Capitas Financial of Illinois

What Capitas Financial of Illinois does

Capitas Financial, Inc. is a privately held wholesale life insurance brokerage firm founded in 2001 and headquartered in Minneapolis, Minnesota. It operates as a national consortium of independent partner agencies — including Capitas Financial Midwest (formerly Chicago Brokerage Services), Pacific Southwest Financial, Associated Life Brokerage, Capitas Financial of Houston, Michael L. Fitzgerald Insurance Services, Advanced Brokerage Services, Popular Insurance (Puerto Rico), and others — delivering point-of-sale service and back-office support to financial institutions, registered investment advisors (RIAs), broker-dealers, and independent advisors across all 50 U.S. states and Puerto Rico. The company is the largest point-of-sale organization in the U.S. life insurance distribution market by its own characterization, with 16 regional processing centers, 130+ point-of-sale professionals, and 250+ back-office support specialists.

The firm distributes a full product portfolio drawn from 50+ top-rated insurance carriers, spanning core life insurance (Whole Life, Universal Life, Variable Universal Life, Term), protection products (Long-Term Care, Hybrid LTC, Disability), accumulation products (Annuities), and specialty offerings (Life Settlements, Private Placement, BOLI/COLI, Premium Finance, Foreign National, Sports & Entertainment). Capitas is the #1 writer of Long-Term Care Insurance and #2 writer of Disability Insurance in the U.S. marketplace, with over 800,000 inforce policies and $80 billion in inforce coverage across the network. Underwriting and case-design infrastructure is built around an auction-underwriting model, a Private Wealth Group for UHNW clients, and dedicated specialists for estate planning, business succession, executive benefits, and impaired-risk cases.

Capitas earns revenue through insurance brokerage commissions paid by carriers on placed policies, supplemented by fee-based services such as case design, policy reviews, and illustrations. Its go-to-market is channel-partner driven: institutional relationships with 20+ major financial institutions (Morgan Stanley, UBS, Merrill/BofA, Wells Fargo, RBC, Raymond James, Baird, and others) serve as the primary distribution layer, with securities offered through a separate affiliated broker-dealer (Simplicity Investments, Member FINRA/SIPC). Operating infrastructure is supported by SOC 3 certification, annual third-party security audits, and 24/7/365 cybersecurity monitoring across affiliated agencies. No external private equity or venture capital ownership has been disclosed.

Name

Capitas Financial of Illinois

Legal name

Capitas Financial, Inc.

Website

https://capitasfinancial.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Capitas Financial is a wholesale life insurance brokerage distributing products from 50+ carriers through a national consortium of partner agencies to financial institutions, RIAs, broker-dealers, and their UHNW clients across all 50 U.S. states and Puerto Rico.

Ownership category

akta.pro rank

Product category

Life Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

akta.pro secondary industries

Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM), Individual Disability Income Insurance (Non-Group) (FSAIAIAA), Individual Health Insurance Brokerage & Distribution (FSAIAEAL)

Keywords

• Life insurance brokerage
• Wealth transfer planning
• Long-term care insurance
• Disability income insurance
• Executive benefit planning

Headquarters

HQ city

Littleton

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Brokerage Commissions: Capitas operates as a life insurance brokerage firm earning commissions from insurance carriers for placing insurance products with clients. The firm offers products from over 50 top-rated insurance carriers and leverages auction underwriting to provide competitive options.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Capitas Financial of Illinois operates as a wholesale life insurance brokerage that places life, disability, long-term care and annuity products from more than 50 top-rated carriers through a national-consortium model of local partner offices serving financial advisors, broker-dealers and financial institutions. It provides auction underwriting, case design, advanced estate and business planning, and back-office support to deliver complex insurance solutions to ultra-high-net-worth clients of the advisory community.

Product overview

Capitas Financial is a life insurance brokerage firm operating as a national consortium of independent partner agencies. The company offers a comprehensive portfolio of insurance products and planning services tailored for financial advisors, RIAs, broker-dealers, and their ultra-high-net-worth clients. The core product portfolio includes traditional life insurance products (Whole Life, Universal Life, Variable Universal Life, Term Life), protection products (Long-Term Care, Hybrid LTC, Disability), and accumulation products (Annuities). Specialty offerings encompass Private Placement, Life Settlements, BOLI/COLI, Premium Finance, and Foreign National Markets. The service model combines local point-of-sale support with national Private Wealth specialists providing advanced planning in estate planning, business succession, executive benefits, and high-limit disability coverage. With access to over 50 top-rated insurance carriers, Capitas provides auction underwriting, case design, underwriting expertise, and in-force administration through its network of 16 regional processing centers and 130+ point-of-sale professionals.

