NFP, which operates as part of Aon, has acquired HC Financial, an Ireland-based financial planning and corporate employee benefits advisory business.
The financial terms of the deal were not disclosed.
Following the acquisition, the HC Financial team will join NFP, with the former’s founder and director Gerry Cuddy transitioning to a consultant role under the leadership of NFP benefits and wealth managing director Colm Power.
Established in 1988, HC Financial is said to be one of the largest advisory firms in western Ireland. The company offers clients a range of investment, pension, and savings solutions.
According to NFP, HC Financial has built a strong reputation for its client-focused approach and commitment to ongoing investment in both its workforce and technology.
Cuddy said: “We’re excited to join NFP, a company that shares our core values of honesty, integrity, transparency and expertise.
“Today is a great day for our customers and employees and the future of NFP in Ireland as we expand the solutions and expertise available to our clients.”
Headquartered in the US, NFP is a global insurance brokerage and consulting firm. The company has over 7,700 employees across the UK, Ireland, the US, Puerto Rico, and Canada.
NFP provides a wide array of services, including commercial business insurance, employee benefits, people consultancy, health and safety, and individual financial planning.
The insurance brokerage and consulting firm was acquired by Aon in April this year. The deal represented an enterprise value of $13bn, including $7bn cash and assumed liabilities along with $6bn in equity in the form of 19 million Aon shares.
Power said: “Gerry and his team have built a fantastic, highly regarded advisory business with an extremely loyal client base, and we’re excited they will be part of our future growth.
“This significant acquisition will help us meet the growing demand for benefits and wealth planning expertise and expand NFP’s physical footprint outside the Dublin market.”
