The strategic partnership allows the companies to better serve their employees, partners and communities.
AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, has acquired Senior Market Advisors (SMA), one of the fastest-growing FMOs in the insurance space. The unique partnership combines AmeriLife’s scale and industry experience with SMA’s innovative approach; together the companies will be able to help their partners thrive.
“SMA’s commitment to community perfectly aligns with our own company mission — to offer insurance and retirement solutions to provide peace of mind and help people live longer, healthier lives,” said Scott R. Perry, AmeriLife Chairman and CEO. “With our national network and SMA’s powerful tools that help agents and agencies put their clients’ well-being first, we’re positioned to make a meaningful difference to the communities we serve.”
The acquisition comes as AmeriLife celebrates its 50th anniversary and continues to grow its footprint. AmeriLife’s distribution network includes more than 200,000 agents nationwide, over 60 insurance agency offices, and more than 35 affiliate locations. Through multiple sales channels, the company provides consumers with insurance and retirement planning solutions to purchase what they need, when they need it, and how they want to buy it (phone, in person, or online).
Over the past four years, SMA has expanded to cover 43 states and has grown the number of agents and agencies it serves by 60%. The company has been featured on the Inc. 5000 list of fastest-growing private companies several times.
The partnership with AmeriLife will also enable SMA to give even more back to their employees and reinvest in their partners. SMA will reinvest $10 million in its agency partners, helping them continue to grow their businesses.
“We are committed to developing pioneering technologies that empower our insurance agent partners to exceed their clients’ needs,” said Jeff Pitta, CEO of SMA. “This partnership with AmeriLife enables us to reach more agents and agencies and accomplish more than we ever could on our own.”
SMA’s innovative roots will enable both companies to improve their technology structure. AmeriLife partners will now have access to unrivaled, best-in-class Salesforce-enabled CRM systems, which will allow them to better serve their clients through industry integrations that allow for real-time data access.
Putting people over profit is an essential part of both AmeriLife and SMA’s mission statements, and the companies have each invested a great deal in giving back. Since 2018, SMA has worked with charity: water to help bring safe drinking water to communities. This partnership will enable SMA to commit $10 million over five years to bring clean water to people in Uganda. AmeriLife has worked with Feeding America to feed 1 million people since October 2019 and has given $1 to Feeding America for every enrollment on the YourMedicare Enrollment Center. In recognition of this new partnership, AmeriLife is committing to doubling the number of people fed in 2021 to 2 million. The companies will be issuing a separate announcement providing more details of their philanthropic commitments in the coming weeks.
To learn more about the partnership or how SMA is reinvesting $10 million in its agency partners to help them continue to grow their businesses, follow SMA on Facebook and LinkedIn or sign up to be contacted by a member of the SMA team.