Streampoint Financial, Inc., headquartered in Boulder, Colorado (Streampoint), has been acquired by Independent Financial Marketing Group, Inc. of Purchase, New York (IFMG) in a cash transaction. The Bicknell Group, LLC of Scarsdale, New York acted as an advisor to Streampoint in the evaluation of corporate development opportunities and negotiated on behalf of the seller.
Streampoint provides web-based workflow systems and on-going compliance update services for the investment and insurance industries. Streampoint’s solution, Investment Streampoint®, automates the document production, compliance and workflow processes of the retail brokerage business. Investment Streampoint® increases the productivity of firm personnel, ensures compliance with federal and state securities and insurance regulations and eliminates the need for pre-printed documents.
IFMG is a prominent leader in providing financial institutions nationwide with a universe of investment and insurance products, plus the sophisticated infrastructure necessary to support their sale. IFMG has consistently received a top-tier industry ranking among distributors of financial products and services to financial institutions. Today, IFMG is the premier marketer of annuities and mutual funds through banks, having achieved, for the third consecutive year, the number one ranking as reported in The Kehrer Report, First Quarter 2002.
IFMG will utilize Streampoint’s technology to better serve its clients through automation of the documentation and compliance requirements upon the sale of investment products. Existing operating management will continue with the company.