Hanson McClain acquires $235 million HBP Retirement

Hanson McClain Advisors of Sacramento, Calif., has acquired HBP Retirement Group, a Napa, Calif.-based registered investment adviser managing $235 million in assets. The acquisition, terms of which were not announced, increases Hanson McClain's AUM to $3.8 billion, and continues the 26-year-old firm's expansion efforts in the San Francisco Bay Area. Hanson McClain serves families in the Rocky Mountain, Midwest and West Coast markets, the company said in a release. (More: Hanson McClain taps private equity for first merger) In the last year, Hanson McClain said it has acquired a tax and accounting firm and added more than $1 billion in client assets.