With this deal, Fusion will be integrated into the NFP Advisor Services Group platform, acoording to NFP. The transaction is effective as of 2 July 2012.
Elmsford, NY-based Fusion represents a national network including more than 240 advisors. The firm was founded in 2003 by Stuart Silverman, who will remain with Fusion as Chairman Emeritus.
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NFP said that its revenue will not be impacted by this acquisition because revenue generated by Fusion advisors has historically been included in NFP Advisor Services Group’s revenue.
According to NFP, it is expected that NFP Advisor Services Group’s adjusted earnings before income taxes, depreciation and amortization margins will improve in the range of 75 to 100 basis points in the next year from the acquisition.
National Financial Partners chairman and CEO Jessica Bibliowicz said that this transaction enhances its recruiting and retention initiatives by empowering it to provide a robust offering to advisors, while also creating margin improvement opportunities for NFP.
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