Protective Life, a wholly owned US subsidiary of Japanese insurer Dai-ichi Life, has formed an RIA named Concourse Financial Group.
The newly formed entity, set to launch on 19 July 2021, brings together Protective’s insurance and financial planning affiliates.
It consists of independent broker-dealer and RIA business ProEquities, brokerage general agency First Protective and Protective Distributors, a division that supports life insurance distribution.
The unified group will provide insurance services, comprehensive financial planning, investment services and practice management.
Protective Life said that the launch of Concourse will drive increased scale and seamless integration, resulting in enhanced capabilities, better service and more coordinated expertise.
Protective has appointed Doyle Williams CEO of Concourse.
Williams, who has 40 years of experience in the insurance and wealth management segments, is currently senior vice-president of Protective Distribution Companies.
Williams said: “A unified organisation positions us for growth and allows us to stay ahead of the curve in addressing the fast-changing dynamics of today’s financial services environment.
“Most importantly, the shared strategic vision and service culture of the businesses that comprise Concourse underscore our ongoing commitment to deliver an extremely high-touch service experience for our financial and insurance professionals.”
In connection with the development, Protective has named Libet Anderson as president of Investment Solutions and Brad Mendenhall as president of Insurance Solutions.
Additionally, current Protective Distribution Companies COO David Perry will become the COO of Concourse while ProEquities CFO Darren Guerrera will take up the role of CFO.
According to Protective, a centralised Concourse team will serve as an extension of a financial professional’s practice.
This team will coordinate access to experts in the vital segments, enabling them to customise financial plans, deliver a complete wealth management and insurance offering, and better serve clients.
Williams added: “Our team takes great pride in the relationships we have built with our community of incredible financial professionals and we are energised by the possibilities ahead.
“Ultimately, this endeavour is about meeting every financial professional where they are now in the evolution of their business and helping them get to where they want to go in the future.”