Brokerdealer.com blog update profile broker dealer firm, Raymond James Financial Inc, making big moves in the industry as it announced Friday, that it would acquireing The Producers Choice. This move made Friday will help the broker dealer firm gain greater control over the way annuities are wholesaled to advisers. This brokerdealer.com blog update is courtesy of InvestmentNews’ article, “Raymond James bolsters indexed annuities and life wholesaling with acquisition“, by Darla Mercado. With an excerpt from the article below.
Looking to step up its indexed annuities and life wholesaling game, Raymond James Financial Inc. announced Friday it would acquire The Producers Choice, an insurance marketing organization.
The deal is expected to close mid-summer, and Producers Choice will act as part of Raymond James Insurance Group. Sixty Producers Choice employees will join the firm.
The acquisition addresses two major objectives for Raymond James, which has partnered with Producers Choice for nine years: It gives the broker-dealer greater control over the way annuities are wholesaled and marketed to Raymond James’ advisers, and the firm will have the opportunity to work with Producers Choice’s client base of independent insurance agents, broker-dealers and banks.
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