Reverse mortgage originator American Advisors Group (AAG) has announced a new management team comprised of leading industry veterans, and an infusion of investment capital, expected to immediately catapult the firm into the forefront of the specialty finance sector. "The combination of a strong capital base from an industry-experienced partner--and one of the most seasoned and accomplished teams in the industry--positions us to be a substantial player in the reverse mortgage space in the coming year," said Reza Jahangiri, president of American Advisors Group.
Funding comes from JAM Equity Partners LLC (JAM), a private investment firm based in El Segundo, Calif., specializing in financial services companies, which has committed a $4 million investment from its JAM Special Opportunities Fund II LP (JSOF II). Proceeds from the financing will be used to further accelerate AAG's growth in the reverse mortgage sector, including funding the company's infrastructure, sales and marketing, and general working capital needs.
"We are impressed by the company's deep and proven management team and its diversified multi-channel customer acquisition strategy," said Mike Sekits, partner at JAM. "AAG represents an exciting opportunity to invest in one of the nation's largest independent reverse mortgage originators."
American Advisors Group is also poised to roll out a new direct mail effort, along with a national television campaign "that will not only promote the company as a leader in reverse mortgage lending, but also provide unparalleled transparency and education to the senior community," said Teague McGrath, vice president of marketing. The campaign's theme, "The Best Advice for a Better Life," will have as its spokesperson a widely familiar figure from the entertainment world, to be identified by the firm later this summer.
For more information, visit www.aagreverse.com.