Insurance brokerage firm Hub International has acquired the assets of StoneStreet Pearl River for an undisclosed amount.
The acquired firm, which is based in Pearl River, New York, offers retirement plan consulting services to defined benefit, defined contribution and non-qualified plans.
StoneStreet Pearl River is led by Barbara Delaney, who will move to Hub Northeast as part of the deal.
Hub Retirement and Private Wealth national president David Reich said: “We’re excited for Barbara and the team to join Hub. Barbara is simply one of the best advisors in our space, and she and her team will help us continue our momentum in developing our retirement practice, and our partnership with the other parts of the Hub organisation.”
Hub said that this acquisition forms part of its strategy to strengthen its retirement planning services and benefits.
“The addition of this team will enhance our plan sponsor experience and bring financial wellness to a new level,” the company’s press statement read.
Delaney commented: “We felt that Hub was the right choice to help us continue to grow. We chose Hub because they are focused on where plan sponsors are going from a total employee benefits approach. The convergence of health and wealth is here, and Hub is in the best position to fulfill this vision for our plan sponsors.”
Under the arrangement, Delaney will join Hub Northeast.
The deal comes close on the heels of Hub International acquiring the assets of Washington Financial Group (WFG).
WFG, based in McLean, Virginia, provides employer plan and wealth management services.