Insurance brokerage Hub International Ltd. has snapped up 15 retirement plan firms this year, further pushing into a market it first entered in 2019.
The Chicago-based company today announced that it has bought the assets of Pittsburgh-based Fiducia Group, which manages about $2.3 billion among its retirement plan clients. Along with that deal, Fiducia managing principal Charley Kennedy and chief compliance officer and principal James Bartoszewicz are joining Hub.
Fiducia specializes in 401(k) consulting and also works with public entities, nonprofits and Taft-Hartley plans.
This year, Hub has been focused on expanding its presence in the retirement market, adding a service aimed at small businesses in March. That option, Hub Retirement Select, is intended in part to win retirement plan business from the roughly 600,000 corporate clients for which the company already provides employee benefits or insurance services.
In July, Hub disclosed a deal for Austin, Texas-based Trusted Capital Group, which had about $4.6 billion under management at the time, among about 750,000 plan participants.
Among other retirement plan consultant or adviser acquisitions this year, the firm also picked up $2.4 billion Plan Sponsor Consultants, $500 million Aegis Retirement Group, $400 million Epstein Financial and $1.6 billion IBG Financial Partners.
Currently, Hub Retirement and Private Wealth includes about $105 billion in assets across the advisory affiliates in that division, according to the firm. The company had about 10,000 retirement plans in its book of business at the time it announced Retirement Select.
In 2019, Hub made a significant move into the retirement plan business, with the purchase of Sheridan Road Financial’s $14 billion in assets at the time, along with more than $40 billion of business from Global Retirement Partners’ member firms.
Across its wider business, Hub International report having more than 13,000 employees in numerous offices in North America.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
