Strategic Resources for Your Insurance Agency

NFP To Acquire Wealth Advisory Firm

SHARE

 

NFP To Acquire Bronfman Rothschild, Further Elevating Its Wealth Management Capabilities and Scale

Bronfman Rothschild will be integrated with NFP’s Sontag Advisory, creating a unified firm with $10 billion of assets under management

NEW YORK -- NFP Corp. announced today that it will acquire wealth advisory firm Bronfman E.L. Rothschild, LP (Bronfman Rothschild). Upon finalizing the acquisition, NFP will integrate Bronfman Rothschild with Sontag Advisory LLC (Sontag), a New York-based wealth manager, investment advisor, consultant, fiduciary, and subsidiary of NFP. The combined entity, to be led by the Sontag and Bronfman Rothschild management teams, will expand the resources and expertise available to clients of both firms. Subject to satisfying closing conditions [and receiving regulatory approval], the transaction is expected to close in the second quarter of 2019.

Through Sontag’s involvement, this acquisition brings together personnel and resources to create a unified firm managing approximately $10 billion in combined assets for a range of individual and institutional clients. Howard Sontag, chairman of Sontag, will become chairman of the combined entity; Mike LaMena, president and chief operating officer of Bronfman Rothschild, will become chief executive officer; and Eric Sontag will become president and chief operating officer. A new brand strategy for the combined firms and their shared values will launch later in 2019.

Bronfman Rothschild is an independent Registered Investment Advisor based in Rockville, Maryland, with offices throughout the Midwest and East Coast. In providing advisory services to high net worth individuals, families, institutions, and retirement plans, Bronfman Rothschild believes in a transparent, client-first approach to financial advice. Fueled by exceptional service, Bronfman Rothschild’s advisors build relationships based on trust and an unwavering commitment to understanding the uniqueness of each client journey. These principles are shared by Sontag and its philosophy of delivering client-centered, fee-based only services with no proprietary products.

“NFP continues to seize opportunities across all our businesses to strengthen capabilities and increase scale,” said Doug Hammond, chairman and CEO of NFP. “The vision to integrate two successful firms like Sontag and Bronfman Rothschild is now a reality that will drive tremendous growth in our wealth advisory business. Their common values and demonstrated client focus provide a strong foundation for even greater success together.”

“We are pleased to welcome Bronfman Rothschild to Sontag and the NFP family,” said Howard Sontag, chairman of Sontag Advisory. “Since our initial contact, it was clear their focus on comprehensive personalized and consultative wealth management services aligns remarkably well with our client-centric business.”

“We are thrilled for this new chapter and believe that as our two firms combine in the coming months, we will be well-positioned to continue expanding the meaningful suite of wealth management solutions we deliver to clients,” said Mike LaMena, Bronfman Rothschild president and COO. “We share similar cultures and believe this combination will positively impact both firms and, most importantly, our clients.”

Explore Agency Equity

Subscribe

Stay up to date with AgencyEquity

absolute absolute.gif absolute
absolute
absolute>
absolute
absolute