HUB International continued its acquisition spree with the announcement Wednesday that it has bought the assets of Epstein Financial Services LLC. and Epstein Financial Group LLC. (Epstein Financial).
The terms of the transaction were not disclosed.
Located in East Longmeadow, Massachusetts, Epstein Financial is an independent Registered Investment Advisor (RIA) providing corporate retirement plan consulting, compliance and regulatory guidance, as well as wealth management services.
“Their significant experience and resources help clients maintain a successful retirement program that will assist their employees to achieve financial security,” according to the announcement.
Charlie Epstein, Principal and Founder of Epstein Financial will join Hub Retirement and Private Wealth in Hub New England.
“We are excited to deepen our current capabilities with the exceptional marketing and sales expertise of Charlie and his team,” Timm Marini, Hub President of Western New England, said in a statement.
Major acquisitions
The deal continues to strengthen Hub’s retirement and wealth management services (Hub RPW) with the addition of talent and resources to develop more comprehensive strategies for clients, the company added.
Hub RPW works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk, and helps employees pursue their financial goals. The several registered investment advisory affiliates in HUB RPW provide investment advisory services to clients whose total assets are approximately $105 billion.
Epstein Financial was represented by the consulting firm Wise Rhino Group for the transaction.
The announcement was one of two in as many days involving high-profile 401k advisor firms. On Thursday, OneDigital announced it had acquired the assets of Fiduciary Plan Advisors (FPA), the Maryland-based retirement plan firm founded by former NAPA president and 2020 Top Advisor By Participant Outcomes (TAPO) Jania Stout.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
