Chicago, February 2, 2023 - Hub Financial Inc. (Hub Financial), one of Canada’s largest distributors of life insurance and investment solutions, announced today that it has acquired, through one of its affiliates, Achievex Financial Services Inc., W.C.S Financial Services Inc., W.C.S. Achievex Inc., Allen Wong & Associates Agency Limited, BridgeForce Financial Group Inc., Cinaber Financial Inc., Ontario East Insurance Agency Ltd., and Joseph B. Woodyatt Insurance Agencies Limited (BridgeForce). Terms of the transaction were not disclosed.
These BridgeForce firms are some of the largest Canadian owned and operated MGAs with a broad value proposition that puts the advisor at the centre of everything they do.
“We are thrilled to bring together the two largest independent MGAs in Canada,” said Andrew Fink, President of Hub Financial. “These BridgeForce firms are well-respected MGAs with strong leadership. Their commitment to independence and providing innovative solutions to their advisors make them a perfect fit at Hub Financial. We are excited to combine the best of both organizations, which will help us continue to grow and strengthen our capabilities in the market.”
In a joint statement, Mari-Jayne Woodyatt and Allen Wong, co-Presidents of BridgeForce Financial Group Inc. said “Protecting the independence of our BridgeForce advisors was foremost in the partners’ decision to join Hub Financial. We appreciate that Hub Financial recognizes and values the talent and experience that our staff brings to the Hub Financial team. Together, our organizations are the premier place for Canada’s independent financial advisors. We are very excited for what the future holds for our teams and our brokers”
Hub Financial Inc.’s footprint spans coast to coast with 15 offices across Canada and combines extensive sales training and coaching with industry-leading back-office support and exceptional technology to advisors. As an independent Managing General Agency (MGA), and subsidiary of Hub International, Hub Financial Inc. is uniquely positioned to offer financial advisors and insurance brokers access to industry leading development tools and education while maintaining their independence and self-governance.
About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 16,000 employees in offices located throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit Hub Media Centre.
Media: Jessica Wiltse
M&A: Clark Wormer