Info-One Buys Annuity Data Provider
July 17, 2000
Info-One, a financial services consulting and technology company, of Campbell, Calif., has acquired Financial Planning Resources of Atlanta, Ga. for an undisclosed sum, Info-One has announced. Financial Planning Resources owns The VARDS Report and the VARDS Total Reference system.
Info-One plans to expand the VARDS Report and the total reference systems, according to Info-One. Product information for variable life and variable universal life, including sales and asset ranking, will be available starting in the fall, according to Info-One. In addition, Info-One will introduce software that will enable Vards total reference subscribers to review financial ratings and other data on the top 250 insurance companies. It also intends to add a contract analysis section to the existing VARDS contract data profile, a standardized review of all variable annuity contracts, in the reference system.
Info-One also plans to compile a comprehensive database of insurance and annuity products available on the Internet using VARDS data, according to Info-One.
The merger will allow VARDS to concentrate on its core business of research and database building, while Info-One will devise technology and develop the company's web presence, said Rick Carey, CEO of Financial Planning Resources, which will maintain its headquarters in Atlanta.