SANTA BARBARA, Calif., August 29, 2023 – World Insurance Associates, LLC (World) announced today that it has entered into an agreement to purchase Financial Solutions, an independent registered investment advisor based in Waukesha, Wisconsin, adding to the World financial services division led by Troy Hammond, CEO of Pensionmark, a World company (Pensionmark).
Established in 1993, Financial Solutions specializes in financial planning, retirement planning, tax and estate planning, investment management and risk management services for individual investors and corporations. The firm has assets under management in excess of $950 million and has two additional offices in New Berlin, Wisconsin, and North Barrington, Illinois. Financial Solutions’ leadership team includes managing partner Tim McGrath and partners William Kenton, Kenneth Stuckert and Horace Seely-Brown.
“This is a very strategic acquisition for us since we are expanding Pensionmark/World’s presence in the Midwest and we have a strategic focus nationally to expand within the wealth management space in general,” said Troy Hammond, CEO of Pensionmark. “Financial Solutions has a complementary business model in that it bridges wealth and retirement services much like we do. By joining forces, we can strengthen our resources and provide our clients with a highly competitive offering.”
“Our approach to serving our clients is all-encompassing – we help guide them through all stages of their financial lives,” said Tim McGrath, managing partner of Financial Solutions. “Joining a strong growth partner like Pensionmark enables us to further elevate our client experience while simultaneously allowing us to maintain our values, vision and existing team to continue delivering the exceptional service our clients expect.”
Park Sutton Advisors, a Waller Helms Company, served as financial advisor to Financial Solutions LLC.
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About Pensionmark Financial Group
The Pensionmark network represents hundreds of advisors and staff across the U.S. with thousands of retirement plan and wealth management clients. The Pensionmark network of retirement specialists includes defined contribution, defined benefit, terminal funding, not-for-profit, wealth management, and executive/deferred compensation specialists. For more information, please visit www.pensionmark.com.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement planning and financial planning services and human capital management solutions. To date, World has completed more than 195 acquisitions and serves its clients from more than 260 offices across the United States. World is ranked #28 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.
About Financial Solutions
Securities offered through Osaic Wealth, Inc. member FINRA/SIPC. Investment advisory services offered through Financial Solutions, LLC, a registered investment advisor. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
Media Contact
Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com
Mergers & Acquisitions Contact
Neel Ray, Senior Vice President, Business Development, Financial Services
Pensionmark/World Insurance Associates LLC
917-414-2928
neel.ray@pensionmark.com