SOURCE: Puritan Financial Companies, Inc.

January 10, 2008 18:57 ET

Puritan Financial Companies, Inc. Launches Investment Services Division

DALLAS, TX--(Marketwire - January 10, 2008) - Puritan Financial Companies, Inc. (Puritan) has announced the launch of an investment services division consisting of two wholly owned subsidiaries:

-- Puritan Brokerage Services, Inc. (broker/dealer services)

-- Puritan Investment Advisors, Inc. (registered investment advisor services)

Both subsidiaries will develop business primarily through referrals from the parent company's customer database.

Puritan Brokerage Services, Inc. ("PBS") is an introducing broker/dealer, and member of FINRA, offering a wide range of investment products, including stocks, bonds, mutual funds, options, variable life, variable annuities, U.S. Treasuries and CDs.

PBS will primarily take "client entered" (unsolicited) orders from existing Puritan and PBS customers without actively offering investment advice or trade recommendations. This subsidiary will adopt a low-risk business model that does not contract with outside independent representatives. General securities accounts for PBS customers will be maintained at Southwest Securities, a third-party clearing firm, and will be insured through SIPC, the Securities Investor Protection Corporation.

Puritan Investment Advisors, Inc. ("PIA") offers fee-based investment advisory services, as well as planning, guidance and support to other Puritan affiliates.

PIA is a Registered Investment Advisor with the Texas State Securities Board and plans to acquire equivalent registration in other states, as well as Registered Investment Advisor status with the Securities and Exchange Commission. PBS has been approved for membership with the Financial Industry Regulatory Authority, formerly known as the National Association of Securities Dealers.

Puritan Chairman and President, D. M. "Rusty" Moore, Jr., has been named CEO of both companies. Scott Brooks has been named President and Chief Compliance Officer for Puritan Brokerage Services, and Paul Crooks will serve as CFO and Financial Operations Principal.

"Puritan Brokerage Services is a logical step for us," said Brooks, "and a part of our overall business plan. We can now assist clients with all their brokerage needs in addition to the services already provided by our Insurance and Investment Advisory affiliates."

Puritan Financial Companies, Inc., is a privately owned and closely held holding company for its primary operating subsidiary, Puritan Financial Group, Inc., and other affiliates. Puritan Financial Group is a licensed insurance agency that focuses on acquiring and serving retail customers in the senior market. Puritan Financial Group, Inc., is headquartered in Dallas, Texas, and has branch offices in Houston, Texas, Louisiana, Oklahoma, Tennessee, Kentucky, Indiana and Pennsylvania. For more information, please visit and

This news release includes statements that may constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, continued acceptance of Puritan's products and services in the marketplace, competitive factors, changes in regulatory environments and other risks. Puritan does not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

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