NFP Acquires Fiduciary First, LLC and The Participant Effect, LLC
Acquisition expands NFP's retirement and financial wellness capabilities
NEW YORK – January 22, 2019 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, today announced that it has acquired the assets of Fiduciary First, LLC and The Participant Effect, LLC. The transaction closed effective October 1, 2018.
Located in Maitland, Florida, Fiduciary First provides retirement plan consulting and fiduciary risk management for corporate and government employers in the Southeast. The Participant Effect offers financial wellness education as an added service to the individual participants of all retirement plan clients. The acquisition expands NFP's retirement capabilities in the Southeast region and builds upon NFP's robust offerings within the financial wellness space. Former principals Jamie Hayes and Don Faller will be joining NFP as senior vice presidents.
"We're excited to have Fiduciary First and The Participant Effect join the NFP family," said Nick Della Vedova, president of NFP's Retirement division. "Jamie, Don, and the rest of the Fiduciary First team are such a great cultural fit as collectively we understand the changing dynamics of our client's needs that includes the convergence of wealth and heath."
"We're thrilled to begin this new chapter with NFP, which will vastly expand our network and further enhance our deeply personalized approach to retirement plan consulting and employee financial wellness," said Jamie Hayes, senior vice president at Fiduciary First. "Joining NFP will enable us to expand our capabilities and explore additional enhancements for both our existing clients and prospects."
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
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