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Wilmington-based Innovative Financial Group Announces Partnership

By Christina Haley O'Neal, posted Oct 20, 2020
Josh Benson, left, CEO of Innovative Financial, stands with partner/owner Tyler Rees and Financial Providence Group owner Ryan Strathmeyer. The two firms entered into a new partnership this month. (Photo courtesy of Innovative Financial Group)
Wilmington-headquartered Innovative Financial Group has partnered with another firm in the industry, Financial Providence Group, according to a news release.

The financial details of the new partnership were not disclosed. Innovative Financial Group (IFG) opened in 2014 and has seen growth as a large distributor of life insurance and health products, most recently being named as a 2020 member of the Inc. 5000 list.

"We are always expanding. One of our main initiatives for 2021 is expanding our footprint in Wilmington and all throughout the state of North Carolina with job creation being our main focus," said Tyler Rees, the majority owner of Innovative Financial Group, in an email Tuesday. "With the recent partnership, this will further our capability to give back and help build Wilmington. Innovative Forward, our foundation that we recently started, will focus on providing and giving back to our community."

Innovative Financial Group works with more than 9,000 independent insurance agents across the country. The company, headquartered at 5101 Dunlea Court in Wilmington, employs about 50 people locally.

The firm expects to write over $300 million in life and health products this year, stated the release.​

"We believe in partnering with quality, hardworking people and Brad is the definition of those qualities. I look forward to working side by side with Brad to continue creating the best platform in the insurance industry," Rees said in the release. "Occasionally there are changes within the industry that will positively disrupt and change the current landscape and this partnership with FPG will do just that."

For about 21 years, Bradly Jennings, owner of Financial Providence Group (FPG), has been a leader in the insurance space, starting the firm in 1999, and in 2000 joining Lincoln Heritage Life Insurance Co., where the firm became the second-largest agency within the entire organization, stated the release.

FPG has grown to more than 900 agents, who are responsible for "over $300 million in final expense business and close to $5 billion in face value amount," stated the release.

"I have done a lot of research on Innovative Financial Group, and in an environment where expansion of products and platforms are critical to success, I felt that IFG is the perfect fit," Brad said. "When I look towards my future goals at this point, I not only am thinking of what we want to accomplish here at Financial Providence Group but now with IFG as well. I feel that with this partnership we can now become a billion-dollar-a-year agency."
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