Hub International Acquires the Assets of Utah-based Brokerage
- March 05, 2018
HUB INTERNATIONAL ACQUIRES THE ASSETS OF UTAH-BASED SPECTRA MANAGEMENT, LLC
Chicago, IL -- Hub International Limited (Hub), a leading global insurance brokerage, announced that it has acquired the assets of Spectra Management, LLC (Spectra). Terms of the acquisition were not disclosed.
Headquartered in Sandy, Utah, with an office in St. George, Spectra specializes in helping companies create an engaging employee benefits package that achieves the delicate balance between financial goals and company culture. Its specialists develop simple, secure solutions tailor-made to strengthen employee security and well-being. Through its retirement division, Spectra provides 401(k) retirement services, fiduciary risk management services, investment due diligence, plan and compliance review, provider services and benchmarking, and wealth management.
“It’s always been our priority to find the best technology and resources to serve our clients,” said Brent Bennett, President and CEO of Spectra. “Our decision to partner with Hub is simply a natural progression of our client-centric business model.”
Under the leadership of Bennett, Utah Business magazine named Spectra as one of the “top 10 employee group benefits firms” and officially recognized the company as one of the best companies to work for in Utah. Additionally, Spectra has appeared on the Inc.5000 list of America’s fastest-growing companies four years in a row.
Spectra will join Hub International Insurance Services Inc. and Bennett will continue to lead Spectra operations.
“It’s no surprise that Spectra has earned a great reputation in the employee benefits and retirement industry. Brent and his team of industry experts are client-centric, actively involved and solution-oriented.” said Mike Barone, Hub’s National President of Employee Benefits. “We’re excited to add them to Hub as they will strengthen both of our benefits and retirement operations.”
“Our goal has always been to be a strategic benefits partner for culture-driven growth companies,” said Bennett. “Joining Hub allows us to leverage the resources of one of the largest insurance brokers while maintaining our highly personal approach to administering benefits.”