Pensionmark Financial Group, its branch offices and $80 billion in assets have been acquired by World Insurance Associates, the latest major company to be acquired in a red-not 401k advisory M&A market that shows little signs of slowing.
Wise Rhino Group (WRG), an M&A advisory firm serving retirement and wealth advisors, TPAs, and fintechs, announced the deal yet did not disclose the terms of the transaction.
“Pensionmark has been an innovative and successful financial services platform for many years”
Peter Campagna
“Headquartered in Santa Barbara, Calif., Pensionmark has distinguished itself in the financial advisory field through its unique support platform for financial advisors, providing its advisors and their clients with a boutique experience combined with the strength and resources of a large national firm,” according to WRG. “The transaction includes Pensionmark’s Advisor Support Platform, the Pensionmark Financial Group registered investment advisor, and the Pensionmark Securities broker-dealer.”
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“Pensionmark has been an innovative and successful financial services platform for many years,” Peter Campagna, Partner at Wise Rhino Group, added. “Troy, Mike and their entire close-knit network of member firms have collectively built a foundation that World Insurance has the opportunity to grow and scale. It’s an ideal situation for both firms and adds another compelling alternative for our sell-side clients as they look to strategically align with dynamic partners.”
World Insurance Associates is a full-service insurance brokerage providing individuals and businesses with products and services across personal and commercial insurance lines, employee benefits, retirement and financial services, and human capital management solutions.
Founded in 2011, World has completed 140 acquisitions and serves its customers from 170 offices across the United States. World is a Top-100 U.S. Broker, ranked No. 2 on the Fastest Growing Brokers list by Business Insurance, and is a Top-50 ranked personal lines agency by Insurance Journal.
MORE INFORMATION ABOUT WISE RHINO GROUP AND ITS M&A DEALBOOK IS FOUND HERE