Transfer will outcome within the formation of a brand new agency
Insurance coverage Information
By
Property-casualty dealer NFP has introduced its plans to amass Actuarial Consulting Group, Inc. (ACG) and ACG Advisory Providers, Inc. (ACG Advisory). The acquisition, which is topic to customary approvals and shutting circumstances, is anticipated to be accomplished within the third quarter of 2023.
ACG Wealth Administration, a privately held agency working within the Richmond, Va., space, shall be collectively fashioned by integrating the operations of ACG and ACG Advisory. The transfer will allow NFP to supply complete retirement advisory, plan design, and administration options to its plan sponsor shoppers.
ACG makes a speciality of third-party administration and non-advisory consulting for each outlined contribution and outlined profit plans. Its consumer base primarily consists of ACG Advisory’s plan sponsor shoppers. ACG shall be built-in into NFP’s Atlantic area retirement division, beneath the management of Jessica Espinoza, managing director of retirement at NFP.
Moreover, ACG Advisory, an impartial registered funding advisor (RIA) with roughly $1 billion in belongings, providing particular person wealth administration and company retirement plan advisory providers, shall be built-in into NFP and its subsidiary, Wealthspire Advisors.
The company retirement plan advisory part of ACG Advisory will grow to be a part of NFP’s Atlantic area retirement division, led by Espinoza. The wealth administration part of ACG Advisory will combine into Wealthspire.
“We’re thrilled to welcome ACG to Wealthspire,” mentioned Mike LaMena, CEO of Wealthspire Advisors. “Their longstanding dedication to serving people, households, and enterprise homeowners as a trusted monetary associate aligns with our mission of creating a constructive influence. Their dedication to supporting charitable organizations and communities additional strengthens our shared values.”
J. Saunders “Sandy” Wiggins, CEO and president of ACG, will be part of Wealthspire as a managing director. Wiggins mentioned that becoming a member of forces with NFP and Wealthspire will empower ACG to keep up its dedication to shoppers with the added assist of in depth sources.
Earlier this week, NFP introduced the appointment of Hamid Abuzaid as chief of its Occupational Well being & Security Group. The corporate additionally not too long ago tapped Andrew Perkins to go up its North American commerce credit score and political threat follow.
Have one thing to say about this story? Tell us within the feedback under.
Associated Tales
Sustain with the newest information and occasions
Be a part of our mailing record, it’s free!