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RECORD FIRST QUARTER FOR
SAPIENT FINANCIAL GROUP
Local financial services firm bucks industry trend with 59% growth in sales of core products, fueling significant office expansion and recruitment drive
San Antonio, TX. April 11, 2008 – Sapient Financial Group announced today that it has achieved a 59% growth in first quarter sales of its core products, over the first quarter of 2007. The company sold $6.49 million in annuities, life, disability income and long term care insurance products in the first quarter of 2008, compared to $4.08 million in the first quarter of 2007. Sapient Financial Group, formerly known as The South Texas Agency, offers a full range of retirement, investment and insurance services to clients, but it is the dramatic growth in sales of risk management products that have generated the best recorded results in the company’s 55 year history.
“Sapient Financial Group is particularly pleased to achieve such dramatic sales growth in a market that is seeing only flat to modest growth, nationally,” said Frank Woodruff, Sapient Financial Group’s CEO. “I believe our approach as ‘financial educators’ has and will continue to be fundamental to our success,” he said. “Our clients appreciate that we build long term relationships, and help them get where they want to be financially as coaches and educators, not as product salespeople,” he said.
“The growth we’re seeing is not driven by clients shopping for life insurance added Mr. Woodruff. “It’s driven by their understanding that life insurance, disability income and long term care insurance can play a significant role in a retirement plan, and with the first wave of baby boomers turning 62 next year, retirement planning is a hot topic that our clients, even late starters, are keen to learn about, understand and take positive action to improve their financial outlook.”
To support the growth in business, Sapient Financial Group will continue to expand its team, adding six financial professionals by May 2008. The company aims to recruit an additional eighteen experts between its offices in San Antonio and Austin by the end of this year which will result in a year-over-year financial professional headcount growth of 30%.
To support this expansion, Sapient Financial Group added 30% to its office space in February, 2008, with the addition of 4000sf to its existing 12,000sf.
“Our continued growth meant we were fast running out of space,” said William Weirich, Chief Operation Officer for Sapient Financial Group. “With this latest expansion, we’ve grown our office space by 49% since 2006.
“Looking ahead to the rest of 2008, we expect continued growth in our business as professionals in South Texas seek ways to manage the financial challenges posed by fluctuating markets, falling house values, the credit crunch and the increased cost of living,” said Mr. Woodruff. “Our goal is to educate clients on the available options and help them make wise choices to meet today’s needs while preparing for the financial needs of tomorrow.
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Sapient Financial Group, formerly known as the South Texas Agency, is a Massachusetts Mutual Life Insurance Company (MassMutual) General Agency. The firm has developed industry leadership in areas of individual and small business risk management planning and offers a full range of employee benefits planning and investment products. The firm has assisted individuals, families and businesses get to where they want to be by helping to provide protection, financial security, and stability for fifty-five years. www.SapientFinancialGroup.com.
Frank Woodruff can be reached at fwoodruff@finsvcs.com or by calling 210.342.4141. Securities and investment advisory services offered through MML Investors Services, Inc., member SIPC (www.SIPC.org), One Union Square, Suite 300, 10101 Reunion Place, San Antonio, TX 78216. 210.342.4141.
Insurance offered through Massachusetts Mutual Life Insurance Company and other fine companies.
CRN200808-093475