Hub International Acquires The Assets Of Pennsylvania-Based WhartonHill Advisors

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Sep 19, 2019, 08:00 ET

CHICAGO, Sept. 19, 2019 /PRNewswire/ -- Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired certain assets of WhartonHill Retirement Services, LLC, Strategic Planning Resources, Inc. and Karen McCloskey (collectively doing business as WhartonHill Advisors). Terms of the transaction were not disclosed.

Located in Ft. Washington, Pennsylvania, WhartonHill Advisors is an institutional investment consulting and private wealth firm offering investment management, retirement plan expertise, investment fiduciary services, wealth management, financial and retirement services planning, and specialized executive benefit services. WhartonHill Advisors's assets under advisement, as of June 30, 2019, are in excess of $3 billion.

WhartonHill Advisors principals Andrew DeGroat, John Wenz and Karen McCloskey join Hub's growing group of retirement plan and wealth management advisors. Both Mr. DeGroat and Mr. Wenz were named to the Financial Times 401 Top Retirement Advisers in 2015, 2016 and 2017*. Ms. McCloskey is a member of the Women's Business Enterprise National Council (WBENC), a leading advocate for women business owners and entrepreneurs.

"We are extremely excited for this partnership with Hub," said Mr. DeGroat. "Hub is a great fit for us. We share the same dedication to helping our clients obtain valued financial strategies and outcomes, both to and through retirement. We are also excited about the continuing partnership with both Global Retirement Partners and LPL Financial and look forward to expanding that relationship going forward."

Hub continues to strengthen its retirement planning services with the addition of talent and resources to develop more comprehensive solutions for clients. Hub's team of retirement plan advisors provides objective guidance and support, focused on fiduciary risk management, plan optimization and helping more American workers better prepare for retirement.

"We're excited to have WhartonHill Advisors join Hub's growing group of passionate, retirement plan and private wealth advisors," said David Reich, National President, Hub Retirement and Private Wealth. "As the 'health meets wealth conversation' continues to grow in the workplace, we'll continue to expand our advisory services to offer meaningful resources to help our clients reach better outcomes."

Mr. DeGroat will join Hub Northeast, working with Mr. Reich and collaborating heavily with Paul Collins, President and CEO of Hub Northeast.

About Hub Retirement and Private Wealth
Hub Retirement and Private Wealth offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families. With more than 100 advisors, Hub Retirement and Private Wealth manages over $38 billion in assets and services. Learn more about Hub's retirement plans solutions.

About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub's vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.

*Awarded to financial advisors advising at least $50 million in defined contribution (DC) plan assets where DC plans represent at least 20% of total AUM. Graded on several criteria, including growth in DC plans and assets, plan participation rates, experience and industry certifications, and compliance record.

Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through WhartonHill Advisors, a division of HUB International Northeast Limited, a registered investment advisor. Insurance services offered through HUB International. WhartonHill Advisors, a division of HUB International Northeast Limited and HUB International are separate from and not affiliated with LPL Financial.

CONTACT:
Media: Marni Gordon
Phone: 312-279-4601
[email protected]
M&A: Clark Wormer
Phone: 312.279.4848
[email protected]

SOURCE Hub International Limited