Press Releases

Horsham, PA — The Penn Mutual Life Insurance Company (Penn Mutual^®), a Fortune 1000 company, is pleased to announce that Mustaque Choudhury and Ken Kolosso have joined the company as managing principals within our national distribution organization, 1847Financial^®. Choudhury and Kolosso are based in Houston, Texas and Oklahoma City, Oklahoma, respectively. They will focus on driving growth and recruiting to 1847Financial locally in their home markets and nationwide.

"We are thrilled to welcome Mustaque and Ken to Penn Mutual," said Heather Nagengast, head of 1847Financial. "They bring a wealth of industry experience and expertise. We are confident they will play a pivotal role in 1847Financial's growth story."

Choudhury has more than fifteen years of experience in the financial services industry, with over ten being in management. During his career, he has successfully:

• Led over 100 financial professionals servicing over 2500 clients with over $2B in assets under management.

• Established and retained teams of top producing financial professionals.

• Developed deep knowledge and expertise working with multicultural markets.

"My goal is to build a diverse team of high-quality financial professionals to help the local community, individuals and businesses, with the solutions we have at Penn Mutual and 1847Financial," says Choudhury.

Kolosso has more than thirty years of experience in the financial services industry with fifteen years of expertise in recruiting and helping financial professionals meet their growth and client retention goals. During his career, he has proudly:

• Led his former firm to become a Master Firm (Top 10) in one year while increasing culture scores in his first year by 50%.

• Managed the merger of three firms leading to a top ranking for three consecutive years from 2019 – 2021.

• Achieved top-tier advisor recruiting results and company-leading retention.

"My goal is to build a best-in-class local destination of choice for high-performing, caring financial professionals and their teams," says Kolosso.

Our career agency system at Penn Mutual has recently adopted the name 1847Financial to represent our national organization, which serves over 1400 financial professionals and 180,000 investors across the United States. This change demonstrates our strong support for financial professionals offering insurance, annuity products, securities, and financial planning through Penn Mutual and the broker-dealer and RIA firm HTK.

Our commitment to our financial professionals and clients we serve remains stronger than ever. The name 1847Financial represents the deep connection to Penn Mutual's history and our unwavering commitment to our founding principles of mutuality. 1847Financial firms are dedicated to a client-first approach to life insurance and wealth management, with dedicated business planning, coaching and support in their local markets.

 

About The Penn Mutual Life Insurance Company

For more than 175 years, Penn Mutual has been helping people get stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

Penn Mutual, 1847Financial, and HTK are registered trademarks of The Penn Mutual Life Insurance Company and its affiliates.

Contact:
Nicole Campbell
Penn Mutual
215-956-8572
corporatecommunications@pennmutual.com