Insurance brokerage Hub International has acquired the assets of Washington Financial Group (WFG) for an undisclosed sum.

WFG, based in McLean, Virginia, provides employer plan and wealth management services. The company is led by president Jeff Hamblen, and CEO Joe DeNoyior who will move to Hub Mid-Atlantic as part of the deal.

Hub Retirement and Private Wealth national president David Reich said: “Our vast network of clients is asking for help, not only with managing the plans but also helping their employees reach better outcomes.

“WFG has demonstrated leadership and a commitment to excellence in driving better solutions not just for employers, but for hard-working employees as well. Joe, Jeff and their team are a great fit for Hub. They truly are leaders in the space.”

DeNoyior stated: “We are excited to be part of the Hub team given their expertise, resources and technology to help our clients pursue their financial objectives, coupled with a commitment to provide an unsurpassed level of proactive service to each of our clients.

“Joining Hub enhances our service model while we continue to utilise proven best practices for retirement plan consulting and wealth management.”

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DeNoyior will work with Reich and Hub president and CEO Charles Brophy.

In March this year, Hub International purchased Maryland-based independent insurance agency Insurance Exchange.

Additionally this January, it also acquired the assets of local institutional retirement consulting and private wealth firm Sheridan Road Financial and some of its affiliates.