An Atlanta-based wealth management firm focused on retirement income has completed another acquisition of an annuity book of business, buying out a Missouri-based insurance professional as part of what the company describes as a systematic strategy to absorb the practices of retiring advisors nationwide.
Ty J. Young Wealth Management said Tuesday it has acquired Senior Insurance Services, an annuity-focused practice operated by Eric Rudd in Washington, Missouri.
The deal transfers Rudd's book of business to the Atlanta firm, which manages more than $1 billion in assets and serves approximately 10,000 clients across the country. Financial terms were not disclosed.
The transaction is the latest in a series of acquisitions by Ty J. Young Wealth Management, which was founded in 1998 by Ty J. Young and has made the purchase of retiring advisors' annuity books a core element of its growth strategy.
"We acquire annuity books with a commitment to making each transition personal and seamless," Young said in a statement.
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