Integrity's robust, end-to-end systems will empower Virginia-based Velocity to provide a wider range of technology, products and resources to its fast-growing network of agents
DALLAS, June 28, 2022 /PRNewswire/ -- Integrity Marketing Group, LLC ("Integrity"), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired Velocity Life Insurance Agency ("Velocity"), a rapidly growing independent marketing organization ("IMO") based in Roanoke, Virginia. As part of the acquisition, Dave Whichard, President of Velocity, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed.
With a well-earned reputation for hard work and compassion toward the agents and clients it serves, Velocity has shattered growth records across the industry since its inception. The dynamic agency specializes in providing final expense, mortgage protection and other insurance products to consumers nationwide. In 2021, the agency was able to support its network of thousands of agents in placing $33 million in annual paid premium while serving more than 40,000 Americans.
"Just like Integrity, Velocity has built one of the fastest-growing businesses in the industry — and I can't wait to see what we're going to do together," expressed Bryan W. Adams, Co-Founder and CEO of Integrity. "Dave is a perfect fit for the Integrity family. His selfless commitment to service is inspiring — he truly goes above and beyond in delivering solutions that protect families. Partnering with Integrity offers Dave the opportunity to expand Velocity's presence as a key national player in the industry. It also makes it possible to advance Velocity's technology offerings by using our proprietary end-to-end insurtech platform. With Integrity supporting its goals and vision, there's no stopping the Velocity team."
"Integrity offers all its partners game-changing insurtech services — but equally important are the world-class relationships we gain," explained Dave Whichard, President of Velocity. "Being part of Integrity means we're joining a championship team. When you unite your business with partners of that stature and magnitude, and are prepared to learn and grow, the sky is the limit. I'm excited to utilize Integrity's innovative resources and systems to diversify our product offerings and further expand our footprint. This partnership allows me to create a long-lasting legacy of service, while impacting the lives of more agents and American families. This is the perfect time for Velocity to become an Integrity partner, and I couldn't be prouder."
Velocity quickly understood how Integrity's vision of innovating the insurance industry for all stakeholders could benefit its agents and clients. The agency will activate further growth by utilizing Integrity's comprehensive, end-to-end platform, including consumer-centric product design, powerful customer relationship management software and proprietary agency management systems. All partners retain valuable time to focus on growth by utilizing Integrity's centralized business services. Streamlined areas include Technology & Innovation, People & Culture, finance, legal and compliance, as well as a leading marketing and advertising agency.
These benefits are further enhanced by Integrity's groundbreaking Employee Ownership Plan, which allows Velocity to offer its employees meaningful ownership in one of the nation's fastest-growing companies.
In addition, Velocity will contribute to Integrity's partner network, where industry legends are continually working to innovate and improve insurance and financial processes. By collaborating and strategizing on best practices and solutions, these leading companies can better protect the life, health and wealth of more Americans.
"Adding Dave Whichard to the Integrity team is a move that will benefit the entire partner network," shared Shawn Meaike, President of Family First Life and Managing Partner at Integrity. "He brings an unrivaled commitment to hard work that has already resulted in incredible growth. The combination of Dave's compassion and commitment, supported by Integrity's technology and systems will create an unstoppable trajectory of growth for Velocity."
For more information about Velocity's partnership with Integrity, view a video at www.integritymarketing.com/Velocity.
About Integrity Marketing Group
Integrity, headquartered in Dallas, Texas, is a leading distributor of life and health insurance, and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their life, health and wealth with a commitment to meet them wherever they are — in person, over the phone and online. Integrity's cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its distribution network of agencies, brokerages and RIAs throughout the nation. Integrity's nearly 6,000 employees work with more than 420,000 agents and advisors who serve over 10 million clients annually. In 2021, Integrity helped carriers place more than $10 billion in new sales and oversaw more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms. For more information, visit www.integritymarketing.com.
About Velocity Life Insurance Agency
Velocity Life Insurance Agency, is headquartered in Roanoke, Virginia, and serves agents and families nationwide. Velocity specializes in providing top products in final expense, mortgage protection, IULs, annuities and more. Velocity agents provide coverage tailored to their clients from a variety of carriers. The agency owes its record-setting production to comprehensive and ongoing training and strong carrier relationships. In 2021, Velocity's thousands of agents protected more than 40,000 families, while providing over $33 million in production. Velocity consistently leads by example and has an unwavering commitment to outwork the competition. The company's impressive growth is an inspiration for other agencies that strive to duplicate Velocity's success.
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SOURCE Integrity Marketing Group, LLC