The financial industry is stabilizing, but one area that is positively bustling is that of independent insurance-product distribution through banks.
As insurance companies have cut back on their in-house wholesaling operations, companies like Four Seasons Financial Group, based in Mount Laurel, N.J., have stepped in to take up the slack. Eighteen-year-old Four Seasons, which distributes annuities, life insurance and other products through financial institutions, grew its revenue by 13% last year, and increased it by 55% in the first five months of this year.
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