Beneficial Financial Group is principally a life insurance company owned and operated by The Church of Jesus Christ of Latter-day Saints through the Deseret Management Corporation. Formerly named the Beneficial Life Insurance Company, it was established in 1905 to service the needs of employers in the Salt Lake area, including the church itself. BFG runs several subsidiaries including Beneficial Life Insurance Company and Allegis Advisors. It's current CEO is Kent Cannon.