USI Consulting acquires retirement plan consultant Hooker & Holcombe

USI Consulting acquires retirement plan consultant Hooker & Holcombe
Connecticut-based H&H is led by president Richard S. Sych and has 68 employees.
MAY 01, 2023

Retirement plan consultant Hooker & Holcombe announced Monday that it has been acquired by USI Consulting Group.

Bloomfield, Connecticut-based H&H employs 68 professionals and is led by president Richard S. Sych. It has advised municipal, corporate and nonprofit organizations on retirement plans and other benefits since it was founded in 1956.

USI Consulting Group operates nationally as a full-service retirement plan consulting and benefits administration firm. It is an affiliate of both USI Securities Inc. and USI Advisors Inc., and is a wholly owned subsidiary of USI Insurance Services.  

M&A advisory firm Wise Rhino Group advised Hooker & Holcombe on the transaction. Terms of the deal were not disclosed.

“For more than 67 years, through the expertise of our dedicated and knowledgeable professionals, H&H has built a strong reputation for delivering effective retirement plan solutions that exceed client expectations. We look forward to advancing this longstanding tradition of service excellence through our partnership with USI Consulting Group,” H&H president Richard Sych said in a statement.

“We are thrilled to welcome the talented professionals from H&H to the USI family and look forward to strengthening USI’s retirement consulting expertise throughout the country,” Bill Tremko, president and CEO of USI Consulting Group, said in a statement about the deal.

Peter Campagna, partner at Wise Rhino Group, says H&H’s partnership with USI gives the H&H team an expanded base of resources and tools to take their already outstanding service to another level.

“These two firms are a terrific match and have a very bright future together,” Campagna said.

Latest News

NASAA moves to let state RIAs use client testimonials, aligning with SEC rule
NASAA moves to let state RIAs use client testimonials, aligning with SEC rule

A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.

Could 401(k) plan participants gain from guided personalization?
Could 401(k) plan participants gain from guided personalization?

Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.

UBS sees a net loss of 111 financial advisors in the Americas during the second quarter
UBS sees a net loss of 111 financial advisors in the Americas during the second quarter

Some in the industry say that more UBS financial advisors this year will be heading for the exits.

JPMorgan reopens fight with fintechs, crypto over fees for customer data
JPMorgan reopens fight with fintechs, crypto over fees for customer data

The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.