HUB International Limited, a Chicago-based global insurance brokerage and financial services firm, announced that it has acquired CSi Advisory Services, an Indianapolis-based retirement plan consulting firm with $1.1 billion in assets under management.
Specializing in corporate retirement advisory, wealth management and third-party administration, CSi was founded in 1971 as Compensation Systems, Inc. with the goal of helping people to retire successfully.
CSi Managing Partner Kristi Baker and Vice President of Retirement Plan Consulting Kelli Davis will join Hub Retirement and Private Wealth at its Midwest location.
“Kristi, Kelli and the CSi team bring a shared vision of helping clients fulfill their dream of a successful retirement,” Hub Retirement and Private Wealth President Joe DeNoyior said in a statement. “We are proud to welcome them to Hub.”
CSi was represented in the transaction by the consulting firm Wise Rhino Group, a leading M&A advisory practice serving retirement, wealth and third-party administrator advisory firms. Terms of the transaction were not disclosed.
“When we started consulting work with the firm in 2019, we couldn’t help but be impressed with what was already a successful, multi-generational business spanning nearly 50 years of service,” said Wise Rhino Group Managing Partner Peter Campagna. “The past few years, though, they built their business into a powerhouse through integrated TPA, retirement plan services and wealth management businesses. Hub has found a gem with Kristi, Kelli and their talented team, who are poised to grow exponentially in the near future.”
Hub Retirement and Private Wealth offers institutional and retirement services to for-profit and not-for-profit organizations and customized private wealth management services to individuals and families.