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Insurance Broker Hub International Acquires Assets of $14 Billion Retirement Plan Group

By Alex Padalka January 11, 2019

Hub International, an insurance brokerage, has acquired the assets of Sheridan Road Financial, a financial advice and retirement plan consulting firm, Hub says.

Chicago-based Sheridan Road offers retirement services planning as well as investment and wealth management and consulting and executive benefit services from nine offices across the U.S., according to a press release from Hub.

Sheridan manages over $14 billion in assets and services across its practices for more than 300,000 individuals, Hub says. The companies didn’t disclose the terms of the deal.

Daniel Bryant, Sheridan’s founder and CEO, has been named president of national sales in retirement and private wealth at Hub, according to the press release. Jim O’Shaughnessy, Sheridan’s managing partner, will become Hub’s president of retirement and private wealth for the Central Region, Hub says.

The pair join Hub Midwest and will report to David Reich, Hub’s national president of retirement services and international investment services, and Neil Hughes, Hub’s president of the Central Region, according to the press release.

Sheridan will also maintain their broker-dealer affiliation with LPL Financial, Hub says. Reich had previously led LPL Retirement Partners, the firm’s retirement plan advisor unit, until joining Hub in June 2017.

"Hub is a great cultural fit for us. We share the same dedication to helping Americans retire with their dreams and dignity in place and are both passionate about empowering individuals and families to develop a financial roadmap and help them choose their day to retire,” Bryant says in the press release. “We are also excited about the continuing partnership with LPL and look forward to expanding that relationship going forward."