The Pietsch Financial Group and Hunken Ewing Financial Group are joining forces to create a new and innovative agency in Chicagoland that brings together their strengths to provide enhanced value to our career financial advisors, brokers, and clients. The name of the new organization will be True Wealth Strategies. Scott Hunken and Mark Pietsch will run the new agency as general agents, together with 74
years of combined industry experience.
Hunken Ewing Financial Group (HEFG) is celebrating its 85th year as a leader in the Chicago insurance and financial industry. The firm, which was originally named the Hunken Agency Inc, was started by Scott’s Grandfather Henry C. Hunken in 1940. The name was changed in 2018 to Hunken Ewing Financial Group.
Mark Pietsch’s firm originated in 1975 as The David Dann Agency. Mark took over the business in 2010 and rebranded it as The Pietsch Financial Group, which is celebrating their 50th anniversary.
Pietsch Financial Group and Hunken Ewing Financial Group specialize in life insurance, disability insurance and investment advisory. Our primary insurance company is Guardian Life Insurance Company of America (GLIC), which is the fourth-largest mutual insurance company in the USA; however, we also represent many other major carriers. Our broker-dealer and registered investment advisor is Park Ave Securities and Park Avenue Advisor; respectively, which is wholly owned by GLIC. True Wealth Strategies will have over 48 direct sales representatives, 10 staff members, and a total of 60 employees when including the two owners. Additionally, the combined agencies will have over 1500 licensed insurance brokers who write life and disability business with Guardian and other carriers through our firm. Our brokers are paid via
1099, so they are not considered our employees.
Between the two businesses, we produce over $5 million of new life and disability insurance premiums per year, $90 million recurring life, and disability premiums, and $1.4 million in recurring revenue through the management of assets via our investment advisory business. The agency has over $22,000 Guardian life and disability polices in force, $8.9 billion in Life insurance coverage, and $310 million assets under management. We also have a large volume of clients insured with many other carriers we write and represent. Our firm is still growing, and we expect to be adding 12 – 15 new financial sales representatives a year. In addition to having this new office in Lombard, TWS has an office in Glenview and Deerfield, Illinois.
*Represents in force cash values for life insurance and market values of all securities accounts. Market values of securities accounts are subject to significant changes due to market conditions. The values provided should not be used in making a determination on the quality of services provided by representatives of this agency.
