Consolidation activity is continuing in the managing general agency channel. Experior Financial Group, an MGA headquartered in Guelph, Ontario, has announced that it will acquire “certain assets” of VFG Financial Group, an MGA based in Etobicoke, Ontario. VFG’s business will be merged into Experior.
“Business will continue as usual”, says Jamie Prickett, CEO of Experior Financial Group. He adds that VFG’s brokers will “benefit from increased markets, an improved back office broker system, the Experior Success Academy learning system and the Experior TriBrid Business Opportunity.”
“This transaction represents the second acquisition/merger of this type as Experior continues to branch out within the small MGA market”, says Shelden Smollan COO of Experior. “The Experior value proposition is to provide small MGAs a unique opportunity to grow organically within their market without any need for infusion of capital. They will be able to focus on recruiting new advisors using the Experior Tribrid Business Opportunity.”
Smollan adds that Experior expects to announce further acquisitions in the future. Experior now works with 400 advisors.