Simplicity Group Holdings ("Simplicity"), a leading financial products distribution business, today announced that it has entered into an agreement with Lee Equity Partners ("Lee Equity") pursuant to which Lee Equity will become the new majority owner of the company. The transaction is expected to close by the end of 2020 subject to regulatory approvals.
Simplicity provides retirement-planning and wealth advisory solutions, including annuities, life insurance, and investments, to independent financial advisors, insurance professionals, and their clients through its operating subsidiaries. Simplicity has acquired and owns 15 distribution businesses and is one of the nation's largest and fastest growing financial product distribution companies. Simplicity is headquartered in Summit, NJ with ~250 employees and 27 Principals across the U.S. Lee Equity is excited to help Simplicity drive the next phase of its growth and continue to recruit industry-leading Principals to the partnership.
Advising Simplicity on this transaction builds on Waller Helms Advisors’ strong momentum in the Investment Services sector. Other recent Investment Services engagements include the sale of CUSO Financial Services and Sorrento Pacific Financial to Atria Wealth Solutions, and LNC Partners' recapitalization of Prime Capital Investment Advisors.