CEO/Chairman Dale E. Toney
President & Chief Executive Officer
In 2005, Mr. Toney experienced a life changing event that clarified his perspective on the significance of his vocation. These events led to Mr. Toney and Dan L. Bates co-founding LifePoint Charitable Endowment, Inc. in 2008 to creatively apply their unique expertise in life insurance, life settlements and life insurance portfolio management to make a difference in the world. Mr. Toney has 15 years of experience in corporate finance, mergers and acquisitions and the life insurance and life settlement industries.
Mr. Toney graduated from the University of Houston with a BBA in Finance in 1992 and an MBA in Finance & Entrepreneurship in 1996. He has since been involved in the formation and launch of over a dozen companies and played a management role in two public offerings. While undertaking his MBA, Mr. Toney was the Founding Program Manager for the Center for Entrepreneurship & Innovation at the University of Houston's College of Business. While running the program on a day-to-day basis, he raised private money for the Center and assisted in the design of the curriculum that is now used in the University's Entrepreneurship Major. In 2008, the UH entrepreneurship program was ranked #1 in the nation by Entrepreneur Magazine and The Princeton Review.
Between 1993 and 1995, Mr. Toney developed an early understanding of the new technologies beginning to change the face of business and organized "Internet for CEO's" conferences designed to brief executives on the implications of the emergence of the Internet on their businesses. He later used his understanding of the technologies driving the internet boom to develop strategies for deploying eCommerce business units within the two companies he helped take public. Subsequently, Mr. Toney formed Ironwood Ventures, LP, within which he launched and managed several companies, placed strategic investments for clients, consulted on mergers and acquisitions, and participated in equity and mezzanine funding of several pre-public companies.
Mr. Toney is currently a Partner in South Coast Settlements, LLC, a licensed life settlement provider and South Coast Life Liquidity, LLP, an estate planning firm in Spring, Texas. Mr. Toney acts in the capacity of Chief Executive Officer of the South Coast Companies and co-manages the sales and marketing force. His technical expertise in finance and his recent practical experience in life insurance portfolio management uniquely qualify him to lead LifePoint.
CFO Dan L. Bates
Executive Vice-President & Chief Financial Officer
In 2008, Mr. Bates and Dale E. Toney co-founded LifePoint Charitable Endowment, Inc. to creatively apply their unique expertise in life insurance, life settlements and life insurance portfolio management to assist charitable organizations meet their long-term financial challenges.
Mr. Bates has 30 years of experience in financial planning, sales, marketing and financial management within the life insurance and life settlement industries. His expertise in the areas of life insurance, life settlement portfolio management and financial management is critical in the active management of the endowment's life insurance assets.
Mr. Bates began his financial planning career with Connecticut Mutual Life in Fort Worth, Texas after obtaining his Bachelor's Degree in Business Administration from Texas Christian University. He subsequently obtained the Chartered Life Underwriter and Chartered Financial Consultant designations from the American College in Bryn Marr, Pennsylvania. Since establishing a business and estate planning practice in 1979, Mr. Bates has been the recipient of numerous industry awards and business related recognition. Mr. Bates became recognized as an authority in financial and estate planning for the multi-generational family business owner.
In the mid 1980's Mr. Bates became the General Agent for Massachusetts Mutual in Portland, Oregon, and acted in that capacity for twelve years before assuming that role with Businessmen's Assurance Company in Phoenix, Arizona. While with Massachusetts Mutual in Portland, Oregon, Mr. Bates was responsible for all operations in Oregon, eastern Washington and Alaska. He was instrumental in the growth and development of the Oregon State University Family Business Program and lent his expertise to family businesses on estate planning, business succession and executive benefit issues. In Phoenix, Arizona, he established the Strategic Alliance for Family Business, an alliance of 15 professional firms that worked specifically with the unique needs of the multi-generational family business.
In 1997, Mr. Bates briefly left the life insurance industry to successfully engineer the merger and acquisition of three sports training facilities to form SportsTech International, LLC, a multi-sport training facility in Scottsdale, AZ. Under his leadership as the Managing Member, the resulting company doubled its locations and increased sales 400% in less than two years. Mr. Bates sold his interest in the company in January, 2000 to become the Executive Vice President of AFP Group, a fee-based financial planning firm in Houston, Texas.
Mr. Bates, and Mr. Toney, identified the need to integrate premium finance, life settlements and policy origination to provide a vertically integrated set of solutions for their estate planning clients. In 2003, they formed South Coast Life Liquidity, LLP, an estate planning firm and South Coast Settlements LLC, a licensed life settlement provider. South Coast Settlements has emerged as a successful life settlements provider having represented over $1.5 billion in face amount to the secondary market and developed an extensive network of policy buyers and agent/brokers from across the country. The result has been a developed expertise in all areas of an otherwise specialized market niche.
L. Randy Howard, P. E.
Member - Board of Directors
Mr. Howard joined the LifePoint Board of Directors in 2009, bringing experience of being on 16 current and prior boards, both business and civic, during his career.
Mr. Howard has worked for ExxonMobil for 33 years where he is Project Executive in charge of commercializing specialized new technologies. He has a degree in Mechanical Engineering from Texas Tech University. He has worked in a broad spectrum of the petroleum industry covering US and international business, including acquisitions, divestments, engineering, management, operations, planning, and research.
