US-based USI Insurance Services (USI) has announced the acquisition of Beasley & Company to expand retirement consulting operations.

USI did not disclose the terms of the transaction.

The acquired firm offers benefit consulting services with a focus on retirement, executive compensation and health & welfare benefit plans.

Founded in 1992, Beasley & Company is based in Tulsa, Oklahoma.

As per the terms of the agreement, Beasley & Company’s operations will be merged with USI Consulting Group, a division of USI.

USI Consulting Group is engaged in offering defined contribution and defined benefit plan consulting and administration services.

Beasley & Company CEO John Beasley stated: “Over the last 30 years, Beasley has built a strong reputation for delivering creative ideas and decades of industry expertise to help organizations reward their people with customized solutions.

“USI Consulting Group is an industry-leading retirement plan consulting firm, and I am confident this partnership will further enhance the value and expertise we deliver to our clients each day.”

USI Consulting Group president and CEO Bill Tremko said: “We are excited to welcome John and the entire team of professionals from Beasley & Company to the USI family. Together, we look forward to expanding the delivery of USI’s retirement consulting expertise and solutions to our current and future clients.”

New York-headquartered USI offers property and casualty, employee benefits, personal risk programmes and retirement solutions.

In September 2021, USI purchased Reynolds & Reynolds, an independent risk management and employee benefits agency.