David Reich, National President of Hub International’s Retirement and Private Wealth, died Sunday of a heart attack while biking.
“It is with a very heavy heart that we write to inform you of the passing of David Reich,” according to an announcement sent Tuesday morning and forwarded by GRP Advisor Alliance. “David suffered a heart attack on Sunday, July 26th while biking. All of us who were blessed to know David will remember a man with boundless energy and a love of life whose quick wit was matched by his deep love for friends and family.”
Reich came to Hub after six years with LPL Financial, ending his tenure with the broker-dealer giant as EVP, Head of Retirement Partners. Before that he spent a decade with Ameriprise Financial.
“Our team just received the devastating news that our friend, committee member, and speaker David Reich passed away suddenly over the weekend,” Advisor2X, producers of EXCEL 401(k): The Advisors’ Conference, posted on LinkedIn. “Our team is devastated by this loss, yet we are incredibly grateful for all of his contributions to this industry. Our thoughts and prayers go out to the family, friends, and this entire community who will miss him dearly.
“We owe many thanks to David Reich, National President, Hub Retirement & Private Wealth,” the post continued. “As an industry leader, a committee member, and a speaker, he was an integral part of Excel 401(k) and we will miss him dearly. Our thoughts and prayers are with his family, friends, and our entire community who has suffered such a loss.”
Hub M&A
Reich most recently oversaw Hub International’s buying spree involving a number of high-profile advisory firms, including Washington Financial Group, StoneStreet Pearl River, Perennial Pension and Wealth, Wharton Hill Advisors, EPIC Retirement Services Consulting and Inter-Mountain Retirement Partners (MRP).
“That would be a lot more convenient, wouldn’t it?” Reich laughed when facetiously asked if his strategy was simply to buy his friends’ firms. “Our intent there was to put together quality groups and capabilities and bringing in the right people and working with them, as it is here. If you know them and know they are a great fit, it’s easier to do that than with someone brand new.”
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.
