Hub International Acquires $2.3B AFS 401(k) Retirement Services
Image via hubinternational.com News>Industry Hub International Acquires $2.3B AFS 401(k) Retirement Services AFS 401(k) Retirement Services and AFS Financial Group is a retirement plan and wealth management consulting firm with $2.3 billion in assets under advisement. Hub International, a publicly traded insurance brokerage and financial services firm based in Chicago this week announced they acquired AFS 401(k) Retirement Services and AFS Financial Group, a retirement plan and wealth management consulting firm based in Bethesda, Md., with $2.3 billion in assets under advisement.
AFS was founded in 1988 and is led by principal Alex Assaley. It supports mid- and large-sized organizations in managing employer-sponsored retirement plans and financial wellness programs, according to the company. The AFS dedicated wealth management team is led by founder Alp Atabek and principal Jason Dahl.
Hub International has over 17,000 employees in offices located throughout North America. Hub has announced dozens of other acquisitions in recent years, the majority of which have added to its insurance business. The Hub Retirement and Private Wealth practice services about $148 billion total assets.
Wise Rhino Group, an M&A advisory practice serving retirement wealth and third-party administrator advisory firms based in Charleston S.C., represented AFS in the deal, the terms of which were not disclosed.
TAGS: Retirement News 0 comments Hide comments
Comment * Switch to plain text editorMore information about text formats
Text format CommentsPlain text Comments- Allowed HTML tags: <em> <strong> <blockquote> <br> <p>
- No HTML tags allowed.
- Web page addresses and e-mail addresses turn into links automatically.
- Lines and paragraphs break automatically.
- Load More
- Next Article
- Previous Article
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.
Originally posted on: https://www.wealthmanagement.com/industry/hub-international-acquires-23b-afs-401k-retirement-services