The Kansas City Life Insurance Company will sell its financial services subsidiary Sunset Financial Services to Securities America. The deal includes the transfer of the company’s broker-dealer business, investment advising accounts and assets.
Sunset Financial has nearly 270 registered representatives across the nation, with $2.4 billion under management and $18 million in gross annual revenue. Securities America is based out of Omaha, and is one of the largest independent brokerage firms, with over 1,800 advisors. No financial agreement was disclosed.