SOURCE: Lion Street

Lion Street

September 23, 2013 14:59 ET

Lion Street Expands Leadership, Establishes Broker-Dealer and Focuses on Growth

AUSTIN, TX--(Marketwired - Sep 23, 2013) - Lion Street announced today the addition of Brian Murphy as President and Chief Operating Officer.

Previously, Murphy served as EVP of Life Insurance at The Hartford and as Chairman of Woodbury Financial Services, a Hartford subsidiary. Prior to that, he was EVP of Insurance Operations at American General.

The move of such a highly experienced and knowledgeable carrier executive to Lion Street signals a "milestone in the company's growth plans," said Lion Street Founder and CEO Bob Carter. Carter co-founded Partners Financial in 1987 and was one of three founders of National Financial Partners. He then created Lion Street in 2010 to organize a national network of independent life insurance advisors working in the high-net-worth and corporate market.

"Successful businesses require a clear vision of the future, capital to start and grow the platform, and proven leadership to execute the growth plan," said Carter. "Our vision is an ownership-based, life-centric financial services distribution juggernaut. We have the financial backing and wherewithal for successful expansion, and we have a team of experts to lead the company forward."

Murphy said this vision was a major reason he joined the company. "In my career, I have been involved in all types of distribution approaches. Lion Street is the best contemporary business model for life insurance distribution."

"Ownership trumps any other model. All parties' interests are aligned, meaning we all have an interest in building a company with enduring value. With all the change and dislocation in the industry, Lion Street is building a platform to leverage future opportunities," Murphy added.

The expansion of Lion Street's executive leadership coincides with another milestone in the company's evolution: the creation of Lion Street Financial and Lion Street Advisors, a broker-dealer and advisory platform dedicated to serving the company's Advisor-Owners. Lion Street Financial is now FINRA-approved, fully operational, and ready for business.

John Lefferts serves as President of Lion Street Financial and Lion Street Advisors. He brings 27 years of leadership experience, including his role as President and CEO of AXA Advisors.

"Lion Street Financial's model is unique. We didn't simply start a broker dealer... we created an integrated platform tailored to the needs of our Advisor-Owners. They decide which pieces of the broker-dealer they want to access depending on their markets, products, complexity, and support needs. We offer an experienced, mature platform without the legacy expense drag associated with other broker-dealers," Lefferts said.

Lion Street has also reached yet another milestone: its number of independent Advisor-Owners on board has exceeded 100, representing over 60 independent firms.

Carter and Murphy say the increasing number of firms joining Lion Street is one of the strongest indications that their business model is resonating within the industry.

"I've always believed that the best life-centric firms deserve to own their company," Carter noted.

"Our model is progressive, and it's working," Murphy said. "We're growing because our platform, our direct access to carriers, our people and culture, and our ownership model matter to successful producers." 

About Lion Street, Inc.
Lion Street, Inc. is a privately held financial services distribution company based in Austin, Texas. Lion Street provides elite independent life insurance producers access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of their high-net-worth and corporate clients. Lion Street is a portfolio company of Austin Ventures, a venture capital firm with $3.9 billion of assets under management. To learn more about Lion Street, visit www.lionstreet.com.

Contact Information

  • Media Contact:
    Shaina Forman
    Lion Street
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    (512) 776-8487