The Simplicity Group continued its fast-track growth with the acquisition of Element Insurance Partners, an independent insurance brokerage agency based in Omaha. The deal, announced June 21, is the 38th of its kind for the Summit-based retirement planning company.
As part of the transaction – terms of which were not disclosed – Element President Troy Woods will come on board as partner and continue to manage the day-to-day operations of the firm, which will transition to the Simplicity brand.
In a statement, Simplicity President and CEO Bruce Donaldson complimented Woods as “a well-respected leader” in addition to highlighting his work growing the agency, saying, “we are excited to help him continue to serve his advisors, offering a broader array of products, and expanded marketing and sales support.”
Woods added, “I have worked in this industry for more than three decades and am excited for all the opportunities that this partnership with Simplicity brings.”
Woods described Simplicity as “a strong national organization with an impeccable reputation” and said the new partnership will allow his team to better serve their independent agents, financial planners, wealth managers and other advisors.
Simplicity also recently announced the acquisition of the Eagle Team, based in Minnesota, and its 36th acquisition on May 5 of Blue Ocean Financial Network, based in Northern California.
