Company Overview

Security National Financial Corporation is a diversified financial services holding company operating primarily in the insurance, mortgage banking, cemetery and mortuary services, and consumer finance industries. The company’s core business model centers on providing financial protection products and related services to middle-income and senior-focused customer segments, with an emphasis on vertically integrated operations that combine underwriting, distribution, and servicing.

The company generates revenue through life insurance premiums, mortgage origination and servicing income, cemetery and mortuary sales, and consumer loan interest. A key strategic advantage is its integrated distribution model, which links insurance sales with funeral and cemetery services, enabling cross-selling and customer retention. Founded in 1965, the company has evolved from a regional insurance-focused business into a multi-segment financial services organization through organic growth and targeted acquisitions, while remaining controlled by its founding leadership.

Business Operations

Security National Financial Corporation operates through several primary business segments: Life Insurance, Mortgage Banking, Cemetery and Mortuary Services, and Consumer Finance. The Life Insurance segment is conducted primarily through Security National Life Insurance Company, offering preneed and final expense life insurance products. The Mortgage Banking segment, led by SecurityNational Mortgage Company, originates and services residential mortgage loans, generating revenue from loan sales, servicing fees, and interest income.

The Cemetery and Mortuary Services segment operates cemeteries, mortuaries, and cremation facilities, often integrated with preneed insurance products. The Consumer Finance segment provides small-balance loans to individuals, primarily in selected U.S. states. Operations are predominantly domestic, with limited international exposure, and the company controls key underwriting, servicing, and operational assets rather than relying heavily on third-party platforms.

Strategic Position & Investments

The company’s strategic direction emphasizes stable cash flow generation, conservative underwriting, and vertical integration across insurance and funeral services. Growth initiatives have focused on expanding mortgage origination volume, selectively acquiring cemetery and mortuary assets, and increasing penetration of preneed insurance products tied to its funeral services network. These strategies are intended to reduce customer acquisition costs and improve long-term policy persistency.

Security National Financial Corporation has historically pursued smaller, tuck-in acquisitions rather than large-scale transformative transactions. Notable subsidiaries include Security National Life Insurance Company, SecurityNational Mortgage Company, and multiple wholly owned cemetery and mortuary entities. The company has not publicly disclosed material investments in emerging financial technologies, instead prioritizing established, regulated business lines with predictable demand.

Geographic Footprint

The company is headquartered in Salt Lake City, Utah, and operates primarily across the United States. Its insurance and consumer finance operations are licensed in multiple states, while mortgage banking activities have a nationwide footprint through correspondent and retail lending channels. Cemetery and mortuary operations are concentrated in selected regional markets rather than uniformly nationwide.

While the company does not maintain significant international operations, its broad U.S. licensing and regulatory presence provide access to diverse regional markets. The geographic strategy emphasizes operating in jurisdictions with favorable regulatory environments for insurance, lending, and funeral services.

Leadership & Governance

Security National Financial Corporation maintains continuity in leadership, with significant involvement from its founding family, contributing to a long-term, conservative management philosophy focused on capital preservation and steady growth. Governance reflects a centralized decision-making structure aligned with its holding company model.

Key executives include:

• Scott M. Quist – President and Chief Executive Officer
• Michael L. Petersen – Chief Financial Officer
• Scott J. Quist – Vice Chairman of the Board
• Scott C. Quist – Executive Vice President

Leadership has consistently emphasized disciplined risk management, regulatory compliance, and incremental expansion within core competencies rather than rapid diversification.