The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
WALNUT CREEK, Calif., June 3, 2014 /PRNewswire/ -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States, purchases Innova Producers Network life insurance agency. The firm has purchased the assets of Innova Producers Network of San Ramon, Calif. effective June 1, 2014. The Innova personnel, consisting of Executive Director Steve Brandel, Chief Operating Officer Tim Herb, and case Manager Jodi Riche, will head up the new life insurance division of Heffernan Financial Services, and will be located at Heffernan's corporate headquarters in Walnut Creek.
Heffernan Financial Services now encompasses retirement, wealth management and life insurance divisions, with the life division offering life, annuity, disability, and long-term care insurance solutions. Steve, Tim and Jodi will be leading a team of over 20 experienced agents with more than 100 years of combined industry expertise.
Steve Williams, Heffernan Financial Services President, is excited to bring Steve and his team over to Heffernan to lead the life insurance division. Williams said, "With the accomplishments that Heffernan has had over the past 25 years providing insurance and financial services to businesses and individuals, the addition of the life insurance team will really complement our value proposition to our clients as trusted advisors in the life insurance industry."
Mike Heffernan, President and CEO, added, "Steve and his team will enhance and support our growing operations and continue to provide superior service to their existing clients. Culturally, Steve and his team are a great fit and we welcome them to the group."
About Heffernan Financial Services
Heffernan Financial Services advises individuals, corporations and endowments. Founded in 1991, the firm specializes in integrated financial advice and offers an array of services that include investment advisory, corporate retirement plan design and implementation, estate and financial planning, nonprofit consulting, and cash management. Heffernan Financial Services was named one of the Top Wealth Advisors in the Greater Bay Area in 2012 by the San Francisco Business Times based on quantitative and qualitative criteria. Heffernan Financial Services was also named one of PLANADVISER's Top 100 Retirement Plan Advisers and Adviser Teams of the Year based on nominations from industry peers and quantitative factors, including number of plans and dollar value of plan assets under advisement.
For more information, please visit www.heffgroupfs.com or call 800.829.9996.
SOURCE Heffernan Insurance Brokers