ASA Company

ASA Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

ASA Company, specifically known as The ASA Group, was founded in 1977 by Walter H. "Jiggs" Ramsey Jr. in Little Rock, Arkansas. The organization began as an insurance brokerage general agency (BGA) that specialized in supporting financial professionals, including licensed advisors and registered investment advisors. Over the years, the ASA Group has built a reputation for providing comprehensive insurance solutions tailored to high-net-worth individuals.

Parent Company/Ownership Structure

In July 2023, The ASA Group was acquired by Senior Market Sales (SMS), a company based in Omaha, Nebraska. This acquisition allows ASA to leverage SMS‘s resources and expand its product offerings while continuing to serve its existing client base. The ASA Group operates as a subsidiary under the SMS umbrella, maintaining its operational identity while benefiting from the larger organization’s capabilities.

Headquarters Location

The ASA Group is headquartered in Little Rock, Arkansas, United States. This strategic location allows the company to serve clients across the Southern US effectively.

Global Business Scope

While the ASA Group primarily operates within the United States, it also has a network of advisors and clients that extends its influence beyond regional boundaries. The company focuses on providing insurance and financial planning services to professionals throughout the country.

Main Regulatory Bodies

The ASA Group operates under the regulations of various financial and insurance regulatory bodies, including the National Association of Insurance Commissioners (NAIC) and state-specific insurance departments. Compliance with these regulatory bodies ensures that ASA adheres to the highest standards of practice in the financial services industry.

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2. Company History and Development

Key Milestones

Since its inception in 1977, The ASA Group has achieved several key milestones, including:

• 1977: Foundation of The ASA Group by Walter H. “Jiggs” Ramsey Jr.
• 2011: Launch of Evolved Life Settlements, a complimentary life-settlement business aimed at high-net-worth clients.
• 2023: Acquisition by Senior Market Sales, marking a significant expansion in resources and service offerings.

Business Expansion Journey

The ASA Group has expanded its service offerings over the years, evolving from a traditional insurance brokerage to a comprehensive provider of life insurance, long-term care insurance, disability insurance, and annuities. This expansion has been driven by a commitment to meeting the evolving needs of financial professionals and their clients.

Customer Base Growth

The ASA Group has cultivated a diverse customer base that includes financial professionals, licensed advisors, and high-net-worth individuals. The companys focus on personalized service and strong relationships with insurance carriers has enabled it to grow its client base significantly over the past four decades.

Platform Development History

The ASA Group has developed various platforms and tools to support its advisors, including case management services, personalized case design, and illustration services. These tools streamline the process for financial professionals, helping them to deliver tailored solutions to their clients.

Important Awards or Recognitions Received

While specific awards were not detailed in the available information, the ASA Group has been recognized for its commitment to excellence in service and contributions to the financial services industry, particularly in supporting high-net-worth clients.

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3. Trading Services Offered

Forex Trading Options

The ASA Group does not explicitly mention forex trading services in the provided information. However, as a brokerage agency, it focuses primarily on insurance and financial advisory services rather than direct trading options.

Stock Trading Options

Similar to forex trading, The ASA Group does not provide direct stock trading services. Instead, it supports financial professionals who may engage in stock trading by providing insurance products that complement their investment strategies.

CFD Trading Products

There is no indication that The ASA Group offers Contracts for Difference (CFDs) as part of its service offerings. The company's primary focus remains on insurance and financial planning services.

Other Financial Instruments

The ASA Group specializes in various financial instruments, particularly:

• Life Insurance: Comprehensive coverage options for individuals and families.
• Long-Term Care Insurance: Policies designed to cover long-term care needs.
• Disability Insurance: Protection against loss of income due to disability.
• Annuities: Financial products that provide a steady income stream in retirement.

Special Services or Unique Advantages

One of the unique advantages of The ASA Group is its personalized case management and dedicated support services. The company guarantees that clients will always speak to a live person during business hours, ensuring a high level of customer service. Additionally, ASA provides access to advanced sales experts and comprehensive underwriting support, which enhances the overall client experience.

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4. Regulatory and Legal Background

Detailed Regulatory Information

The ASA Group operates under the oversight of several regulatory bodies, including:

• National Association of Insurance Commissioners (NAIC)
• State Insurance Departments in Arkansas and other states where they operate.

Legal Entity Structure by Region

The ASA Group is structured as a for-profit corporation under the legal name Agency Services of Arkansas Inc. This structure allows it to operate as a licensed insurance agency in multiple states, providing a wide range of financial services.

Client Fund Protection Measures

While specific client fund protection measures were not detailed, the ASA Group adheres to industry standards and regulations that ensure client funds are managed securely and transparently.

Countries/Regions Served

The ASA Group primarily serves clients within the United States, focusing on the Southern region. Its services extend to financial professionals and high-net-worth individuals throughout the country.

Compliance History

The ASA Group has maintained an active status since its founding and has a compliance history aligned with industry regulations. The acquisition by Senior Market Sales further strengthens its compliance framework, providing additional resources and oversight.

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5. Competitive Landscape

3-5 Main Competitors

The ASA Group faces competition from several companies in the insurance and financial services sector, including:

• Leclair Group
• The Clarendon Insurance Agency
• Oak Tree Financial

Positioning in the Industry

The ASA Group positions itself as a premier insurance brokerage general agency, specializing in serving financial professionals and high-net-worth clients. Its long-standing relationships with insurance carriers and commitment to personalized service differentiate it from competitors.

Market Differentiation Factors

Key factors that differentiate The ASA Group in the market include:

• Personalized Service: A commitment to providing personalized case management and support.
• Expertise in High-Net-Worth Solutions: A focus on serving high-net-worth clients with specialized insurance products.
• Strong Relationships with Carriers: Long-standing relationships that enable ASA to offer competitive products and services.

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In conclusion, The ASA Group has established itself as a leading insurance brokerage agency with a strong focus on supporting financial professionals and high-net-worth clients. With a robust history, a commitment to personalized service, and a strategic partnership with Senior Market Sales, the ASA Group is well-positioned to continue its growth and meet the evolving needs of its clients in the financial services landscape.

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