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HubInternational.jpg By Raysonho @ Open Grid Scheduler / Grid Engine

HUB International Buys $1B Bridgecreek Investment Management

Boutique portfolio management firm in Oklahoma further expands the insurance giant’s wealth advisory arm.

Hub International Ltd., a publicly traded and growth-oriented insurance brokerage and financial services firm based in Chicago, announced today that it had acquired the assets of Bridgecreek Investment Management in Tulsa, Okla.

An independent, boutique portfolio management firm serving high-net-worth individuals, families, corporations and family foundations in Oklahoma, Texas, Kansas and Missouri, Bridgecreek currently manages more than $1 billion in client assets.

"Expanding our wealth advisory services, particularly for private clients, in our region is important as we continue to expand and provide high-value services to clients," Travis Biggert, president of Hub’s Oklahoma and Arkansas region, said in a statement.

Bridgecreek co-founders Chuck Fuller, CEO, and Brian Carney, CIO, and their team will join Hub Mid-America. Terms of the transaction were not disclosed.

"Hub's reputation and experience have made this an attractive opportunity as we look to continue to grow," said Fuller. "We are excited about our future together, and we're confident that the added resources and scale will create new opportunities for us and provide great value for our clients."

Hub has announced 45 other acquisitions in 2022, the majority of which have added to its insurance business. Bridgecreek represents the 12th addition to Hub Retirement and Private Wealth, a growing division of Hub International that offers institutional and retirement services to organizations and customized private wealth management services to individuals and families. Securities are offered through partner broker/dealers not affiliated with Hub and advisory services through both affiliated and unaffiliated registered investment advisors

Chuck, Brian and the Bridgecreek team bring a focus on wealth management that is a critical component as we grow and focus on providing enhanced capabilities around portfolio management," said Hub RPW President Joe DeNoyior.

Hub RPW’s affiliated RIAs include Global Retirement Partners, Millennium Advisory Services, TCG Advisors, Hub Investment Advisors, HUB International Investment Advisory Services and Sheridan Road Advisors—all wholly owned subsidiaries of Hub International.

TAGS: Industry
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