BOSTON — Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced it has acquired full-service insurance brokerage and risk management consulting firm Advisor Brokerage Services (ABS). Terms of the deal were not announced.
Although well established in the state, ABS is the first acquisition in Austin, Texas, for Risk Strategies. Focused on serving alternative asset management firms, ABS offers highly specialized insurance coverages for large financial institutions, hedge funds, private equity firms and family offices.
“ABS values strong client relationships and is committed to serving the dynamic needs of institutionally-backed portfolio companies which aligns naturally with our company’s specialist approach to risk and private equity practice,” said Neil Krauter, Sr., Private Equity Practice Leader for Risk Strategies. “I have known and worked with Charles for over 20 years and am excited to welcome him and the Advisor Brokerage Services team to the Risk Strategies family.”
Since its founding in 2014 by Charles Newman, ABS has had strong ties to the rapidly growing Austin community. ABS was structured to accommodate a wide variety of accounts while also handling complex risks. The company’s extensive capabilities include comprehensive insurance solutions for portfolio investments, support for smaller placements, private client services, internal and external diligence, as well as request for proposal (RFP) consulting for portfolio companies and subsidiaries.
“As we explored elevating ABS and our clients, we looked for a partner that not only had deep technical skills, resources and market access to leverage, but also one that would maintain the entrepreneurial spirit our clients appreciate. Risk Strategies uniquely matched those two desires and we’re excited to continue to grow together,” said Charles Newman, Founder and Principal of Advisor Brokerage Services.
Risk Strategies continues to acquire complementary companies that have a unique and compelling value proposition and are additive to the Risk Strategies family. Over 100 organizations, each with specialty expertise and capabilities, have joined the company since its founding in 1997.
Source: Risk Strategies
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