CHICAGO — Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of AFS 401(k) Retirement Services, LLC (AFS 401(k)) and AFS Financial Group, LLC (AFS Financial, and together with AFS 401(k), AFS). Terms of the transaction were not disclosed.
Headquartered in Bethesda, Maryland, AFS is a nationally recognized leader in providing forward-thinking retirement plan consulting and wealth management services to companies, organizations, individuals, and families. AFS 401(k) supports mid- and large-sized organizations in managing employer-sponsored retirement plans and financial wellness programs, including complex fiduciary oversight, plan design, and employee advice coaching services. The AFS Financial dedicated wealth management team takes a personal approach to delivering full-scope financial planning and investment management services to their client relationships, often managing family relationships that span several generations.
“AFS’s reputation and relationships will help us continue the strategic expansion of our retirement and wealth management services,” said Hub Retirement and Private Wealth President Joe DeNoyior. “We are enthusiastic about our future together and excited to have their entire team join HUB. Their passion to help clients shows in everything they do.”
Alp Atabek, Founder and Principal; Alex Assaley, Principal; Jason Dahl, Principal; and the entire AFS team will join Hub Mid-Atlantic. “We are thrilled to be part of the Hub team – gaining access to their size, scale, resources, and technology to continue delivering industry-leading and reliable services to our clients, helping them work toward a successful financial future and guiding them to make the best decisions for today, tomorrow and their long-term retirement goals,” said Assaley.
“We look forward to the AFS team joining Hub, which builds on our strong team and further deepens our expertise in this area,” said Joe Brown, President of Hub Mid-Atlantic.
The move continues to strengthen Hub’s Retirement and Private Wealth (RPW) practice and its services to develop more comprehensive strategies for clients. 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. The several registered investment advisory affiliates in HUB RPW provide investment advisory services to clients whose total assets are approximately $148 billion.
Wise Rhino Group served as financial advisor to AFS for the transaction.
SOURCE Hub International Limited
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