NFP Acquires Cambridge Consulting Group, LLC, Scaling Benefits and Wealth Offerings
Acquisition creates a scaled platform and presence in Michigan
NEW YORK – November 7, 2018 – NFP, a leading insurance broker and consultant that provides employee benefits, property and casualty (P&C), retirement and individual private client solutions, today announced that it has acquired Cambridge Consulting Group, LLC (Cambridge). The transaction closed on Oct. 22, 2018.
Based in Royal Oak, Michigan, Cambridge is a full-service benefits brokerage and wealth strategies firm that provides customized solutions to a range of corporate and individual clients. Former principals of the firm, Dan Cornwell, Cam Kennedy and Al Papa will join NFP as managing directors, reporting to Mike Schneider, managing director of the Central region.
"We're thrilled to welcome Dan, Cam, Al and the entire Cambridge team to the NFP family," said Doug Hammond, NFP chairman and CEO. "For over 30 years, Cambridge has been dedicated to building trusted client relationships. Their pride in caring for clients' needs and exceeding clients' expectations matches our own. We are eager to begin working together on behalf of all our clients and prospects."
"This acquisition scales our presence in Michigan, expanding our benefits and wealth platform to a previously underrepresented market for NFP," said Schneider. "We are also excited about the opportunities to offer a broader suite of products to existing corporate and high net worth clients including P&C. We look forward to leveraging Cambridge's established management team and strong producer base to drive organic growth in the larger Central region."
"NFP is the perfect fit for maintaining our team. We will continue practicing our core values with our current clients while pursuing new avenues for growth," said Cornwell. "We take pride in making a difference in people's lives. Tapping into NFP's national network of offerings will allow us to exceed expectations and develop new relationships in the region."
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 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 named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
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