MassMutual Great Lakes in Southfield, which offers a wide range of financial products and services including insurance, wealth management, and retirement planning, today announced its three branches in Michigan have merged into one unified firm serving the entire Great Lakes region.
The merger, which was several months in the making, includes MassMutual Michigan Metro in Farmington Hills, MassMutual MidMichigan in Grand Rapids, and MassMutual Great Lakes in Southfield.
Going forward, all three offices will operate together as MassMutual Great Lakes with offices in Southfield and Grand Rapids. The newly merged firm will serve a combined 70,000 households across Michigan with more than $8 billion in assets serviced.
MassMutual Great Lakes CEO Manuel Amezcua will remain in that role; Shelley Fiore, who served as president and CEO of MassMutual Michigan Metro, will be the newly merged firm’s president and COO. The combined team consists of approximately 40 employees. No significant staff reductions are expected.
“We are excited to work together under one vision, one story, and one value proposition to serve the marketplace,” says Amezcua. “We knew that coming together would allow us to scale all of our resources for growth. This is the right decision on behalf of the clients we serve and this incredible brand we have the privilege to represent.”
Mass Mutual is the 4th largest independent broker dealer in the nation. The company is one of the largest writers of insurance, a top player in advisor and sales development, and an industry leader in technology. The merger was the result of a mutual decision between the Michigan branches.
“The timing for this merger is right. Society and our industry are going through massive changes. The public is looking for more resources from their advisors than ever before,” says Fiore. “Joining forces gives us the ability to leverage the strengths and capabilities we have in the separate firms to offer not only what our clients seek, but opportunities they haven’t even contemplated.”
In addition, the merger “will enable our teams to collaborate and work faster and more efficiently,” says Amezcua. “Our focus is to always serve our clients first and to add value in the marketplace related to financial stability, security and success planning. Those things will never change.”
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