The Simplicity Group has closed on its 38th acquisition by adding Element Insurance Partners, an independent insurance brokerage agency based in Omaha, Nebraska, to its brand, according to a Tuesday announcement from the Summit-based firm.
With this deal, Simplicity welcomes Troy Woods as a partner. He will continue to manage the day-to-day business operations of Element while transitioning to the Simplicity brand.
“Troy Woods is a well-respected leader with a long history of building and cultivating strategic relationships for the benefit of his clients, and we are proud to now call him ‘partner,'” Bruce Donaldson, CEO and president of Simplicity, stated. “Troy has grown Element into a strong organization, and we are excited to help him continue to serve his advisers, offering a broader array of products and expanded marketing and sales support.”
“I have worked in this industry for more than three decades and am excited for all the opportunities that this partnership with Simplicity brings,” Woods said in a prepared statement. “Simplicity is a strong national organization with an impeccable reputation. Becoming a partner allows me and my team to better serve our independent agents, financial planners, wealth managers and other trusted advisers with diversified products and resources to support their growth.”
The Simplicity Group is one of the fastest-growing financial product distribution companies, which has had 38 distribution businesses join its partnership (including Element).
