Hub International has acquired retirement plan services provider 401(k) Advisors, Hub announced in a news release Wednesday.
Terms of the deal were not disclosed.
The acquisition of the company will add 30 plan sponsor clients with $1.3 billion in assets under management to Hub's platform, a Hub spokeswoman said.
As part of the transaction, Stace Hilbrant, managing director of 401(k) Advisors, will join Hub.
The acquisition follows Hub's purchase in February of Kornerstone, a registered investment adviser firm that boosted Hub's retirement plan roster by 150 plans with more than $560 million in assets. The firm acquired 15 retirement-focused services firms last year, including the purchase of the operating subsidiaries of TCG Group Holdings, an investment and consulting firm that had nearly 1,000 retirement plan clients with about $7 billion in assets.
Hub has been acquiring retirement plan advisory firms since 2017 in a push to expand its retirement plan and wealth management business.
