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Alternative Market Briefing

Hub International acquires Millennium Advisory Services

Wednesday, September 08, 2021

Laxman Pai, Opalesque Asia:

Millennium Advisory Services, a Virginia-based Registered Investment Advisors (RIA) is the latest asset management firm to join Hub International Limited's growing retirement and private wealth division.

The insurance brokerage and financial services firm headquartered in Chicago announced that it had acquired Glen Allen, Va.-based Millennium, the financial planning and asset management firm.

Terms were not announced. The transaction was completed Sept. 1.

"The team at Millennium strengthens our presence both in Virginia and in the education markets," said Joe DeNoyior, national president of Hub Retirement and Private Wealth (Hub RPW, said in a press release.

Hub RPW, a unit of Hub International, has approximately $105 billion in assets under management through several registered investment advisory affiliates.

Millennium has $525 million in AUM. Paul Hunt, Co-Founder and President of Millennium Advisory Services, Steve Anderson, Co-Founder and Vice-President, and the Millennium Advisory Services team will join Hub Retirement and Private Wealth in Hub Mid-Atlantic.

"Joe and the RPW team share our dedication to helping clients achieve financial freedom and save for a successful retirement," said Hunt.

Hub RPW works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk, and helps employees pursue their financial goals, said the release.

Global Retirement Par......................

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