Moody Insurance Agency Acquires Smallwood Financial Services
Colorado’s third-largest private insurance agency expands capabilities, solidifies competitive advantage in Denver market
DENVER, CO, January 29, 2010–Moody Insurance Agency (“Moody Insurance”) today announces the acquisition of Colorado-based Smallwood Financial Services (“Smallwood Financial”), making Moody Insurance one of the largest, private, small-mid size insurance and benefits provider in the state of Colorado. With the acquisition of Smallwood Financial, Moody Insurance more than doubles its benefits practice and further expands its reach as a leading employee benefits firm in the Rocky Mountain region.
Moody Insurance is dedicated to serving Colorado businesses, with a focus on the small-mid size companies (5 – 1,000 employees) that are most impacted by changing healthcare legislation. The acquisition of Smallwood Financial will enable continued growth for Moody Insurance business and its Denver-based employees.
“Smallwood Financial’s expertise in benefits services positions us well to offer comprehensive insurance solutions for companies of all sizes. We are eager to expand into new markets based on Smallwood Financial’s background, and are excited about the enhanced capabilities we can now offer our customers,” said Brad Moody, president of Moody Insurance.
Moody Insurance has been providing tech-savvy risk management and insurance services to Colorado businesses, with a focus on the construction industry, for more than 38 years. Smallwood Financial’s vast experience, in markets including architecture, engineering, manufacturing, distribution, charter schools and professional services, broadens the customer base for Moody Insurance.
According to Jim Smallwood, president of Smallwood, “We are pleased and excited to announce our decision to be acquired by Moody Insurance Agency. The immediate merger of our benefits operations moves us toward our vision of offering clients a truly complete package of insurance, investment and employee benefits-related services.”
The newly formed Employee Benefits Operation will operate as Moody-Smallwood, reflected in the Company’s branding over the next year. Jim Smallwood, RHU, REBC will lead the Employee Benefits Operation as President, and all employee benefits for the combined practice will be handled out of the current Smallwood Financial offices in the Denver Tech Center.
About Moody Insurance Agency
Founded in 1972, Moody Insurance Agency is Colorado’s third-largest private insurance agency offering property and casualty, worker’s compensation, surety and personal lines insurance The company currently employs over 75 professionals and manages over $100 million in annual sales, representing more than 30 major insurance carriers. Moody Insurance is a C.N.A. High Performance Agency, a Traveler’s Cornerstone Agency, and a member of the Pinnacol Club. Moody Insurance prides itself on dedicated and personalized customer service to provide the most effective, competitive insurance solutions. www.moodyins.com.
About Smallwood Financial Services
Based in Colorado (Greenwood Village and Colorado Springs), Smallwood Financial Services is a locally-owned firm specializing in benefits management, financial advisory practice and administrative services including COBRA administration, cafeteria plans (125 and HRA), and HR consulting. www.esmallwood.com.
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