Insurance brokerage Hub International continues the rapid expansion of its wealth management and retirement planning capabilities through acquisitions, most recently adding the assets of Perennial Pension & Wealth as well as Inter-Mountain Retirement Partners, Hub says.
New York-based Perennial offers pension, retirement planning and wealth management services to individuals and organizations, according to a press release from Hub.
Bob Krieger, Perennial’s founder and CEO, will join Hub Northeast and report to David Reich, national president of Hub Retirement and Private Wealth, Hub says.
Hub also acquired the assets of Denver-based Inter-Mountain, the company says in a separate press release.
With a second office in Salt Lake City, MRP offers investment and retirement plan consulting services to corporations, governmental and nonprofit organizations as well as individual investors, Hub says. MRP currently works with over 250 organizations and more than 50,000 employees around the country, according to the press release. Chad Larsen, president and CEO of MRP, is joining Hub Colorado, the company says.
The companies didn’t disclose the financial terms of the deal.
The retirement and wealth management business of Chicago-based Hub International offers services to for-profit and non-profit organizations, individuals and families, the company says.
The company has made several strategic acquisitions to build the business in a matter of days.
Last week, Hub acquired the assets of New York-based EPIC Retirement Services Consulting, which offers retirement plan services to plan sponsors; McLean, Va.-based Washington Financial Group, which offers employer plan and wealth management services; N.Y.-based StoneStreet Pearl River, which offers retirement plan consulting services to defined benefit, defined contribution and non-qualified plans; and Ft.Washington,Penn.-based WhartonHill Retirement Services, which offers investment and wealth management, retirement services planning and executive benefit services.
Hub Retirement and Private Wealth now has more than 100 advisors overseeing over $38 billion in assets and services, according to the press release.