Allegis Advisor Group

Background

Founded in 2009 by Chris Miller, Allegis Advisor Group is an independent insurance marketing and financial planning firm headquartered in South Jordan, Utah. The company is dedicated to supporting independent financial advisors nationwide by providing comprehensive tools, training, and concierge-level support to help clients achieve their retirement and financial planning objectives. Allegis offers a wide range of services, including life insurance, Medicare planning, fixed and indexed annuities, disability income, long-term care insurance, linked benefits, and group insurance. The firm's mission is to empower advisors with the resources necessary to deliver exceptional value to their clients.

Key Strategic Focus

Allegis Advisor Group focuses on enhancing the efficiency and growth of independent advisors' practices through:

• Practice Development: Offering tools and training to help advisors expand their client base and develop their teams.

• Marketing Support: Providing brand development assistance and turnkey marketing systems.

• Back-Office Services: Access to experts for new business and case management, case design, underwriting, and advanced markets.

• Product Access: Offering a diverse array of carrier access and product categories, including life, disability, long-term care, annuities, and linked benefits.

• Digital Tools: Providing a robust advisor portal for on-demand access to tools and training.

These strategic initiatives aim to simplify business processes for advisors, allowing them to focus more on client relationships and service delivery.

Financials and Funding

In September 2022, Allegis Advisor Group was acquired by Simplicity Group, a leading financial product distribution firm. This acquisition marked Simplicity's 43rd partnership and aimed to integrate Allegis's capabilities into Simplicity's broader platform. The financial terms of the acquisition were not publicly disclosed.

Pipeline Development

Allegis Advisor Group has expanded its service offerings through strategic acquisitions:

• Beacon Financial Inc. (October 2020): This acquisition integrated Beacon's Medicare planning program, enabling affiliated advisors to incorporate Medicare planning into their services.

• Brokerage 360 and Premium Finance Advisors: These acquisitions added new talent and scaled the business to provide greater services and resources to affiliated advisors.

These developments have enhanced Allegis's ability to offer comprehensive financial solutions to advisors and their clients.

Technological Platform and Innovation

Allegis Advisor Group distinguishes itself through:

• Advisor Portal: A robust digital platform providing on-demand access to tools and training.

• Digital Marketing Systems: Turnkey solutions for branding and lead generation.

• Virtual Training Events: Live, virtual, and on-demand sales training and educational events.

These technological platforms support advisors in efficiently managing and growing their practices.

Leadership Team

The leadership team at Allegis Advisor Group includes:

• Chris Miller: Founder and President, with an extensive background in financial services.

• Brian Pierce: Vice President of Finance & Operations.

• Eric Stuart: Vice President of Life Insurance Distribution.

• Nate Williams: Vice President of Annuity Distribution.

• Byron Rasmussen: Vice President of Underwriting.

• Jeff C. Lewis: Vice President of Business Development.

This team brings a wealth of experience and expertise to the organization, driving its strategic initiatives and growth.

Leadership Changes

In September 2022, following the acquisition by Simplicity Group, Chris Miller and Brian Pierce joined Simplicity as partners. The day-to-day operations of Allegis continue to be managed by Chris Miller and his leadership team.

Competitor Profile

Market Insights and Dynamics:

The financial services industry is highly competitive, with numerous firms offering similar services. The market is characterized by a focus on technological innovation, comprehensive service offerings, and strategic partnerships to enhance client value.

Competitor Analysis:

Key competitors include:

• Bny Mellon: A global investments company providing investment management and investment services.

• Barclays: A British multinational investment bank and financial services company.

• American Express: A multinational financial services corporation known for its credit card, charge card, and traveler's cheque businesses.

• Morgan Stanley: A leading global financial services firm providing investment banking, securities, wealth management, and investment management services.

• JPMorgan Chase & Co.: A multinational investment bank and financial services holding company.

• PNC Financial Services Group: A bank holding company and financial services corporation.

• BB&T (now Truist Financial): A bank holding company offering consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

These competitors have established market positions and offer a range of financial services that overlap with Allegis's offerings.

Strategic Collaborations and Partnerships

Allegis Advisor Group has engaged in significant collaborations to strengthen its market position:

• LIBRA Insurance Partners: A partnership providing access to robust, proprietary resources, including expansive underwriting capabilities, advanced case design support, sales and product benchmarking tools, and turnkey sales and marketing systems.