Insurance broker Hub International acquired registered investment adviser firm Epstein Financial Services and its related affiliate Epstein Financial Group, Hub said in a news release Wednesday.
Terms of the deal were not disclosed.
The acquisition of the East Longmeadow, Mass.-based firm will add 70 retirement plans with $400 million in assets under management to Hub's platform, a Hub spokeswoman said.
As part of the transaction, Charlie Epstein, principal and founder of Epstein Financial, will join Hub Retirement and Private Wealth in New England.
The transaction follows Hub's acquisition of retirement plan consulting firms IBG Financial Partners and Plan Sponsor Consultants in April. 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 bolster its retirement plan and wealth management business.