So maybe they weren't the very first investors, but they have been around for a while. Founded in 1930, First Investors provides investment and insurance services through its subsidiaries and affiliates. Its offerings include mutual funds, life insurance, annuities, college savings plans, and retirement planning. The company also runs First Investors Federal Savings Bank, which serves as custodian for its clients' IRAs. First Investors has approximately $7 billion in assets under management in some 500,000 client accounts. It operates about 50 offices in more than two-dozen states. Toronto-based fraternal benefit society Foresters acquired the company in 2011.
Following the deal, Chris Pinkerton, president of Foresters' US division, became president and CEO of First Investors as well. The Canadian institution hopes to use the acquisition as a platform to grow its US business and add new members.
First Investors manages more than 20 mutual funds that are invested in equities, municipal bonds, debt securities, corporate bonds, and money-market instruments. The company, which prides itself on its personal approach to investment management, courts middle-class investors. – less