SANTA BARBARA, Calif., August 23, 2023 – World Insurance Associates, LLC (World) announced today that it has entered into an agreement to purchase Tomorrow’s Financial Services, Inc. (TFS Wealth Management/TFS), based in Lincroft, New Jersey, adding to the World financial services division led by Troy Hammond, CEO of Pensionmark, a World company (Pensionmark).
Founded in 1968, TFS offers a comprehensive platform for financial planners and wealth management advisors with industry-leading technology and a suite of advisor services with proprietary integrations designed for advisor-client collaboration. This acquisition brings an additional $5.5 billion of wealth assets under management to World’s financial services division and increases the number of financial advisors in the network to 307.
“Included in the acquisition are TFS Securities, Inc., TFS Insurance Agency, Inc. and TFS Mortgage Corporation, Inc. TFS Securities, Inc. offers a full range of securities products, investment advisory services, managed accounts and financial planning services. TFS Insurance Agency, Inc. offers a wide array of life, disability and long-term care insurance, in addition to annuities and hybrid insurance solutions. TFS Mortgage Corporation, Inc.’s licensed mortgage originators assist clients with residential and commercial purchase and refinance mortgage loans. Thomas P. Hyland, Sr., will continue in his leadership role as the President of TFS, and the TFS management and staff team will remain in place.
“TFS is centered on the belief that the interests of the client must always come first,” said Thomas Hyland, President of TFS. “Our goal is to provide our clients with comprehensive education and the guidance necessary to help them make sound financial decisions. Our partnership with World will expand our capabilities and solidify our future for many years to come while providing us significant resources and access to more clients that we can serve.”
“The acquisition of TFS underscores the commitment we have made to delivering best-in-class wealth solutions to the financial advisors we serve,” said Troy Hammond, CEO of Pensionmark. “TFS has a great culture, cutting-edge technology, great support staff and a high-touch approach, which aligns with our philosophies on how we serve our advisors and their clients. I am thrilled to have Thomas Hyland and his amazing team as part of the Pensionmark/World family.”
The acquisition is subject to applicable regulatory approval and is expected to close in Q4 2023.
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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.
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