NEW YORK--(BUSINESS WIRE)--NFP, a leading provider of benefits, property and casualty and life insurance, and wealth management services, has acquired Benefit Resources, Inc., a Cincinnati-based insurance consulting and brokerage firm that has been a member of NFP's Benefits Partners organization since 2008. The transaction closed on July 31, 2014.
Founded in 1988, the firm specializes in group benefits, HR and benefit compliance, benefit administration and individual insurance. The firm will continue to be led by Tim Marcagi, Managing Director, who will focus on strengthening the corporate benefits presence in the Midwest region. This acquisition further expands NFP’s Corporate Client Group presence in the Midwest and enhances the firm’s expertise in corporate and executive benefits.
Commenting on today’s announcement, Douglas W. Hammond, Chairman and Chief Executive Officer of NFP, said, “Benefit Resources reflects our commitment to seek companies that mirror our client-driven philosophy and that provide the highest-quality benefit solutions. The high-quality firm has deep expertise that will continue our growth in employee benefits and corporate services.”
Also commenting on today’s announcement is Ed O’Malley, President of NFP’s Corporate Client Group, “Benefit Resources brings over two decades of employee benefits and HR expertise to our team, further strengthening NFP’s ability to provide superior services to our business clients. We are excited to welcome the Benefit Resources team to the NFP family and look forward to leveraging their significant track record of success.”
National Financial Partners Corp. (NFP), through its benefits, property and casualty and life insurance, and wealth management businesses, provides diversified advisory and brokerage services to companies and high net worth individuals.
NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, property and casualty insurance, and retirement plans. The Individual Client Group provides retail and wholesale life insurance brokerage and wealth management advisory services. Advisor Services supports independent financial advisors by offering broker/dealer and asset management products and services.
Most recently, NFP was ranked by Business Insurance as the fifth-largest benefits broker by global revenue, fourth-largest U.S.-based privately owned broker and 11th-largest Largest Broker of U.S. Business. Plan Sponsor has named NFP the fifth-largest executive benefits provider of nonqualified deferred compensation plans by number of plans. The company also operates a top 10 independent broker/dealer as ranked by WealthManagement.com.
For more information, visit www.nfp.com.