Arthur J. Gallagher & Co. has announced the acquisition of Illinois-headquartered MDV Wealth Planning. Terms of the transaction were not disclosed.

MDV Wealth Planning sells and places life insurance products for the clients of registered investment advisors, independent financial advisors, institutional brokers, life insurance professionals and property-casualty agents and brokers. The company focuses on C-suite executives and high-net-worth individuals.

Thomas Vilardo and his associates will continue to operate the business from their current location in Fox River Grove, Ill., and will report to Jeff Leonard, Gallagher’s national financial and retirement services practice leader.

“Gallagher continues to expand our capabilities in the individual life insurance and wealth planning space by seeking industry leaders, and MDV has a proven track record in this area,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher. “I am very pleased to welcome Tom and his associates to Gallagher.”