Global insurance brokerage firm Hub International has acquired Washington Financial Group, a McLean, Va.-based provider of employer plan and wealth management services, Hub International said in a news release.
Terms of the deal were not disclosed.
Washington Financial serves more than 120 retirement plan sponsor clients with $1.5 billion in assets under management. It also has more than 400 wealth clients with $800 million in assets under management, according to Hub.
"WFG has demonstrated leadership and a commitment to excellence in driving better solutions not just for employers but for hard-working employees as well," David Reich, national president, Hub Retirement and Private Wealth, said in the news release.
Washington Financial's CEO Joe DeNoyior will join Hub's Mid-Atlantic division as part of the transaction.
The deal follows Hub's acquisition of Sheridan Road Financial in January and Peak Financial Group in March. The firm has acquired about 15 organizations over the last three years, according to Hub.
