Houlihan Lokey Advises PHP Agency
Houlihan Lokey is pleased to announce that PHP Agency, Inc. (PHP), an industry-leading field marketing organization based in Addison, Texas, has been acquired by Integrity Marketing Group, LLC (Integrity), a leading distributor of life and health insurance and provider of wealth management and retirement planning solutions.
PHP, which stands for “People Helping People,” serves nearly half a million Americans nationwide by offering life and annuity products through its team of more than 27,000 agents. In many ways, Patrick Bet-David, the Founder and CEO of PHP, is the embodiment of the American Dream. He came to the United States as an Iranian refugee as a child and then served in the United States Air Force before joining a large investment and financial services firm. In 2009, Mr. Bet-David founded PHP, which has experienced exponential growth by investing in technology for agents and focusing on the needs of underserved communities. A leader in diversity and inclusion, PHP is redefining industry norms by recruiting, training, and supporting a diverse, dynamic, and highly motivated salesforce.
Integrity, headquartered in Dallas, is a leading distributor of life and health insurance and provider of innovative solutions for wealth management and retirement planning. Through its partner network, Integrity helps millions of Americans protect their lives, health, and wealth with a commitment to meet them wherever they are—in person, over the phone, and online. Integrity’s cutting-edge technology helps streamline the insurance and financial planning experience for all stakeholders. In addition, Integrity develops products with carrier partners and markets them through its distribution network of agencies, brokerages, and RIAs throughout the nation. Integrity’s nearly 6,000 employees work with more than 450,000 agents and advisors who serve over 10 million clients annually. In 2022, Integrity will help carriers place more than $12 billion in new sales and oversee more than $20 billion of assets under management and advisement through its RIA and broker-dealer platforms.
As part of the acquisition, Mr. Bet-David will become a Managing Partner in Integrity. He will expand opportunities for his agents and agencies by leveraging opportunities for teamwork and growth through the Integrity partner network. Driven by a core commitment to innovate insurance, this world-class peer group of industry icons have united to shape best practices and strategies that improve insurance and financial services for everyone. Integrity partners are focused on protecting the lives, health, and wealth of all Americans, helping millions prepare for the good days ahead.
Houlihan Lokey served as the exclusive financial advisor to PHP and assisted in initiating, marketing, structuring, and negotiating the transaction on its behalf. This deal highlights Houlihan Lokey’s continued position as a leading advisor within the insurance distribution space.