Founded in 2006, Brookstone Capital Management (BCM) is an SEC-Registered Investment Advisor (RIA) firm providing fee-based asset management services through its niche network of more than 400 financial advisors and firms. As an open-architecture Turnkey Asset Management Platform (TAMP), Brookstone offers advisors a wide array of investment strategies. Founder and CEO Dean Zayed established Brookstone with the singular goal of forging strategic relationships with independent retirement advisors to comprehensively support all aspects of their fee-based advisory business. The company manages more than $2.95 billion, as of Dec. 31, 2019.
Founded in 2011, FormulaFolios is an RIA using money management algorithms to eliminate emotion from the investment process and enable financial advisors to better serve their clients. Founded by Jason Wenk, FormulaFolios serves hundreds of financial advisors and thousands of clients nationwide and, as of Dec. 31, 2019, manages nearly $3.64 billion in assets. It has offices in Grand Rapids, MI and Costa Mesa, CA.
Brookstone and FormulaFolios are premier RIAs for retirement-focused advisors. Both companies share similar philosophies and have invested heavily in the services they offer to their advisor-clients. Combining resources, technologies and investment solutions will create a more comprehensive, cost-efficient advisor experience. The merger will also create one of the largest independent RIAs in the industry with accelerated growth opportunities.
As of now, there are no plans to close, move or merge locations.
There will be no immediate impact on your business, existing services or partnerships. In time, you will see a positive impact as you will have the resources from both firms available to enhance your practice.
No, all current investment offerings and strategies from both firms will remain unchanged. As the firms integrate, additional investment options will be made available to you to use as you see fit.
Dean Zayed will be the CEO of the combined business and Darryl Ronconi will be president and COO. Jason Wenk will serve as Executive Director, Jason Crump as the VP of Relationship Management and Joel VanWoerkom as VP of Operations.
There will be no immediate changes that impact clients. Over time, more investment options will be made available to you, which in turn can offer you more flexibility in meeting your client’s needs.
Clients will receive a written notification within 30 days of the ownership change, as legally required. Additionally, we will provide you with a compliance-approved letter that can be sent to clients on your behalf. This letter will emphasize that there will be no impact on investment models and their continued service with you.
There will be no differences in statements or communications.
AmeriLife is an equity partner of Brookstone Capital Management. AmeriLife is backed by private equity firm Thomas H. Lee Partners, L.P. These strategic relationships allow Brookstone and FormulaFolios to make considerable investments into the growth and evolution of the RIA. There is no contracting requirement by affiliated advisors to work with AmeriLife for insurance. If you are insurance licensed, you can continue working with the insurance marketing organization that best fits your needs.
AmeriLife is a national leader in developing, marketing and distributing life and health insurance, annuities and retirement planning solutions to enhance the lives of pre-retirees and retirees. For nearly 50 years, AmeriLife has partnered with the nation’s leading insurance carriers to provide value and quality to customers served through a national distribution network of over 140,000 insurance agents and advisors, 20 marketing organizations,and 50 insurance agency locations.
Thomas H. Lee Partners, L.P. (THL) is a private equity firm headquartered in North America. THL focuses its investment activity across four industry sectors: Financial Services, Consumer, Healthcare and Technology & Business Solutions. Since its founding in 1974, THL has raised more than $25 billion of equity capital, invested in over 140 companies and completed more than 360 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion. With dedicated sector and operating teams, THL brings deep domain expertise and resources to build great companies by helping to accelerate growth, improve operations and drive long-term sustainable value in partnership with management.