Hub International, a Chicago-based insurance brokerage and financial services firm, has acquired GRP Financial California, a San Clemente, California-based retirement plan consulting firm managing $3.4 billion.
Terms of the transaction were not disclosed.
Hub has announced a spate of deals in the retirement space so far this month, including the acquisitions of $2.3 billion Pittsburgh-based 401(k) consultant Fiducia Group, Libertyville, Illinois-based Benefit Partners Group, which advises on 120 retirement plans totaling $290 million, and New York City-based Gold Sky Benefits, which consults on various employee benefits, including health insurance, property and casualty, wellness and student loan payment services.
GRP principals Jason Jeskey, Austin Gwilliam and Kyle Posvistak will join Hub California, along with all the members of the GRP Financial California team.
Hub’s retirement and private wealth group advises on $105 billion.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
