WSFS to sell BMT Insurance Advisors to Patriot Growth Insurance Services
WSFS Financial Corporation has divested BMT Insurance Advisors (BMTIA), a Pennsylvania-based insurance brokerage and risk management consulting firm, to Patriot Growth Insurance Services for an undisclosed price.
Headquartered in Fort Washington, Patriot Growth Insurance Services is said to partner with employee benefits and property and casualty agencies throughout the US.
Dominic C. Canuso — WSFS Financial Corporation Executive Vice President and Chief Financial Officer said: “We evaluated many factors when making this decision, with a priority of maintaining high-quality service and products for our Clients, and continued opportunities for our BMTIA Associates.
“Our focus is on the long-term organic growth opportunities for the Bank, the Wealth and Trust business, and our other strategic fee-based businesses. We determined that the best opportunity for BMTIA was with Patriot, which brings additional product offerings and scaled operations to the team and is a leader in the insurance industry.”
BMT Insurance Advisors is licensed to operate in 50 states and has been catering to clients since 1922.
The company has a collaborative model for delivering resources and strategic support to its agencies.
Matt Gardner — Patriot Growth Insurance Services Founder and CEO said: “I am thrilled to have BMTIA join the Patriot family because not only are they on an accelerated organic growth path, they also have an amazingly talented team.
“As a lifelong Philadelphian, I was already familiar with BMTIA and I am excited for them to now have all of Patriot’s national resources to provide to their clients. I know this will be a great partnership.”