An Albert Lea financial company is operating under a different name but the same philosophy.

Alliance Benefit Group Financial Services Corp. became intellicents Dec. 1. The company focuses on employee benefits consulting, investment advisory and personal wealth management.

The name change was made after Alerus Financial purchased the employee benefit administration and record keeping of Alliance Benefit Group North Central States in 2015.

“When we sold that division to Alerus, we could have kept the name Alliance Benefit Group, but we knew that it had a brand that did not represent us anymore, and we knew within a year we were going to change our name,” said Brad Arends, CEO of intellicents.

“We took the word intelligence, took the last syllable out and changed it to cents, so when a person looked at it, they would say, ‘OK, I understand that is a play off of the word intelligence, but it has to have something to do with money.’”

Arends said staff still provide personal financial services, and constant technology services will complement financial service delivery.

A digital adviser tool provides professional investment selection and asset allocation, flexible distribution options, an online investment advice tool, online reporting, investment management and available financial planning services. Employer services are available, and a financial wellness app includes one place to aggregate financial accounts, self-help financial calculators, an electronic vault to store important documents and available financial planning services.

Custom target date funds are available to help clients as they invest and plan for retirement.

Intellicents, which has an office in Kansas City, Missouri, and Eden Prairie, hopes to expand satellite sites to cities such as Des Moines, Sioux Falls, South Dakota, and Duluth. Albert Lea jobs will not be exported to those sites, Arends said.

The name change was done in a planned rollout.

“We took our time, and I think we did it right,” Arends said.

The intellicents building, 100 N. Broadway, has undergone extensive renovation over the last year. It was the former home of Alliant Energy.

Windows have been replaced, and work has focused on the building being conceptual, yet true to its roots, Arends said. A staircase was refinished and work has opened more space.