On November 11, 2020, Hub International Limited announced an agreement to acquire Baystate Fiduciary Advisors, Inc.
Under the terms of the agreement, Hub International Limited (“Hub”) will acquire Baystate Fiduciary Advisors, Inc. (“Baystate”). Gregg Andonian, Managing Partner of Baystate, will join Hub Retirement and Private Wealth (“Hub RPW”). Further terms of the agreement were not disclosed.
Hub, based in Chicago, is a full-service global insurance broker providing risk management, insurance, employee benefits, retirement and wealth management products and services. Hub RPW manages more than $93 billion in assets.
Baystate, based in Boston, is a firm offering investment fiduciary advisory services to 401k and 403b plan sponsors with both a general business approach and a strong concentration in the non-profit sector. As of September 2020, Baystate had $2.9 billion in assets under management.
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