Integrity Marketing Group, LLC, the nation’s largest independent distributor of life and health insurance products, recently announced it has completed the acquisition of McNerney Management Group (MMG).
As part of the acquisition, MMG’s four equity owners, Dan McNerney, David McNerney, Bobby Richardson and JoAnn Wray will become owners and partners at Integrity. Financial terms of the deal were not disclosed.
McNerney Management Group, headquartered in Columbia, Mo., provides life and health insurance to the senior market through two distribution divisions. Senior Marketing Specialists is MMG’s independent agent brokerage division supporting about 10,000 agents and is one of the largest Insurance Marketing Organizations (IMOs) in the country. Senior Benefit Services is MMG’s career agent group.
Combined, the two MMG divisions expect to produce over $180 million of annualized paid premium in 2020 while serving 82,000 Americans annually.
JoAnn Wray, President of Senior Marketing Specialists, and David McNerney, President of Senior Benefit Services, will continue to lead their organizations and become Managing Partners of Integrity. Dan McNerney, Bobby Richardson, JoAnn Wray and David McNerney will all join Integrity’s Board of Partners and leadership team.
“The growth and the leadership Integrity has demonstrated is beyond description,” said Dan McNerney, founder & retired CEO of MMG. “During these uncertain times, we’ve realized that if you’re not part of something substantial, it’s easy to become outdated. We saw the resources and relationships Integrity offers and knew it was the perfect time to become an Integrity partner. The most important part of our business is serving our clients and we look forward to delivering on that mission as part of the Integrity family.”
“The McNerney Management Group team and its divisions are all about treating people well, from their agents, brokers and employees to the seniors they serve nationwide, and they have become one of the market leaders by leading the right way,” said Bryan W. Adams, Co-Founder and CEO of Integrity. “Forward-thinking owners like Dan, JoAnn, David and Bobby recognize that an Integrity partnership connects them to prominent industry names while accelerating growth and diversifying their business. We are honored to embark on this partnership as we bring life and health insurance products to even more Americans.”
Dallas-based Integrity offers all partners participation in its Employee Ownership Plan, which provides meaningful company ownership to employees. MMG’s over 100 employees will be eligible to participate in the Integrity Employee Ownership Plan and be able to access Integrity’s other industry-leading benefits. MMG will also have access to Integrity’s exceptional platform of resources and infrastructure that help streamline business functions.
“We are now able to offer company ownership to every member of our team, which we never could have done on our own,” said JoAnn Wray, President of Senior Marketing Specialists and Co-Owner at MMG. “We want to keep growing, investing in our people and impacting this industry. We’ve watched the remarkable success of Integrity and we couldn’t be more honored to be a part of this organization.”
“A partnership with Integrity allows us to spend our time where we want to spend it: growing our company,” said David McNerney, President of Senior Benefit Services and Co-Owner of MMG. “We can tap into Integrity’s own advertising agency, ThomasARTS, for digital marketing, agent recruiting and consumer leads help. Extensive IT, HR and compliance resources are at our fingertips through the Integrity shared services that can help drive results for both our agents and our staff.”
“One of the most exciting aspects for McNerney Management Group is openly collaborating with the iconic network of other Integrity partners,” said Bobby Richardson, retired Co-Owner of MMG. “Now we have the chance to put our leaders in front of some of the most experienced minds in the insurance industry. Working with this group will help us take a quantum leap forward in sales and service.”
“The Integrity team continues to grow, bringing together the ‘who’s who’ in the industry,” said Steve Young, Chairman of the Board of Integrity. “McNerney Management Group and its leadership are well-known in the industry and its team shares our focus on serving more Americans and their families while taking care of our team members. We know Dan and his entire team will be a huge asset to the Integrity family.”
“Dan, JoAnn, David and Bobby are some of the best people in the insurance business and have been dear friends of all of us here at Integrity for many years. Being able to now call them partners makes this one of the greatest days of my career,” added Mike White, CEO of AIMC and Managing Partner of Integrity. “There is no telling what we’re going to be able to accomplish together!”
Integrity’s almost 1,000 employees work with over 270,000 independent agents who service over 5 million clients annually. In 2020, Integrity expects to help insurance carriers place almost $3 billion in new insurance premiums.
For more information about Integrity’s acquisition of MMG and its divisions, view a video at www.integritymarketing.com/MMG.