Hub swoops in for Washington Financial Group

Hub swoops in for Washington Financial Group | Insurance Business

Hub swoops in for Washington Financial Group

Hub International’s acquisition spree continues unabated, with the brokerage acquiring the assets of Wash Financial, dba Washington Financial Group (WFG).

Terms of the transaction were not disclosed.

Based in McLean, VA, WFG is a provider of employer plan and wealth management services. The firm was named one of PLANSPONSOR’s Top 100 Retirement Plan Advisers in 2018 and Retirement Plan Adviser of the Year in the Small Team category in 2017.

Following the acquisition, WFG CEO Joe DeNoyior will join Hub Mid-Atlantic. He will work with David Reich, Hub Retirement and Private Wealth national president, and will collaborate with Hub US East president and CEO, regional president Charles Brophy.

A release said that the acquisition will strengthen Hub’s retirement planning services and benefits, with the addition of WFG’s talent and resources.

“Our vast network of clients is asking for help, not only with managing the plans, but also helping their employees reach better outcomes,” commented David Reich. “WFG has demonstrated leadership and a commitment to excellence in driving better solutions not just for employers, but for hard-working employees as well.”

“We are excited to be part of the Hub team given their expertise, resources and technology to help our clients pursue their financial objectives, coupled with a commitment to provide an unsurpassed level of proactive service to each of our clients,” said Joe DeNoyior, who added that joining Hub enhances WFG’s service model while his team continues to use proven best practices for its retirement plan consulting and wealth management.