NFP has announced the acquisition of Total Benefits Advisors, a Cleveland, Ohio-based advisory firm specializing in retirement services and employee benefits solutions for business owners and wealth management services for high-net-worth individuals.
Mark Breen, advisor and owner of Total Benefits Advisors, will join NFP as vice president, reporting to Steve Jans, Wealth Management national practice leader.
Jans said: "We're excited to welcome Mark and the Total Benefits Advisors team to NFP as we grow our presence in the greater Cleveland market. Total Benefits Advisors has built a strong reputation for delivering integrated benefits and wealth management solutions."
Since 2009, Total Benefits Advisors has helped employers and individuals in the Cleveland area with integrated wealth management, retirement services and employee benefits solutions, prioritizing direct, trusted client relationships. That combination of services under one roof, retirement plan advice for business owners alongside personal wealth management for high-net-worth clients, is the kind of full-service local practice NFP has targeted repeatedly as it rebuilds its wealth business market by market.
Breen said: "Our cultures are strongly aligned, and this combination allows us to maintain the relationships our clients value while enhancing what we can deliver, backed by NFP's national platform, specialized expertise and expanded resources."
The acquisition lands under NFP's Wealth Management practice as newly organized following a major restructuring of NFP's wealth business.
Aon sold a significant majority of NFP's wealth operations, including Wealthspire Advisors, Fiducient Advisors and Newport Private Wealth, to private equity firm Madison Dearborn Partners in a deal valued at roughly $2.7 billion that closed on October 30, 2025.
NFP retained its core institutional wealth, retirement plan advisory and financial wellness businesses, and named Jans national practice leader of the retained Wealth Management line, alongside Jessica Espinoza as leader of Retirement Advisory, shortly after that sale closed.
The Total Benefits Advisors deal is one of the first Cleveland-area acquisitions to fold into that reorganized structure, giving an early read on how NFP is rebuilding regionally after the divestiture.
The deal is the latest in a steady run of tuck-in acquisitions for NFP this year, following purchases including Hamilton Insurance Agency in Fairfax, Virginia, and Signature Personal Insurance in the Kansas City area, both intended to expand NFP's benefits, retirement and private client capabilities in specific regional markets.
Parent Aon has said it remains focused on disciplined portfolio management alongside investment in its core Risk Capital and Human Capital businesses, of which NFP's retained wealth and retirement advisory operations now form a part, rather than pursuing wealth-sector scale for its own sake.
That approach reflects a broader trend in the US benefits and wealth advisory space, where larger platforms continue to acquire smaller, locally rooted advisory firms to add regional expertise and client relationships without disrupting service continuity, a model NFP has used consistently since its own founding acquisitions in the mid-2000s.
The deal also sits within a record wave of wealth and RIA consolidation nationally. Echelon Partners reported 142 RIA transactions in the first quarter of 2026 alone, an all-time quarterly high, following a record 466 deals for full-year 2025.
Most of that activity is smaller tuck-ins rather than headline megadeals: FINTRX data put the median disclosed RIA deal size in the first quarter of 2026 at roughly $637 million, well below the $1.74 billion average, reflecting a market where serial acquirers like NFP absorb many modestly sized, locally rooted firms alongside a handful of much larger platform transactions.
Advisor succession is one widely cited driver of that broader wave, with Goldman Sachs estimating that roughly a third of financial advisors, representing about 40% of industry assets, are expected to retire within the next decade; whether that specific dynamic applied to Total Benefits Advisors' own decision to sell was not addressed in the announcement.
