SKANEATELES — New York City–based NFP has acquired certain assets of the Skaneateles–based employee-benefits brokerage consultancy EBA Services, LLC, which did business as AnchorGroup, in a move that gives the company a stronger foothold in upstate New York. NFP, an Aon company, provides benefits, property and casualty insurance, wealth management, and retirement-plan advisory services. The […]
SKANEATELES — New York City–based NFP has acquired certain assets of the Skaneateles–based employee-benefits brokerage consultancy EBA Services, LLC, which did business as AnchorGroup, in a move that gives the company a stronger foothold in upstate New York.
NFP, an Aon company, provides benefits, property and casualty insurance, wealth management, and retirement-plan advisory services. The company has 25 locations in New York state, including Endwell, Albany, Rochester, Cooperstown, and Watertown.
AnchorGroup’s Kiehl Hutchings will join NFP as VP of benefits, and the firm’s employees and clients will also make the move to NFP. Neither company disclosed financial terms of the deal.
“We’ve been familiar with them for a long time, and we’re familiar with the strength of the work they do,” NFP’s Northeast Region President Katherine Henry tells CNYBJ. AnchorGroup, founded in 1971, was a member of NFP’s Benefits Partners group, a national benefits-producer group.
“We are thrilled to join NFP and build on our already strong relationships within the organization,” Hutchings said in a statement. “My family has a long history of serving businesses across New York state, and NFP’s diverse portfolio of expertise, capabilities, and solutions will allow us to better support the needs of small and midsize businesses here. As a member of Benefits Partners, I’ve seen NFP’s values and impact firsthand, and I’m looking forward to the next phase of our NFP connection.”
Acquiring AnchorGroup’s employees and clients expands NFP’s growing presence in the region, Henry says. The company already has a presence in the Rochester, Buffalo, Binghamton, and Albany areas.
“Syracuse was new for us,” she says, adding that the Skaneateles presence helps NFP blanket the entire region. “We’re always looking to expand our reach and capabilities.”
The acquisition ties in with NFP’s desire to grow both through acquisition and organically. AnchorGroup’s clients will now have access to all of NFP’s offerings, which also include retirement and business-insurance products, Henry says.
NFP, which employs more than 7,700 people across the United States, Canada, and the United Kingdom, works as a partner to its clients, she says. Building a relationship, based on trust, allows employees to serve as trusted advisors to their clients.
That’s important, she notes, as benefits are usually an employers next biggest cost after compensation. NFP works with clients and leverages all programs and options it can to ensure clients can offer the best benefits package to employees while also remaining fiscally responsible.
“We’re excited to expand our capabilities in Central New York and continue to build scale,” Henry says.
