Insurance brokerage and financial services megafirm Hub International Limited (HUB) announced Monday that has acquired the assets of Washington Financial Group (WFG).
Terms of the transaction were not disclosed.
Headquartered in McLean, Virginia, and led by CEO Joe DeNoyior and President Jeff Hamblen, WFG is a “nationally recognized, award-winning leader providing innovative employer plan and wealth management services.”
Most recently named one of 401(k) Specialist’s Top Advisor By Participant Outcomes (TAPO) for 2018, WFG “demonstrates a commitment to excellence for their plan sponsor clients and their employees.”
Washington Financial is part of aggregation firm GRPAA.
Acquisitions continue
“Hub continues to strengthen its retirement planning services and benefits with the addition of talent and resources to develop more comprehensive solutions for clients,” according to the company. “Hub’s team of retirement plan advisors provides unbiased guidance and support focused on fiduciary risk management, plan optimization and helping more American workers better prepare for retirement.”
“Our vast network of clients is asking for help, not only with managing the plans, but also helping their employees reach better outcomes,” David Reich, National President, Hub Retirement and Private Wealth, said in a statement. “WFG has demonstrated leadership and a commitment to excellence in driving better solutions not just for employers, but for hard-working employees as well. Joe, Jeff and their team are a great fit for Hub. They truly are leaders in the space.”
“We are excited to be part of the Hub team given their expertise, resources and technology to help our clients pursue their financial objectives, coupled with a commitment to provide an unsurpassed level of proactive service to each of our clients,” DeNoyior added. “Joining Hub enhances our service model while we continue to utilize proven best practices for retirement plan consulting and wealth management.”
DeNoyior will join Hub Mid-Atlantic, working with Reich and collaborating heavily with Charles Brophy, Hub President and CEO, Regional President, U.S. East.
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.