Insurance broker Hub International acquired retirement plan consulting firm IBG Financial Partners, Hub announced in a news release Thursday.
Terms of the deal, which closed April 1, were not disclosed.
The acquisition of the Foxborough, Mass.-based firm added 70 plan sponsor clients with roughly $1.6 billion in assets under advisement to Hub's client roster, a Hub spokeswoman said.
As part of the transaction, Peter Vacheron, principal of IBG, and the entire IBG team of six staff members will join Hub Retirement and Private Wealth.
The acquisition follows Hub's purchase on April 2 of Plan Sponsor Consultants, an Atlanta-based retirement plan consulting firm. In March, it also snapped up the assets of Ohio-based Benefit Strategies Agency and its affiliate Financial Strategies Agency, two employee benefits, retirement and financial planning firms, following its acquisition of Boston-based registered investment adviser firm Alpha Pension Group on Dec. 31.
Hub has been acquiring retirement-focused firms since 2017 in a push to bulk up its retirement plan and wealth management business.