Differentiator

Problem solved

Functional benefit

Products and services

• Life Insurance Brokerage and Advanced Planning Solutions A wholesale life insurance brokerage placement service for RIAs, Broker-Dealers and financial institutions. It provides policy design across term, whole, universal and variable universal life, with auction underwriting and Private Wealth Specialists supporting estate, business and protection planning for ultra-high-net-worth clients.
• Long-Term Care and Hybrid LTC Insurance Solutions Brokerage of long-term care coverage and hybrid life/annuity long-term care products for HNW clients, supporting extended-care needs (nursing home, assisted living, in-home care) with flexible structures.
• Disability and High-Limit Disability Insurance Solutions Income protection brokerage including standard disability coverage and high-limit long-term disability plans for high-income earners, executives and professionals requiring substantial income replacement.
• Annuity Brokerage Placement of annuity contracts from top-rated carriers for retirement income planning and wealth accumulation strategies.
• Specialty Insurance Structures (BOLI/COLI, Life Settlements, Private Placement) Specialty brokerage lines: BOLI and COLI for institutional and corporate buyers, Life Settlements for policyholders seeking value above cash surrender, and Private Placement securities for accredited investors using insurance structures.
• Premium Finance and Foreign National / Sports & Entertainment Solutions Specialty brokerage services offering premium financing arrangements, international and foreign-national underwriting support, and tailored coverage/planning for professional athletes and entertainment industry clients.
• Executive Benefits and Business Planning Solutions Insurance-based executive benefit programs (deferred compensation, split-dollar, supplemental benefits) and business planning solutions (buy-sell, key person, succession) for senior management in public, private and tax-exempt organizations.
• Case Design, Underwriting and Advisory Services End-to-end case support services for advisors including customized case design, illustrations, policy reviews, underwriting advocacy (impaired risk and substandard placements) and full case management from concept through policy delivery.

Quantifiable outcome

• Over 800,000 inforce policies attributable to Capitas and affiliates
• +3 more outcomes

Named customers17 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

17 partnerships are on record, tiered core.

