HUB International Limited (Hub), a leading full-service global insurance broker, announced today that it has acquired the assets of Baystate Fiduciary Advisors, Inc. (Baystate Fiduciary Advisors). Terms of the transaction were not disclosed.
Based in Boston, Massachusetts, Baystate Fiduciary Advisors is a firm offering investment fiduciary advisory services to 401k and 403b plan sponsors with both a general business approach and a strong concentration in the non-profit sector. Baystate Fiduciary Advisors manages $2.9 billion in assets and services as of September 2020.
Gregg Andonian, Managing Partner of Baystate Fiduciary Advisors, will join Hub Retirement and Private Wealth (Hub RPW) in New England.
This move continues to strengthen Hub’s retirement and wealth management services with the addition of talent and resources to develop more comprehensive strategies for clients. Hub RPW works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk and helps employees pursue their financial goals. Hub RPW manages more than $93 billion in assets.