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Steven
Effron

Welcome to Steven Effron's page!

Boca Raton, Florida

With more than 30 years of experience in the financial services industry, Steven Effron most recently co-founded The Fimark Group, Inc. Based in Boca Raton, Florida, The Fimark Group specializes in wholesaling fixed-rate and indexed annuities. Steven Effron and his partner collaborate with insurance companies to deliver distinctive guaranteed-income products. Serving as the company’s Executive Vice President, Steven Effron oversees all administrative responsibilities. at the company headquarters.

Professionally associated with a range of banks and broker dealers, Steven Effron relies on a team of talented individuals to wholesale and distribute annuity products. Further information regarding the products and services provided by The Fimark Group, Inc. can be found online at fimarkgroupinc.com.

Steven Effron earned a Bachelor of Science in Business Administration from Suffolk University. Throughout the course of his career, Steven Effron has served as a senior executive for several large investment firms. His previous work experience includes leading sales organizations, multiple distribution firms, and wholesaling teams to distribute investment products to financial institutions and broker dealers throughout the country.


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  • Steven Effron Discusses Independent Insurance Wholesalers and the Recession, Steven Effron
    October, 2011
    As a result of the recent economic downturn, opportunities have become available for wholesale, third-party providers to service insurance firms through the sale of annuities. Below, Steven Effron, Executive Vice President and co-founder of annuity wholesaler The Fimark Group, Inc., explains the role wholesalers have in the insurance process and how the United States’ recession has impacted the insurance industry.

    Q: Can you explain the main function of independent insurance wholesalers?
    A: Independent annuity wholesalers offer specific insurance accounts including fixed and indexed annuities to retail customers such as financial institutions and broker dealers.

    Q: How did independent annuity wholesalers manage to thrive in the recent financial crisis?
    A: During the recession, insurance brokers who specialized in finding cost-efficient plans were working, proving that people were still buying annuities at the height of the economic downturn. However, many insurance companies trimmed staff, including in-house wholesalers. As a result, an opportunity for insurance companies to partner with independent wholesalers was created.

    Q: How might working with independent annuity wholesalers benefit insurance companies?
    A: Insurers who work with independent wholesalers are often able to secure representation by several disribution companies, gaining marketing exposure and an increased chance of policy distribution at banks. As opposed to in-house wholesale departments that accumulate significant travel expenses, independent wholesalers are often paid only after sales are complete, which can decrease insurer overhead by a substantial amount.

    Q: What is The Fimark Group’s approach to partnering with insurance companies as a third-party wholesaler?
    A: As discussed in a recent article in Financial Planning, the Fimark Group distributes indexed annuities within banks. During the recession, we saw that due to low interest rates the sale of fixed-annuities was slowing down and insurers were trimming back on distribution spending. As annuity experts, The Fimark Group specializes in providing insurance companies wholesale-focused, rate-sensitive opportunities.