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Advisor Group Seeks at Least $900K From Venerable in Lawsuit

What You Need to Know Advisor Group alleges Venerable breached the terms of a marketing agreement between the firms. Private equity firm Reverence Capital Partners is a majority owner of Advisor Group and a part owner of Venerable. The broker-dealer is seeking at least $900,000 in compensatory damages. Advisor Group is seeking at least $900,000 from Venerable Insurance and Annuity Co. and Directed Services, alleging the variable annuity firm and its affiliate breached the terms of a marketing a...
United States Advisor Group Annuity Co Us District Court What You Need Reverence Capital Partners

In Advisor Group lawsuit, the right hand is suing the left

In Advisor Group lawsuit, the right hand is suing the left The independent broker-dealer, backed by Reverence Capital Partners, is suing an annuity company owned, in part, by the same private equity firm. April 21, 2021 2 MINS It’s a tale perhaps only possible in an era when the financial services industry is awash in private equity money: A large network of broker-dealers, Advisor Group Inc., is claiming in a lawsuit that an annuity manufacturer, the former Voya Insuran...
United States Ken Brown Scott Silver Venerable Holdings Advisor Group Annuity Co

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