Hub International Limited closed out a week of acquisition announcements with… another acquisition announcement.
Today Hub announced that it has acquired the assets of Perennial Pension and Wealth, Inc. As has been the case with the previous announcements, terms of the transaction were not disclosed.
Located in New York City, Perennial is an independent financial services company that provides pension, retirement planning, wealth management services and strategies to both organizations and individuals.
“Perennial Pension & Wealth is committed to understanding the unique needs of their clients, defining their goals and helping them feel more confident about their financial future,” said David Reich, National President, Hub Retirement and Private Wealth. “They are a great addition to our advisory team and will enhance our retirement planning and wealth management services for all types of businesses and individuals. We are excited to have Bob Krieger as a resource to our team.”
Krieger, the founder and CEO of Perennial Pension & Wealth, will join Hub Northeast, reporting to Reich. “I founded Perennial to address the fundamental retirement planning needs that exist in the workforce, and by joining Dave Reich and the Hub team, I believe we will be able to expand our offering and have a greater positive financial impact on many more lives and families,” he said.
A Busy Week
It’s been a busy week for Hub International. On Thursday, Hub announced the acquisition of WhartonHill Retirement Services, LLC, Strategic Planning Resources, Inc. and Karen McCloskey (collectively doing business as WhartonHill Advisors). On Wednesday, Hub announced it had acquired the assets of New York City-based EPIC Retirement Services Consulting, LLC. On Tuesday the firm announced that it had acquired the assets of StoneStreet Pearl River LLC, a firm led by Barbara Delaney. Hub launched the week with the news that it had acquired the assets of McLean, VA-based Washington Financial Group, a firm led by CEO Joe DeNoyior.
Hub acquired the $14 billion in assets of Sheridan Road Financial in January, and was recently reported to have reached an agreement to buy Global Retirement Partners, a $40.1 billion registered investment adviser that serves as LPL Financial’s largest retirement-focused branch.
