Hub International, a global insurance brokerage and financial services firm, has expanded its retirement services platform with the acquisition of the assets of Washington Financial Group (WFG), a provider of employer plan and wealth management services, according to a news release.
Terms of the deal were no disclosed.
Headquartered in McLean, Va., and led by Joe DeNoyior, chief executive officer, and Jeff Hamblen, president, it was named one of Plansponsor's Top 100 Retirement Plan Advisors in 2018 and Retirement Plan Advisor of the Year in the Small Team category in 2017.
DeNoyior will join Hub Mid-Atlantic, working with Reich and collaborating heavily with Hub president and CEO Charles Brophy, who also serves as regional president, U.S. East, the release said.
The addition of WFG will strengthen Hub’s growing retirement planning and services benefits, and develop more comprehensive solutions for clients, the release said.
Earlier this year, Hub acquired Chicago-based Sheridan Road Financial, an institutional investment consulting and private wealth firm offering investment management, retirement plan expertise, fiduciary services, wealth management, financial and retirement services planning and specialized executive benefit services. Sheridan Road services more than 300,000 individuals through its retirement plan and wealth management practices.
“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 prepared 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."