Marsh & McLennan Agency sets sights on Compass Financial
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Marsh & McLennan Agency, White Plains, N.Y., said Tuesday it had acquired Compass Financial Partners, a retirement consulting and investment advisory firm based in Greensboro, N.C.
Terms were not announced for the acquisition that closed Dec. 31.
The Compass acquisition adds more than $14 billion in managed retirement assets to Marsh & McLennan Agency's approximately $50 billion in retirement assets under advisement, Christine McDonough, a Marsh & McLennan Agency spokeswoman, wrote in an email.
Marsh & McLennan Agency also provides a variety of other products — such as commercial insurance, casualty insurance and employee benefits — to middle market businesses and individuals in North America. Marsh & McLennan Agency is a subsidiary of Marsh & McLennan Cos.