CHICAGO — HUB International Limited (Hub), a leading full-service global insurance brokerage and financial services firm, announced today that it has acquired the operating subsidiaries of TCG Group Holdings, LLP d/b/a Trusted Capital Group (TCG). Terms of the transaction were not disclosed.
Headquartered in Austin, Texas, TCG is an investment and consulting firm that provides financial wellness solutions including wealth management, retirement planning, institutional advisory and more. TCG manages more than $4.6 billion in assets and serves over 750,000 individuals across hundreds of plans in the education, local government and small-to-medium business segments.
“TCG continues our strategy to expand our retirement capabilities and add top talent in Texas,” said Martin Yung, President and CEO of Hub Texas. “TCG has a deep understanding of the retirement landscape and regulatory issues, which will significantly benefit our clients.”
John Pesce, CEO of TCG, Jeff Montgomery, President, Scott Hauptmann, COO, Chris Jamail, CMO, and the TCG team will join Hub Retirement and Private Wealth in Hub Texas.
“Joining Hub will help us elevate our client offerings in addition to our investment and retirement planning solutions to continue to help our clients succeed,” said Mr. Pesce.
This move continues to strengthen Hub’s retirement and wealth management services (Hub RPW) with the addition of talent and resources 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 $105 billion.
Piper Sandler & Co. served as financial advisor to TCG in the transaction.
Source: Hub International Limited
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