Hub buys out Utah-based employee group benefits firm

New acquisition to be added to firm’s international insurance arm

Hub buys out Utah-based employee group benefits firm

Insurance News

By Lyle Adriano

Hub International Limited keeps the M&A train going with yet another addition: Utah-based Spectra Management.

The firm, based in Sandy, Utah, is an employee group benefits firm that helps companies “create an engaging employee benefits package that achieves the delicate balance between financial goals and company culture,” a release said. The firm’s retirement division provides 401(k) retirement services, fiduciary risk management services, investment due diligence, plan and compliance review, provider services and benchmarking, and wealth management.

In addition to its Sandy location, Spectra also has an office in St. George.

“It’s always been our priority to find the best technology and resources to serve our clients,” Spectra president and CEO Brent Bennett said. “Our decision to partner with Hub is simply a natural progression of our client-centric business model.”

A release said that Spectra will join Hub International Insurance Services, with Bennett continuing to lead Spectra’s operations.

“It’s no surprise that Spectra has earned a great reputation in the employee benefits and retirement industry. Brent and his team of industry experts are client-centric, actively involved and solution-oriented,” commented Hub national president of employee benefits Mike Barone. “We’re excited to add them to Hub as they will strengthen both of our benefits and retirement operations.”


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