LPL Financial, the nation’s largest independent broker-dealer, plans to acquire Fortigent, a Rockville, Md.-based provider of high-net-worth solutions and consulting services to RIAs, banks, and trust companies.
Delaware’s insurance commissioner approved the affiliation between Blue Cross Blue Shield of Delaware (BCBSD) and Highmark, imposing 49 conditions designed to protect consumers and BCBSD.
A Briarcliff Manor, N.Y.-based insurance company acquired a Wakefield, RI.-based employee benefit consulting and brokerage firm specializing in middle-market businesses.
The defined benefit actuarial consulting operations of PSA Insurance & Financial Services have been sold to a Cleveland-based professional services company.
It seems to be buying season, with perennial agency buyers Arthur J. Gallagher & Co. and Brown & Brown, as well as Richmond, Va.-based Markel getting in the game.
A Boston, Mass.-based insurance brokerage and risk management firm acquired its second independent insurance agency this year as part of its growth strategy in the Boston area.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.