Highland Capital Brokerage, a life insurance and annuity distribution firm, has announced the acquisition of Hallett Financial Group and its sister firm Quotacy.

Advisor Group’s Highland Capital did not disclose the financial value of the deal, which is expected to scale up its life insurance and annuity business.

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Hallett Financial, a full-service, multi-carrier independent brokerage agency, is focused on life, annuity, disability and long-term care offerings.

Founded in 2014, Quotacy is an insurtech that offers term life insurance offerings online.

It provides whole life and disability insurance cover.

The deals closed on 31 December 2021.

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Highland Capital Brokerage CEO Jim Gelder said: “By acquiring Hallett Financial and Quotacy we are positioning Highland for further industry leadership in driving business growth and success for financial professionals across the country while enabling our firm to connect directly with consumers who typically choose not to work with a financial professional for their insurance needs.”

As per the agreement, Hallett Financial will transform into a Highland Capital Brokerage office location, while Quotacy will retain its brand identity.

Jeremy Hallett and Ryan Hallett, who owned and operated both the acquired firms, will hold senior management positions.

Hallett Financial CEO Jeremy Hallett said: “These acquisitions mark the start of a new chapter for both Hallett Financial and Quotacy. These businesses have been closely tied to our family, as well as the vision our father laid out years ago to help consumers find the insurance and annuity products that suit their needs.”