As part of a series of actions to strengthen its market position and strategy, The Phoenix Cos. Inc. formed a distribution company. Saybrus Partners Inc. will provide dedicated consultation services to partner companies, as well as support for Phoenix’s product line within its own distribution channels.
“Establishing Saybrus is an important first step in executing our growth strategy, which includes leveraging our existing capabilities in innovative ways,” says James Wehr, president and CEO of Phoenix. “Through Saybrus, we can leverage our exceptional life insurance expertise, our solutions-based approach, and our proven ability to support financial advisors.”
The new distribution company has an agreement with financial services firm Edward Jones to provide life insurance consulting services to the firm's financial advisors. Saybrus’ wealth management consultants will work with more than 11,700 Edward Jones financial advisors, helping them match insurance products to meet their clients' needs. The initial three-year agreement focuses Saybrus consultants on two new insurance carriers in the Edward Jones retail distribution network, John Hancock Life Insurance Co. (U.S.A.) and Pacific Life Insurance Co., both of which have a selling agreement with Edward Jones.
“Saybrus is well-positioned to provide companies like Edward Jones with a comprehensive and effective sales organization that has both wholesaling and ‘assisted sales’ expertise,” says Edward Cassidy, managing principal of Saybrus. “We are delighted to partner with one of the most widely and highly respected financial services firms in the industry to give them one-on-one support to help their financial advisors solve their clients’ insurance needs.”
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