The Mutual Fund Store, an Overland Park-based chain of 124 stores nationwide, has acquired a local life insurance agency to boost its offerings to customers.
“We found out roughly half the people we talked to were not insured at all,” chief executive John Bunch said Friday.
Mutual Fund Store advisers will be able to refer customers to Stuart Woodbury Insurance, a Liberty agency whose founder and president, Stuart Woodbury, is a Kansas City native.
Although Woodbury Insurance offers various kinds of life insurance, the Mutual Fund Store plans to focus on term life insurance, Bunch said. It allows the stores’ advisers to help customers manage risks.
Bunch said the Mutual Fund Store, founded 16 years ago by now-chairman Adam Bold, has evolved to focus beyond investment advice.
It also provides financial planning, including advice on Social Security benefits and health care planning in retirement.
With clients in all 50 states, the Mutual Fund Store group serves 36,000 households, with all accounts holding $9.6 billion.