Lovell Minnick Partners Exits Investment in PlanMember

PlanMember Financial Corporation and AXA Equitable Form National Distribution Marketing Alliance

February 27, 2013 – PlanMember Financial Corporation (“PlanMember” or the “Company”) is pleased to announce that is has completed a recapitalization with AXA Group. As part of the transaction, PlanMember will form a national distribution alliance with AXA Equitable which will include them as a primary PlanMember Insurance Program Provider. This alliance serves as a long-term strategic growth opportunity in the employer-sponsored markets, as well as the individual planning markets for both PlanMember and AXA Equitable.

As part of the transaction, Lovell Minnick Partners will exit its investment in the Company. PlanMember has been a portfolio company since October 2006 when the private equity firm led a recapitalization and provided growth capital to the Company. Lovell Minnick Managing Director, Robert Belke, commented, “It has been a pleasure to work with Jon Ziehl and the rest of the PlanMember team over the last six years and we wish them well in their new partnership with AXA.”  Jon Ziehl, CEO of PlanMember, said “Lovell Minnick was integral in the growth and development of PlanMember in recent years.  Without Lovell Minnick’s strategic and financial assistance, we could not have attracted an industry partner of AXA’s caliber to support the continued expansion of our independent distribution model.”

About Lovell Minnick Partners

Lovell Minnick Partners is an independent private equity firm providing equity capital for private company leveraged buyouts and recapitalizations, and growth capital for developing companies.  From offices in Philadelphia and Los Angeles, Lovell Minnick Partners manages private equity partnerships with committed capital totaling over $850 million.  Portfolio companies operate across a broad array of financial services, including asset management, banking, specialty finance, financial product distribution, securities brokerage, financial consulting services, and specialized outsourcing solutions.  For more information, visit

About PlanMember Financial Corporation

Headquartered in Carpinteria, California, PlanMember Financial Corporation has been an industry-leading broker/dealer for over two decades. With over 400 registered representatives, a growing number of PlanMember Financial Centers across the country, $5 billion in assets under management and over 120,000 customer accounts, PlanMember is an approved retirement plan provider in over 3,000 school districts and nonprofit organizations nationwide. PlanMember Securities Corporation is a registered broker/dealer, investment advisor and member FINRA/SIPC. For more information visit

About AXA Equitable

In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation’s premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including, AXA Advisors, LLC. The company’s products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC. Find AXA Equitable on Facebook and Twitter or visit the company’s multi-media newsroom The Source @ AXA Equitable.

AXA Equitable, a subsidiary of AXA Financial, Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. “AXA Group” refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit

Office Locations