HUB Worldwide Restricted, a full-service international insurance coverage brokerage and retirement plan supplier, lately introduced it acquired the property of Bridgecreek Funding Administration, LLC as HUB Worldwide approaches 70 acquisitions by the tip of the yr.
Situated in Tulsa, Oklahoma, Bridgecreek is an unbiased, boutique portfolio administration agency targeted on an unique clientele of high-net-worth people, households, companies and household foundations in Oklahoma, Texas, Kansas and Missouri. Bridgecreek at present manages greater than $1 billion in property underneath administration. Phrases of the transaction weren’t disclosed.
“Increasing our wealth advisory companies, significantly for personal purchasers, in our area is vital as we proceed to broaden and supply high-value companies to purchasers,” Travis Biggert, president of HUB’s Oklahoma and Arkansas area, mentioned in a press launch.
Bridgecreek co-founders Chuck Fuller, CEO, and Brian Carney, chief funding officer, and the Bridgecreek group will be part of HUB mid-America.
In a press release to PLANADVISER, Clark Wormer, HUB merger and acquisitions managing director, says that so far this yr, HUB has closed greater than 60 transactions and has publicly introduced 44 of them. He expects the agency will shut about 70 acquisitions by the tip of the yr. Going into the primary quarter of 2023, Wormer says the agency has greater than a dozen letters of intent to shut on extra offers.
“Our present acquisitions assist broaden our enterprise, whereas offering HUB staff with the instruments and assets they should proceed to supply best-in-class service to our purchasers,” Wormer mentioned in an e-mail.
Earlier this month, HUB introduced it acquired the property of Precedence Insurance coverage Associates, LLC., a Scottsdale, Arizona-based, women-owned unbiased insurance coverage company with greater than 30 years mixed business expertise. Precedence Insurance coverage Associates gives industrial and private insurance coverage options to people and companies within the area.
Shortly after that acquisition, the agency introduced the launch of its Skilled & Government Danger Specialty Apply, bringing collectively greater than 100 HUB specialists with government legal responsibility, skilled legal responsibility, tech/cyber and transactional danger insurance coverage placement capabilities and specialised danger and claims companies.
The follow will advise purchasers on navigating the altering danger panorama to guard their private and organizational status and property from complicated insurance coverage points that come up from claims and litigation exposures.
Hub has additionally lately introduced the launch of HUB Hashish Dispensary Insurance coverage, which seeks to streamline the best way medical or leisure hashish dispensaries safe enterprise insurance coverage protection in each authorized market within the U.S.