Specialty insurance brokerage and risk management firm Risk Strategies has announced the acquisition of IZALE Financial Group, an Illinois-based executive benefits and financial services advisory firm. The terms of the deal have not been disclosed.
Founded in 2010 by CEO Scott Richardson, IZALE Financial Group specializes in providing insurance-based executive compensation solutions and wealth liquidity programs for banks, credit unions, businesses, and families. The firm offers a range of services, including bank-owned life insurance, corporate-owned life insurance, nonqualified deferred compensation plans, business continuation, and estate planning.
“Scott has created a firm of experts with deep knowledge of corporate, banking and credit union insurance, as well as experience serving high-net-worth individuals,” said John Greenbaum, executive vice president at Risk Strategies. “Their expert approach and client-first culture is a great fit and we’re excited to welcome them to the Risk Strategies family.”
Over the years, IZALE Financial Group has successfully designed and implemented more than 1,100 benefit plans for clients across 30 states and the District of Columbia. Additionally, the company serves as a co-investment advisor for certain qualified plans of their clients.
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“I was looking to partner with a national-scale firm that understood the power of deep expertise to drive client and business success,” Richardson said. “Risk Strategies stood out as a true specialist. They’ve built success across multiple practice areas on this approach and I’m confident our people and clients will benefit from our joining together.”
IZALE Financial Group also provides retirement income analysis and specializes in corresponding compensatory programs such as supplemental executive retirement plans, split-dollar loans, and restricted executive benefits arrangements.
IZALE is the latest in a series of acquisitions for Risk Strategies. In May, the company announced the acquisition of Florida-based Combined Underwriters of Miami. Earlier this year, the company acquired Connecticut-based May, Bonee & Clark Insurance and Florida-headquartered Parady Financial Group.
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