HUB International Limited (HUB) continues full steam ahead with its M&A activities, acquiring two more firms to expand its geographic footprint and strengthen industry and product expertise.
In its most recent acquisition, HUB announced Nov. 6 that it has acquired the assets of Renaissance Benefit Advisors Group, LLC (RBA). Located in New York City and Atlanta, GA, RBA is a nationally recognized retirement plan consulting and institutional investment advisory firm that provides the specialized experience and expertise needed to assist retirement plan sponsors in meeting and managing their fiduciary responsibilities under ERISA and mitigating fiduciary liability risk.
While the terms of the transaction were not disclosed, founder Ellen Lander and the RBA team will join HUB Mid-Atlantic, the announcement notes.
“The commitment of Ellen and the RBA team to being a trusted 'fiduciary partner' to their clients makes them an excellent fit for HUB as we continue to grow our presence in the Northeast,” stated HUB Retirement and Private Wealth President Joe DeNoyior.
“We're excited to be joining the HUB team,” added Lander. “They share our deep commitment to provide an unsurpassed level of proactive service, and we're confident that they are the right choice in supporting us and our clients as we continue to grow.”
Meanwhile, HUB announced on Nov. 3 that it has acquired the assets of Franklin Financial Group, LLC and Franklin Investment Group, LLC—collectively, Franklin Financial Group (FFG). Like the RBA transaction, the terms of this transaction were not disclosed.
According to this announcement, FFG is Maryland-based financial services firm that assists businesses and individuals with complex employee benefits, insurance and other financial needs.
William Franklin, Haswell Franklin Jr., James Franklin, Henry Franklin, all Managing Principals, and the FFG team will join HUB Mid-Atlantic.
“The Franklin Financial Group team brings amazing depth of experience across retirement plan management, wealth management solutions and employee benefits and insurance. They will be a great presence for us in the Baltimore area,” DeNoyior further stated.
MarshBerry served as financial advisor to FFG for the transaction.
The moves continue to strengthen HUB's Retirement and Private Wealth (RPW) practice and its services to develop more comprehensive strategies for clients. The several registered investment advisory affiliates in HUB RPW provide investment advisory services to clients whose total assets are approximately $148 billion.
