men shaking hands with work team in background News from FBMC Benefits Management, MercerGlobal Advisors, Ascensus, CAPTRUST Financial Advisors and more.(Photo: Shutterstock)

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Here’s what happened in the employee benefits industry while youwere busy doing your job (or on vacation, trying to resist thethrall of your work email).  Mergers andacquisitions galore, promotions and new hires,partnerships. Who said summer was slow in the benefits biz?

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FBMC BenefitsManagement announced the promotion of President DavidFaulkenberry to President and Chief Executive Officer.Faulkenberry joined FBMC in 2011 and is responsible for the overallleadership, strategy and corporate direction of theorganization.

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MercerGlobal Advisors announced the acquisition of JacksonFinancial Management, augmenting the company’sexisting strong presence in Southern California. The acquisitionbrings Mercer’s total offices to 41, and increases Mercer’s AUM toover $16 billion. JFM founder Tracy O. Jackson andhis 13 team members will be joining Mercer Advisors.

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Ascensus announced that David Musto,currently its president, will add chief executive officerresponsibilities to his role effective January 1, 2020. BobGuillocheau, currently chairman and CEO of Ascensus, willcontinue to serve as chairman.

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CAPTRUSTFinancial Advisors announced the addition of McQueen,Ball & Associates and Cornerstone CapitalAdvisors to its team, expanding the firm’s presence inPennsylvania and Northeast Ohio. McQueen, Ball & Associates,founded by Jerry McQueen, manages $1.3 billion of client assets.Cornerstone Capital Advisors, led by Mario Giganti, oversees $770million in client assets.

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Custodia Financial (loaneraser.com) announced that it has appointedDrinker Biddle & Reath LLP Partner BradfordCampbell to its Strategic Advisory Council (SAC). Campbellwill provide legal, public policy, and regulatory guidance toCustodia on its mission to automatically improve retirementoutcomes by solving America’s $2.5T 401(k) loan defaultproblem.

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HubInternational Limited announced acquisitions in Juneand July that included the following:

  • The assets of Cosaint Insurance Partners, LLC,Pennsylvania
  • Crichton, Brandon, Jackson & Ward, Inc., d/b/a The CrichtonGroup (TCG), Tennessee
  • Berk Bilgen Insurance Ltd. (BBI), Alberta, Canada
  • BenefitLink Resource Group Edmonton Holdings Inc., Alberta,Canada
  • Foster & Parker Insurance Agency, Inc. (Foster & ParkerInsurance), California
  • The assets of CBIS, LLC, d/b/a In-Fi, Georgia
  • Porchlight Financial,  British Columbia, Canada

Assurance announced the hiring of ChrisPappas as vice president for the employee benefitspractice at Assurance’s Schaumburg, Ill headquarters.

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EZShield and IdentityForceannounced that their brands have aligned under a new company:Sontiq.  The new parent company name isderived from the Latin word “sonticus” meaning serious or critical.Sontiq is headquartered in Nottingham, Maryland.

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Kirt Walker was named Chief ExecutiveOfficer-elect of Nationwide. He will assume the top leadership role atthe Columbus, Ohio-based insurance and financial services provideron Oct. 1, 2019, succeeding CEO Steve Rasmussen, who earlier thisspring announced his decision to retire in the fall.

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HealthEquity announced a definitive agreement toacquire all of the issued and outstanding shares of common stock ofWageWorks. The acquisition is expected to giveHealthEquity access to more of the HSA market by expanding itsdirect distribution to employers and benefits advisors.

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CyberScoutannounced the appointment of Jennifer Leuer asChief Executive Officer. Leuer joins CyberScout from Experian whereshe served as president of Partner Solutions.

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AleraGroup announced its acquisition ofLandmark Benefits, located in Windham, NewHampshire. All Landmark employees will continue operating out ofthe firm’s existing locations under the name Landmark Benefits, anAlera Group Company, LLC.

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Prudential Retirement will continue its more thantwo-decade partnership with Wayne County inMichigan, as recordkeeper for its defined contribution retirementplans. Wayne County has agreed to a new five-year contract totaling$650 million in retirement assets, which includes $430 million in401(a), $220 million in 457(b), and $1.5 million in FICAAlternative plans for 8,000 participants. Kevin VandenHaute ofTitan Wealth Advisors is the plan’s investment consultant.

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C.J. Marwitz

C.J. Marwitz is a writer and editor.