NEW YORK--(BUSINESS WIRE)--NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions, has expanded its corporate benefits business with the acquisition of Benefits Services Group, Inc. (BSG). The transaction was effective as of November 4, 2014.
The Colorado-based firm was founded in 2007 and has offices in Colorado Springs and Denver. BSG specializes in health and welfare benefit consulting by promoting employee health and employer profitability through integrated healthcare solutions. The firm has been a member of NFP Benefits Partners since 2007 and will continue to be led by Judith Mackey and Heidi Cottle.
Commenting on today’s announcement, Douglas W. Hammond, Chairman and Chief Executive Officer of NFP, said, “BSG brings a strong track record of innovation and success in the benefits industry and significantly bolsters our regional capabilities in Colorado and the mountain states. We are excited to welcome the BSG team to the NFP family.”
Also commenting on today’s news, John Hohman, West Regional Managing Director, said, “In addition to its broad benefits consulting acumen, the BSG acquisition adds a superior level of expertise in government contracting and multi-denominational faith-based health and welfare programs. Having worked with Heidi, Judith and their team since 2007 through NFP's benefits membership organization, we have seen firsthand their strong leadership and business talent. We know they will be a great addition to the NFP team.”
“We are thrilled to operate as part of NFP, allowing us to fully utilize the vast resources available and strong recognition and credibility associated with NFP. NFP’s industry reputation is unparalleled and will be a powerful catalyst for expanding our growth in the region," said BSG’s Mackey. “Further, NFP celebrates women entrepreneurs and business leaders, which is central to our firm’s identity and an important factor in selecting NFP as a partner.”
About NFP
National Financial Partners Corp. (NFP), along with its benefits, property & 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 Group supports independent financial advisors by offering broker/dealer and asset management products and services.
Most recently, NFP was ranked by Business Insurance as the 5th-largest benefits broker by global revenue, 4th-largest U.S.-based privately owned broker and 11th-largest Broker of U.S. Business. PlanSponsor has named NFP the 5th-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.
Benefits Partners is a national corporate benefits producer group made up of successful health care- and retirement-focused firms. Part of the NFP family, Benefits Partners supports more than 3,000 benefits professionals, representing over 45,000 corporate clients of all sizes throughout every industry in their efforts to achieve the highest levels of growth. Benefits Partners strives to foster a culture of idea-sharing that helps each of our firms add value to their practice, differentiate themselves from the competition and increase revenue.
For more information, visit www.nfp.com.
