Hub International, an insurance brokerage and financial services firm based in Chicago, has acquired Legacy Planning Partners, a Pennsylvania-based hybrid advisory affiliated with Commonwealth Financial Network.
A Hub spokeswoman declined to provide Legacy’s AUM. According to a list compiled by The Philadelphia Business Journal in March 2024, the firm had $1.98 billion in client assets.
Legacy is comprised of 12 advisors, led by Managing Partner and CEO Jan Graybill, partners Matthew Kulp and Kevin Donohue, and Senior Partner Robert Wermuth. They have offices in Horsham, Allentown and West Chester, Pa.
The team will continue to use Commonwealth for brokerage and advisory business.
“The Legacy Planning Partners team will play a pivotal role in navigating the distinct challenges and opportunities HUB faces in private wealth, business owner advisory, and retirement services,” said Joe DeNoyior, president of HUB Retirement and Private Wealth (RPW), in a statement. “They bring deep bench strength across all lines of business.”
Hub has announced dozens of other acquisitions in recent years, the majority of which have added to its insurance business.
Legacy represents the latest addition to Hub Retirement and Private Wealth, a growing division of Hub International that offers institutional and retirement services to organizations and customized private wealth management services to individuals and families. Securities are offered through partner broker/dealers not affiliated with Hub and advisory services through both affiliated and unaffiliated registered investment advisors.
That division services about $172 billion in total assets.
Hub RPW’s affiliated RIAs include Global Retirement Partners, Millennium Advisory Services, TCG Advisors, Hub Investment Advisors, HUB International Investment Advisory Services and Sheridan Road Advisors—all wholly owned subsidiaries of Hub International.
