Thursday, October 6, 2022
HomeInsuranceSolar Life to snap up majority stake in Advisors Asset Administration

Solar Life to snap up majority stake in Advisors Asset Administration


Solar Life can be dedicated to investing as much as US$400 million to launch SLC Administration various merchandise for the US retail market, which shall be distributed by AAM.

Following the acquisition, AAM will turn into the US retail distribution arm of SLC Administration.

“We’re thrilled that AAM shall be becoming a member of SLC Administration,” stated SLC Administration president Steve Peacher. “We have seen a sustained improve in demand for alternate options from the high-net-worth and ultra-high-net-worth market as they appear so as to add new sources of yield and whole return.”

“We have been trying to enter into the retail distribution section for a while now,” added Peacher. “Including AAM to our platform permits us to increase our set of world class various funding capabilities to new purchasers and expands the roster of funding options that AAM can provide to the U.S. monetary advisor market.”

AAM gives a spread of options and merchandise to monetary advisors at wirehouses, registered funding advisors (RIA) and unbiased dealer particulars. The group is comprised of over 270 professionals. As a part of the deal, AAM, could have unique rights to market and promote SLC Administration’s specified various funding merchandise to the US retail market.

An organization launch stated that AAM administers US$41.4 billion in belongings as of July 31, 2022.

Throughout a Q2 2022 earnings launch convention name, Solar Life Monetary president and CEO Kevin Pressure, stated that the corporate is specializing in its “digital priorities” in Canada. The corporate reported that within the first six months of 2022, 85% of life insurance coverage functions submitted in Canada have been processed digitally.

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