Top Five Executive Benefits Consulting Firm Pen-­‐Cal Joins Lion Street
Austin, Texas – August 10, 2015 – Lion Street announced today that executive benefits company Pen-­‐Cal has become a Lion Street Owner-­‐
Firm in an effort to broaden its benefit plan offerings and expand its client base. Advisor-­‐Owners of Lion Street, a national financial services distribution company, operate independent firms that provide life insurance, business insurance and wealth management solutions to high-­‐net-­‐worth individuals, small business owners and corporations.
Based in Pleasanton, CA, Pen-­‐Cal is a leader in the design, implementation, and administration of executive benefit programs. Pen-­‐Cal has a national footprint, and serves the needs of large and mid-­‐size corporations and businesses. It is ranked among the top five U.S. executive benefit consulting firms in revenues by Plansponsor. Kirk Penland, Pen-­‐Cal’s CEO, said of the move: “Lion Street’s network of Advisor-­‐Owners, ownership-­‐based structure, carrier access, and operating platform are compelling and were deciding factors in making the change. Pen-­‐Cal has aspirations to serve more businesses and employees, and we believe Lion Street offers us outstanding leverage opportunities”. Lion Street has devoted significant resources to building Multi-­‐Life solutions and a network of independent firms active in the executive benefits space. Pen-­‐Cal joins Lion Street’s elite corporate benefit firms including Alvarez and Marsal, Executive Benefits Solutions -­‐ Boston, Executive Benefits Solutions -­‐ West, iZale Financial Group, American Financial Systems, and others in forming a powerful network of expertise and a strong national client list. “The move of such a highly experienced and prominent firm to Lion Street signals a milestone for us and our Multi-­‐Life platform. Kirk and his team bring significant scale and capabilities to Lion Street as well as our broker-­‐dealer, Lion Street Financial,” said CEO, Bob Carter. He created Lion Street in 2010 to organize a national network of independent life insurance and financial advisors working in the high-­‐
net-­‐worth and corporate market. Today, Lion Street consists of more than 160 Advisor-­‐Owners in 39 states. About Lion Street Lion Street is a privately held financial services distribution company based in Austin, Texas. Lion Street provides elite independent life insurance producers and financial advisors access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of their high-­‐net-­‐worth and corporate clients. To learn more about Lion Street, visit www.lionstreet.com. About Pen-­‐Cal Pen-­‐Cal was founded in 1959 by Chairman Bob Penland with the goal to bring all facets of retirement plan consulting and administration under one roof. He invested significant resources in technology and administrative staff. Today, 50 years later, Pen-­‐
Cal is one of the nation's leading executive and employee benefit firms. Plansponsor ranks Pen-­‐Cal as one of the top five executive benefit consulting firms in the United States. To learn more about Pen-­‐Cal, visit www.pencal.com