NEW YORK – February 1, 2021 – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions, today announced the acquisition of Pension Solutions, Inc. (Pension Advisors). The transaction closed effective December 31, 2020.
Founded in 1999, Pension Advisors is a retirement consultant and wealth advisory firm based in the Cleveland, Ohio metro area. The firm brings sophisticated retirement capabilities with experience serving midsized employers, providing an opportunity for NFP to grow its retirement and wealth management presence and add a team of experienced retirement professionals. Firm principals David Krasnow and Beth Krasnow will join NFP’s Central region as senior vice presidents and report to Nick Della Vedova, president of NFP’s retirement division.
“We’re thrilled to welcome the Pension Advisors team to NFP,” said Della Vedova, “We remain focused on adding to our offerings and growing our capabilities, and David, Beth and their colleagues will support that growth. They’re a highly experienced group of professionals with a deep knowledge of the Cleveland market that will help us expand in the Central region.”
“NFP’s commitment to providing comprehensive offerings to meet client needs aligns with our values,” said Beth Krasnow. “We’re focused on providing tailored solutions to our clients, so joining NFP gives us access to more resources to better serve our clients.”
“We’re excited to join NFP and take an important step to accelerate our growth,” said David Krasnow. “NFP’s wide range of offerings, collaborative community and strong momentum will enhance the value we deliver to clients.”
M&A consulting firm Wise Rhino Group advised Pension Advisors in the transaction.
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,800 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).