• Simplicity InvestmentscoreChannel Partner/ Reseller/ DistributorSecurities offered through Simplicity Investments, Member FINRA/SIPC, providing brokerage services for Capitas Financial products. Sean Wickersham serves as President of Simplicity's Broker Dealer business.
• Michael L. Fitzgerald Insurance ServicescoreChannel Partner/ Reseller/ DistributorIndependent life insurance brokerage firm serving professionals in Northern California. Founded in 1993, provides access to multiple life insurance companies and diversified products in personal, business and estate planning markets.
• Capitas Financial of Houston / Prelle Financial GroupcoreChannel Partner/ Reseller/ DistributorIndependently owned partner office serving the entire state of Texas, specializing in estate planning and advanced market strategies for high-net-worth clients.
• Capitas Financial MidwestcoreChannel Partner/ Reseller/ DistributorFull-service marketing organization serving Illinois and Wisconsin, providing comprehensive portfolio of carriers and planning expertise in life insurance, disability income, annuities, long-term care. Formerly known as Chicago Brokerage Services.
• Lauer & AssociatescoreChannel Partner/ Reseller/ DistributorFounding member of Capitas Financial since 1987, assisting independent agents, financial advisors and planners in finding insurance solutions. Specializes in wealth transfer, asset protection and tax advantaged strategies.
• Associated Life BrokeragecoreChannel Partner/ Reseller/ DistributorBrokerage general agency founded in 2003 serving greater New Jersey/Pennsylvania area. Known as gold standard in impaired risk marketplace with single point-of-contact support.
• Advanced Brokerage ServicescoreChannel Partner/ Reseller/ DistributorBrokerage general agency in Albuquerque, New Mexico providing insurance agents, investment professionals, banks and financial planners with professional approach to life and disability needs.
• Rushing Financial GroupcoreChannel Partner/ Reseller/ DistributorAdvanced insurance planning organization offering full range of carriers for life insurance, disability income, long-term care and investment products serving Indiana, Georgia and greater Cincinnati/Dayton, Ohio areas.
• Gowers & AssociatescoreChannel Partner/ Reseller/ DistributorMarketing organization providing life insurance agents, property and casualty agents, financial planners, licensed financial advisors, and bank representatives with innovative marketing concepts and quality insurance products.
• Pacific Southwest FinancialcoreChannel Partner/ Reseller/ DistributorIndependent financial services firm and partner formed in 2001. One of the largest independent distributors of insurance products with over $1 billion in premiums generated since 2021.
• Simplicity GroupcoreStrategic or Co-development PartnerLeading partner for advisors, financial institutions, and consumers delivering wealth accumulation and financial protection products. Sean Wickersham serves as Broker Dealer & Partner, President.
• Passerelle SolutionscoreStrategic or Co-development PartnerLeading insurance advisory firm with offices in Miami, Charlotte, and Chicago. Manages portfolio of $8.7B in structures and $4.5B in loans. Specializes in foreign nationals and premium finance insurance structures.
• The Westport GroupcoreStrategic or Co-development PartnerInnovators and manufacturers of customized disability protection products for high-income earners. Co-designers of proprietary high-limit long-term disability plan.
• Executive Benefit SolutionscoreStrategic or Co-development PartnerIndependent firm working with client companies on design, funding, implementation and administration of executive benefit plans. Supports senior management in public, private and tax-exempt organizations.
• Advanced Planning Group / The Smith CompaniescoreStrategic or Co-development PartnerDedicated team of specialists providing guidance on complex financial, estate, business, and tax planning strategies for high-net-worth individuals, families, and business owners.
• LTC GlobalcoreChannel Partner/ Reseller/ DistributorLeading national distributor of life and health insurance products and largest independent distributor of Long Term Care insurance. Commission portal available for affiliated agents.
• Popular InsurancecoreChannel Partner/ Reseller/ DistributorPuerto Rico's leading all-lines general agency specializing in distributing life, annuities, and financial service products. Operates as extension of advisors' teams.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• M Financial Group: M Financial Group is one of the most direct peers to Capitas — a national wholesale life insurance distribution network serving ultra-high-net-worth clients through independent advisors and financial institutions, with proprietary underwriting arrangements and a similar auction-based placement model.
• Lion Street: Lion Street is a closely comparable wholesale life insurance distribution firm owned by and serving independent financial advisors and institutions, focused on advanced planning, HNW case design, and access to multiple top-rated carriers — directly mirroring Capitas' GTM model.
• Highland Capital Brokerage: Highland Capital Brokerage is a national life insurance brokerage focused on advanced case design, impaired risk underwriting, and serving financial advisors serving HNW clients — directly overlapping with Capitas' case design and underwriting expertise.
• LifeMark Partners: LifeMark Partners is a life insurance marketing organization that provides product access, case design, and underwriting support to financial institutions and independent producers — a structurally similar wholesale distribution model to Capitas.
• Brokers International: Brokers International is a national insurance brokerage and marketing organization that serves financial institutions and independent agents with multiple-carrier access and case management — closely analogous to Capitas' hybrid national-local distribution structure.
• Insurance Management Associates (IMA): IMA is a wholesale insurance brokerage focused on life, disability, and long-term care products distributed through financial institutions and advisors — overlapping Capitas in LTC and disability distribution with comparable institutional partner relationships.

Broad incumbents

• NFP (an Aon company): NFP is a large diversified insurance broker and advisor serving financial institutions, advisors, and corporate clients with a wide range of life and benefits solutions; it is broader in scope than Capitas but competes for similar institutional insurance distribution mandates.
• Cetera Financial Group: Cetera is a major independent broker-dealer and wealth manager with embedded insurance distribution arms; it represents both a potential partner and an institutional competitor to Capitas for advisor- and institution-led insurance sales.
• Fidelity Investments Insurance Agency: Fidelity operates a large in-house life insurance agency that distributes term, universal life, and annuity products through its advisor and workplace channels; as a major incumbent, it competes with Capitas for institutional placement and advisor relationships.

Emerging players

• Simplicity Group: Simplicity Group is a strategic partner of Capitas (Simplicity Investments provides Capitas' brokerage services) and operates as a wealth accumulation and protection distribution platform for advisors and institutions — making it a tightly entangled peer and partner in the same ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CapitasINC
• Facebookfacebook.com/CapitasFinancial
• LinkedInlinkedin.com/company/capitas-financial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capitas Financial of Illinois