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Deals & People June 2, 2021
Epstein Financial Group Latest to Join Hub International
The rapid pace of retirement plan adviser acquisitions continues, with more and more well-established firms joining up with large national aggregators.
Reported by John Manganaro
Hub International has announced its latest acquisition of a retirement plan advisory firm in Epstein Financial, located in Longmeadow, Massachusetts.
Technically, Hub has acquired the assets of both Epstein Financial Services LLC and Epstein Financial Group LLC, which collectively do business as Epstein Financial.
Similar to the many firms that Hub has acquired over the last several years, Epstein’s focus is on corporate retirement plan consulting, compliance and regulatory guidance, and wealth management services. Terms of the transaction were not disclosed, but Charlie Epstein, principal and founder of Epstein Financial, will join Hub Retirement and Private Wealth within Hub New England.
Epstein Financial was represented by the consulting firm Wise Rhino Group for the transaction.
News of the deal comes after the first quarter of 2021 broke yet another quarterly record for adviser industry merger and acquisition (M&A) deal volume. Sources say all signs suggest 2021 is already on pace to be the ninth consecutive year of record-setting activity.
Various motivations and intersecting trends are fueling the M&A rush. In this case, linking health care and wealth management; maximizing practice scale and cross-selling opportunities; addressing individuals’ insurance and financial wellness needs—Hub’s new retirement plan specialist advisers hope to do all of this and more.