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800+ Fixed/Indexed Annuity Book of Clients, $82MM AUM
Newport Beach, CA – (Orange County)
Seller Financing Available!

  • Asking Price: $1,200,000
  • Cash Flow: $500,000
  • Gross Revenue: $600,000
  • FF&E: N/A
  • Inventory: N/A
  • Established: 2004

Business Description

800+ Fixed/Indexed Annuity Book of Clients, $82MM AUM – Through exceptional customer service and marketing via seminars this Company has grown into a turnkey enterprise for someone looking for a stable, profitable book of happy annuity clients that can be swallowed whole.

Easy integration as all files sit in the Seller’s online database system for a seamless data dump post Closing, not to mention the thousands of client files/leads that did not convert which include the family net worth snapshot, contact information, etc…that can be mined for future conversions. 80% of the clients are located 25 miles from Newport Beach home territory, 60% of new business comes from existing satisfied client referrals. Many accounts have funds available now and upcoming and are ripe for consultations from a Buyer that may have a more diversified product offering or set of products that can help preserve and grow their wealth. 80% commission based, average age of client is 65, average net worth of 75% of clients is $1.5MM. Revenue is 70% annuities, 20% alternative investments and 10% life insurance.

NDA is required for further details from ProNova Partners.

Detailed Information

  • Facilities: Portable within Orange County, on a month to month lease presently, Buyer doesn’t need to absorb the space to maintain revenue/income. (Home Based)
  • Competition: Competition is strong in this industry, but the premium service that the Seller provides his client base keeps them happy, long term relationships.
  • Growth & Expansion: Owner isn’t a RIA so cannot sell securities to his clients. Large upside for that play within this client book.
  • Financing: $600K down and $10k/ Month for 60 Months at 0% interest!
  • Support & Training: As needed.
  • Reason for Selling: Other business interests.

Bright Outlook!

For a larger company with RIA accreditation looking to grow without putting years into client development, and has a complimentary existing client base, and an advertising budget to reach a larger local audience, the Seller believes the potential to double revenue exists.

Market Demographics and Opportunity: Orange County, California has a population of 3.17 million people with a median age of 37.7 and a median household income of $81,837. Between 2015 and 2016 the population increased by 0.09% while its median household income grew by 4.35%. The median property value in Orange County is $654,400, and 56.6% are homeowners.

The most affluent cities with the highest household incomes in Orange County include: Aliso Viejo, Newport Beach, Dana Point, Mission Viejo, Irvine, San Clemente, Laguna Beach, Yorba Linda.

Industry Overview:

Fixed/Indexed Annuities providers generally fall under the business category of insurance agencies, brokerages and carriers. Although, the overall insurance industry can claim approximately 134,000 establishments (single-location companies and units of multi-location companies) generate annual revenue of about $130 billion. Not all of them offer wealth management services. Insurance agents became legally capable of selling financial planning services following deregulation of the market through the Gramm-Leach-Bliley Act of 1999, which allowed the insurance industry to sell financial products.

Agents can become licensed to sell mutual funds, variable annuities and other securities, and many captive agents were encouraged to branch out into this area by the carriers they represented. As insurance and financial products have become more complex, agents are an important source of information regarding these products. One consequence of the financial crisis of the late 2000s is that insurers are subject to more regulation aimed at creating greater transparency and stability within the financial services industry.

The Dodd-Frank finance reform laws of 2010 enact new rules to govern insurer risk and capital management practices. Life insurance companies are impacted by principles-based requirements, which mandate new methodologies for calculating reserves to prevent insolvency. Regulation In the US, insurance companies and agencies are regulated by individual states. Individual insurance agents must be licensed by the state in which they do business.

The Gramm-LeachBliley Financial Services Modernization Act of 1999 has sharply affected the insurance industry by allowing the combination of insurance and other financial services firms under a holding company structure. The act effectively allowed banks and brokerage firms to market insurance products sold by their affiliates, and vice versa. Strong Brand Recognition- Representing well-thought-of brands can help agents bring value to clients with strong policies, support tools, and referral networks.

Traditional insurance products sold by agents and brokers make up the majority of revenue at most insurance companies, as fewer agents and brokers focus on annuities and title insurance. Specialty business practices or Agencies may specialize in serving certain groups with specific needs such as wealthy clients, farmers, or social/recreational club members. Insurers may also compete with asset managers, unaffiliated broker-dealers, and other financial service companies. Life insurance agencies sell single or joint policies, whole life, term life, or variable life policies, among other products.

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Pronova Partners

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