Hub International Limited acquires Clark 401k Consulting to bolster retirement services

In a strategic move to enhance its retirement and private wealth services, Hub International Limited (Hub), a prominent global insurance brokerage and financial services firm, has acquired the assets of Clark 401k Consulting, LLC. While the terms of the acquisition were not disclosed, the deal marks a significant expansion for Hub’s Retirement and Private Wealth (RPW) practice.

Expansion into 401(k) consulting

Clark 401k Consulting, based in Los Gatos, California, is a well-regarded independent firm specialising in 401(k) consulting and fiduciary processes. The firm is known for its expertise in areas such as independent 401(k) investment consulting, establishing fiduciary processes, retirement readiness, and plan optimisation strategies. Additionally, Clark 401k Consulting offers benchmarking, investment selection assistance, and monitoring services.

The acquisition sees Christopher Clark, an Accredited Investment Fiduciary® (AIF®) and Investment Consultant, along with his team, join Hub’s Retirement and Private Wealth practice in Central and Northern California. This integration is expected to significantly bolster Hub’s capabilities in providing comprehensive retirement solutions.

Statements from Hub International Limited

Darren Caesar, CEO of Hub Central & Northern California, expressed enthusiasm about the acquisition, stating, “We are excited to have Chris and his team join us and look forward to using his expertise to help us grow the organization.”

Joe DeNoyior, President of Hub Retirement and Private Wealth, added, “Chris’s experience with not only retirement plans, but employee benefits and financial wellness, is an excellent fit for what we are focused on here at Hub.”

Strengthening retirement services

This acquisition underscores Hub RPW’s commitment to developing more comprehensive strategies for its clients. Hub RPW aims to help plan sponsors craft offerings that align with their business strategies, navigate fiduciary risks, and support employees in achieving their financial goals. With several registered investment advisory affiliates, Hub RPW manages approximately $148 billion in client assets, positioning itself as a significant player in the investment advisory sector.