In a blockbuster announcement made February 2, Hub Financial Inc. announced that it has acquired BridgeForce. The acquired companies include Achievex Financial Services Inc., W.C.S Financial Services Inc., W.C.S. Achievex Inc., Allen Wong & Associates Agency Limited, BridgeForce Financial Group Inc., Cinaber Financial Inc., Ontario East Insurance Agency Ltd., and Joseph B. Woodyatt Insurance Agencies Limited.
Co-presidents of BridgeForce Financial Group Inc., Mari-Jayne Woodyatt and Allen Wong who oversaw the group of companies, said following the announcement that “protecting the independence of our BridgeForce advisors was foremost in the partners’ decision to join Hub Financial.”
They continue, saying the company is uniquely positioned to offer advisors and insurance brokers leading development tools and education but that Hub remains committed to maintaining advisor independence and self-governance.
“We are thrilled to bring together the two largest independent MGAs in Canada,” Andrew Fink, president of Hub Financial said in a statement. “These BridgeForce firms are well-respected MGAs with strong leadership.”
Plans for the future of BridgeForce’s management teams and terms of the acquisition were not disclosed.
This is a developing story. Updates to follow.