This is the second agency acquisition for Hub in Massachusetts in 2020
In its second acquisition of 2020, global insurance broker Hub International announced its acquisition of the assets of Baystate Fiduciary Advisors, Inc. According to the terms of the transaction Gregg Andonian, Managing Partner of Baystate Fiduciary Advisors will join Hub’s Retirement and Private Wealth in its New England office. Further terms of the transaction were not disclosed.
Based in Boston, Massachusetts, Baystate Fiduciary Advisors is a firm offering investment fiduciary advisory services to 401k and 403b plan sponsors with both a general business approach and a strong concentration in the non-profit sector. Baystate Fiduciary Advisors manages $2.9 billion in assets and services as of September 2020.
Hub notes that this latest acquisition helps strengthen the company’s retirement and wealth management services “…with the addition of talent and resources to develop more comprehensive strategies for clients.” With more than $93 billion in assets, the Hub RPW “…works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk and helps employees pursue their financial goals.”
Hub New England continues to grow its geographic footprint throughout New England
As one of the top insurance brokers both Massachusetts, New England, and the nation, Hub New England continues to expand its geographic footprint here in the Commonwealth. The following is a list of the agencies that Hub International and New England have acquired that have been covered by Agency Checklists:
- Hub Acquires Massachusetts-Based Lashua-LaChance & Poliks Insurance Agency, Inc. (May 19, 2020)
- HUB New England Acquires The Insurance Center of New England (August 6, 2019)
- Dadgar Insurance Acquired By Hub (December 18, 2018)
- HUB New England Announces Two More Acquisitions In Massachusetts (March 13, 2018)
- Hub Acquires FieldEddy (October 2014)
More about Hub International and Hub New England
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.
Since joining HUB in 2000, HUB New England has acquired the strongest partners in the region to expand its programs, specialties and capabilities. The company traces its roots back to some of the most well-known and reputable insurance agencies in the area that operate today as HUB New England. Our business model allows our clients to receive the many benefits of a national network at a local level.