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December 21, 2021

AssuredPartners acquires Medallion Wealth Management

By Verdict Staff

US-based insurer AssuredPartners has acquired Pittsburgh-based investment firm Medallion Wealth Management for an undisclosed amount.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Medallion manages investment portfolios for individuals, not-for-profits, pension and profit sharing plans, and employer-sponsored 401(k) and 403(b) plans.

The firm currently reports $3m in annualised revenues.

As per the agreement, Medallion president Arthur Hazen will continue to lead its team of 12 employees.

Hazen said: “At Medallion Wealth Management, our mission is to achieve, enhance and preserve the wealth of our clients. We are honored to be the newest addition to AssuredPartners, a company whose focus is also on building rock solid relationships. This partnership will not only enhance but complement our existing capabilities.”

The latest deal marks AssuredPartners’ 43rd acquisition this year. The Florida-headquartered insurer has been looking to further expand its footprint.

It currently has over 8,000 employees across its offices in London, Belgium, Scotland and North America.

Commenting on the deal, AssuredPartners regional president Todd Stocksdale said: “We are pleased to have expanded our operations in Pennsylvania with the addition of Medallion, whose vision and values align strongly with what AssuredPartners stands for. We are thrilled to have this team and clientele join us.”

AssuredPartners president Randy Larsen added: “We are excited to have this talented team join AssuredPartners, helping us continue to deliver the highest level of service in Pennsylvania. We want to welcome the team and clients to AssuredPartners.”

Recently, British insurer M&G signed a deal to buy financial advice firm Sandringham Financial Partners as part of its strategy to expand its wealth management business in the UK.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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