Chicago, January 9, 2019 – Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the assets of Sheridan Road Financial LLC and certain of its affiliates (Sheridan Road), one of the leading ranked institutional retirement consulting and private wealth firms in the country. Terms of the transaction were not disclosed.
Headquartered in Chicago, Illinois, with eight additional offices throughout the U.S., Sheridan Road is an institutional investment consulting and private wealth firm offering investment management, retirement plan expertise, fiduciary services, wealth management, financial and retirement services planning and specialized executive benefit services. Sheridan Road manages more than $14 billion in assets and services of more than 300,000 individuals through its retirement plan and wealth management practices.
“I’m excited to partner with the whole Sheridan Road team, as they have deep experience advising clients on specialized retirement plan, private wealth and investment needs,” said David Reich, Hub’s National President of Retirement Services, Hub International Investment Services. “Their capabilities add depth and breadth to our growing platform of holistic retirement services. Sheridan Road will be an integral part of expanding these services.”
Sheridan Road has been widely recognized for its thought leadership and was recently ranked as the #4 leading institutional consultant in the country by Barron’s. The firm was also named 2015 Retirement Plan Adviser Multi-office Team of the Year by PLANSPONSOR Magazine. Additionally, a number of Sheridan Road’s advisors have been named to the 2018 Financial Times 401 Top Retirement Advisers. The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans, such as 401(k) and 403(b) plans, across the U.S.
Founder and Chief Executive Officer of Sheridan Road, Daniel Bryant, and Managing Partner, Jim O’Shaughnessy, will join Hub Midwest and report to Mr. Reich and Neil Hughes, Central Region President collaborating heavily with Lerone Sidberry, President and CEO of Hub Midwest. Mr. Bryant was named President, National Sales, Retirement & Private Wealth and Mr. O’Shaughnessy assumes the role of President of Retirement and Private Wealth, Central Region. Sheridan Road’s advisors will be part of Hub International Investment Services Inc., member FINRA/SIPC, and a subsidiary of Hub. They will also maintain their Broker Dealer affiliation with LPL.
“We are extremely excited for this partnership with Hub,” said Mr. Bryant. “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. We are also excited about the continuing partnership with LPL and look forward to expanding that relationship going forward.”
About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer
Securities offered through LPL, member FINRA/SIPC. Advisory Services offered through Sheridan Road Advisors, a HUB Company and SEC registered investment advisor. LPL and HUB International are not affiliated.
2018 Barron’s Top Institutional Consultants is based on institutional investment assets overseen and revenue generated, number of clients, number of team members and their regulatory records, advanced professional designations and accomplishments. 2015 PLANSPONSOR Magazine award winners are nominated by industry professionals and selected based on quantitative evaluation of service levels and feedback from plan sponsor clients. 2018 Financial Times 401 Top Retirement Advisers awarded to financial advisors advising at least $50 million in defined contribution (DC) plan assets where DC plans represent at least 20% of total AUM. Advisors are graded on several criteria, including growth in DC plans and assets, plan participation rates, experience and industry certifications, and compliance record.