John Peterson, who will become equity partners in Simplicity, as a part of the transaction,” Kay Dempsey said.

Donaldson said Simplicity has built an integrated financial products distribution business by combining the best of annuity, life insurance, wealth products and support functions.