Advisory M&A News – 4/29/24

Aon Completes Acquisition of NFP

Aon plc, a professional services firm, announced that it has completed the acquisition of NFP from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners.

The transaction also included funds affiliated with HPS Investment Partners for an enterprise value of $13 billion, including $7 billion cash and assumed liabilities as well as $6 billion in equity in the form of 19 million Aon shares.

The acquisition of NFP expands Aon’s presence in the large and fast-growing middle-market segment. As an Aon company, NFP will operate as an “independent and connected” platform delivering risk capital and human capital capabilities from across Aon. The team will continue to be led by NFP CEO Doug Hammond, reporting into Aon President Eric Andersen.

“It is a historic day for our firm as we welcome NFP to Aon and work together to help clients address increasing volatility across risk and people issues,” Greg Case, CEO of Aon, said in a statement. “With high performing teams and leading content and capability—further enabled by our Aon business services operating platform – we will create more value for our clients.”

Wealth Enhancement Group Adds Lynch Retirement Investment Group

Wealth Enhancement Group announced the addition Lynch Retirement Investment Group, a hybrid RIA located in Columbia, Maryland. The team of three financial advisers and three support team members manages over $502 million in client assets and is led by senior adviser, John Lynch.

Founded in 1990, Lynch Retirement Investment Group offers guidance in financial planning, asset management, wealth management, longevity planning, retirement planning, tax planning and estate planning. The firm’s leaders have 50 years of combined experience.

“By partnering with Wealth Enhancement Group, our team will gain access to more resources and services to better serve our clients,” Lynch said in a statement.

The addition of Lynch Retirement Investment Group is Wealth Enhancement Group’s fourth location in Maryland.

UBS Hires Financial Adviser Team Led by Toregas

UBS Wealth Management USA announced that Christopher Toregas has joined the firm as a managing director and senior portfolio manager in the Century City office. Christopher and his team will join the firm’s Los Angeles market, managed by Market Executive Lauren Gorsche and Market Director Kreg Pearless.

“As one of the fastest growing financial advisers in the country, Christopher works with some of the most successful families in Southern California, New York City and beyond,” Pearless said in a statement. “Christopher and his team have deep expertise in helping families navigate the pre-liquidity planning process.”

Toregas Wealth Management provides personalized wealth management advice for corporate executives, entrepreneurs and individuals in the entertainment industry. The firm works with families across the country, with a distinct focus on New York and Southern California. Toregas is joined by Stephanie Ellor, team administrator.

Toregas previously worked at Morgan Stanley, where he founded and led the next-gen wealth management group in New York City before opening his team’s West Coast office.