Marsh & McLennan Agency (MMA), the middle-market subsidiary of Marsh, has agreed to acquire Centurion, a retirement consulting, asset management, and benefit-plan advisory firm.
Founded in 2006, Centurion offers institutional retirement plan consulting and fiduciary services to clients.
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The company oversees more than $16bn in retirement plan assets and 400,000 plan participants.
Centurion also provides private wealth management, financial planning services, and institutional pension consulting as well as employee group benefit consulting.
Following the completion of the deal, Centurion will become part of Trion Group, a Marsh & McLennan Agency.
The business will continue to be led by Jim Hageney, who has served as managing partner since the company’s formation.
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By GlobalDataTrion co-CEO Chris Veno said: “We are delighted to welcome Centurion’s talented and experienced retirement consulting services, investment and health professionals to MMA.
“The addition of Centurion will enhance our offerings and expand our expertise, especially in retirement planning, and enable us to provide even greater support to our clients.”
Hageney commented: “Joining the MMA team gives us the opportunity to provide additional innovative resources and solutions to our clients while creating new growth opportunities for our colleagues.”
The transaction, whose terms have not been divulged, is expected to close in the second quarter of this year.
