A new financial services firm founded by former executives of Allianz and Blackrock aims to help financial professionals with managing a client’s balance sheet.
Bonsai, as the new company is called, includes Bonsai Exchange, which offers financial advisors “carefully vetted and selected risk management solutions,” including annuities as well as long-term care, disability and life insurance, the company says.
The company also includes Bonsai Advisors, which provides a digital infrastructure and practice management help, according to the firm.
The firm’s third arm, Bonsai Consulting, is aimed at helping firms establish “deeper relationships with their clients,” the company says.
"Bonsai was created with the vision of recasting the future of financial advice," Robert DeChellis, Bonsai's founder and chief executive officer, said in a statement. "The foundation of this vision is based on managing the entirety of a client's balance sheet with the same level of dedication and diligence it takes to bonsai a tree.”
“With the continued focus on financial professionals providing more comprehensive advice and solutions to their clients, the opportunity for this offering is significant,” Bonsai founding partner Frank Porcelli said in a statement.
DeChellis has more than three decades of experience with asset and risk management companies, according to the firm. Before launching Bonsai in January 2019, he had spent more than 12 years with Allianz, most recently as president and chief strategist of Allianz Exchange, according to his LinkedIn profile.
Porcelli is the former head of U.S. Wealth Advisory at Blackrock, according to Bonsai.
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