Integrated Insurance Solutions acquires Appel Insurance Advisors

Integrated Insurance Solutions has acquired Appel Insurance Advisors, adding a seasoned team of insurance and estate planning specialists to a platform already serving financial advisors, registered investment advisors, and independent practices across the United States.

The deal strengthens the firm's capacity to deliver life insurance, disability income protection, long-term care, and estate and business planning strategies at a level of complexity that most advisory practices cannot easily replicate.

Integrated Insurance Solutions holds itself out as a specialized insurance consulting, advisory, and distribution firm providing life insurance, disability insurance, annuity, and long-term care solutions to financial advisors, RIAs, and institutions nationwide. It's the dedicated insurance and avanced planning resources for advisor affiliates of Integrated Partners, as well as independent advisors and professional financial services firms.

David Appel, founder of Appel Insurance Advisors, brings more than 30 years of experience working with business owners and high-net-worth and ultra-high-net-worth clients on life insurance, executive benefits, disability income, and long-term care planning. His practice has been recognized for technical depth and a relationship-driven approach – qualities that Integrated Insurance Solutions sees as directly complementary to its existing platform.

"This is about bringing together two complementary perspectives to better support advisors and their clients," said Peter Kaplan, executive vice president and head of planning and insurance solutions at Integrated Partners.

Read more: What advisors and wealth firms gain from CPA partnerships

Appel said the acquisition preserves the philosophy that has defined his practice.

"We've always believed insurance planning should be thoughtful, educational, and fully aligned with a client's broader financial strategy," he said. "Now, we can bring that approach to more advisors while continuing to support the relationships we've built over the years."

According to a recent Cerulli Associates report, .64% of advisors who offer financial planning identify staff shortages in planning-capable personnel as a moderate or major challenge. Advisors in Cerulli's research also project that 54% of their clients will be receiving comprehensive, ongoing planning advice by 2027, up from 48% currently.

Among high-net-worth practices Cerulli surveyed, 29% said they include risk management and insurance as a primary service, and 19% had it as a secondary offering. A larger 29% share of HNW practices said they outsource that aspect.

Read more: High-net-worth individuals and families have worrying gaps in their financial security

The combined firm will serve Integrated Partners' affiliated financial advisors as well as Appel's existing client base, and will extend its capabilities to independent advisors, RIAs, family offices, CPA firms, and attorneys who lack dedicated insurance planning resources in-house.

Research from the Corebridge Financial Understanding Life Insurance Needs survey found that half of Americans do not have life insurance. That's led to a substantial confidence gap: 47% of Americans with life insurance said they were completely or very confident their spouse or dependents could manage financially without them, compared to just 28% of those without coverage. 

"As client circumstances become more complex, advisors need deeper expertise and a more integrated approach to risk management," Kaplan said.