Hub International Limited has announced another acquisition.
This time – the fourth this week – the acquisition involves “certain assets” of WhartonHill Retirement Services, LLC, Strategic Planning Resources, Inc. and Karen McCloskey (collectively doing business as WhartonHill Advisors).
Once again, terms of the transaction were not disclosed.
Located in Ft. Washington, PA, WhartonHill Advisors is an institutional investment consulting and private wealth firm offering investment management, retirement plan expertise, investment fiduciary services, wealth management, financial and retirement services planning, and specialized executive benefit services.
WhartonHill Advisors’s assets under advisement, as of June 30, 2019, are in excess of $3 billion, according to the announcement.
WhartonHill Advisors principals Andrew DeGroat, John Wenz and Karen McCloskey join Hub's group of retirement plan and wealth management advisors. “We are extremely excited for this partnership with Hub,” said DeGroat. “Hub is a great fit for us. We share the same dedication to helping our clients obtain valued financial strategies and outcomes, both to and through retirement. We are also excited about the continuing partnership with both Global Retirement Partners and LPL Financial and look forward to expanding that relationship going forward.”
“We’re excited to have WhartonHill Advisors join Hub’s growing group of passionate, retirement plan and private wealth advisors,” said David Reich, National President, Hub Retirement and Private Wealth. “As the ‘health meets wealth conversation’ continues to grow in the workplace, we’ll continue to expand our advisory services to offer meaningful resources to help our clients reach better outcomes.”
DeGroat will join Hub Northeast, working with Reich and collaborating heavily with Paul Collins, President and CEO of Hub Northeast.
It’s been a busy week for Hub International. On Wednesday, Hub announced it had acquired the assets of New York City-based EPIC Retirement Services Consulting, LLC, while 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.
And the week’s not over yet…
