Global insurance brokerage Hub International has bought another investment consultant, swallowing up New York-based EPIC Retirement Services Consulting in its latest transaction announced Wednesday.
Terms of the deal were not disclosed.
EPIC brings 45 plan sponsor clients with $550 million in assets under management to Hub along with a small retail book of business, consisting of about 60 clients with $6 million in assets, according to a Hub spokeswoman.
EPIC has provided defined contribution and defined benefit plan services to plan sponsors and employee education to plan participants since 1999, Hub said in the news release.
The acquisition marks a week of buying activity for Hub. On Tuesday, the company said it bought New York-based StoneStreet Pearl River and on Monday it said it acquired Virginia-based Washington Financial Group, firms that added $7.1 billion in assets to Hub's business. The week's three acquisitions follow Hub's purchase of Peak Financial Group in March and Sheridan Road Financial in January.
EPIC's co-founder Eva Kalivas will join Hub's Northeast division as part of Hub's latest deal.
