NEW YORK – October 19, 2016 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, has acquired SST Benefits, Inc. (SST). The transaction closed on Sept. 6, 2016.
Based in El Dorado Hills, CA, SST is an independent, fee-based registered investment advisory and retirement plan consulting firm that specializes in defined contribution plans for public sector employers. The firm’s principal, William (Bill) Tugaw, will assume the role of Director of Retirement Plan Consulting in the retirement division at NFP, reporting to Nick Della Vedova, President of the Retirement division at NFP.
"We’re always on the lookout for top talent and strategic opportunities to arm our sales team with the best-in-breed offerings," Della Vedova said. "The acquisition of SST strengthens our existing defined contribution services for public sector clients and deepens our industry expertise with the addition of Bill Tugaw and his team. We’re pleased to welcome SST to the NFP family."
Also commenting on today’s announcement, Tugaw said, "NFP has a strong reputation for providing comprehensive services to retirement clients. I’m excited to share our expertise in the public sector with the larger NFP team and look forward to expanding our business together."
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client’s goals. We’re a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates.
NFP has more than 3,400 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients’ needs. We’ve become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was ranked the 2nd fastest-growing US large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked us as the 5th largest global benefits broker by revenue, the 4th largest US-based privately owned broker and the 11th largest broker of US business. PlanSponsor ranked us the 5th largest executive benefits provider of nonqualified deferred compensation by number of plans, and we were ranked 11th in personal lines P&C revenue by Insurance Journal.
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