Hub snags California firm

Incoming firm has assets of over $560 million

Hub snags California firm

Mergers & Acquisitions

By Ryan Smith

Global brokerage Hub International Limited has announced that it has acquired the assets of California-based Kornerstone. The terms of the transaction were not disclosed.

Kornerstone provides individuals and corporations with custom financial plans and investment advisory services. The firm has 150 clients with assets of more than $560 million.

Eric Blofsky, president of Kornerstone, and his team will join Hub Central & Northern California (CNC). Blofsky will report to Darren Caesar, president of Hub CNC.

The deal will provide Kornerstone with access to the resources of Hub, including technology, risk management services and specialists, to expand the retirement program relationships with their existing clients and expand their offering with employee benefits and property-casualty insurance.

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