Connecticut consulting firm CBP buys Beacon Financial, takes majority stake in Beacon Retiree
Private benefits consulting firm CBP has purchased financial advisor Beacon Financial Group (BFG). CPB has also picked up a majority holding in Medicare and retiree benefits firm Beacon Retiree Benefits Group (BRBG). The financial terms of both deals were not disclosed, according to The Courant.
Under the other terms of the acquisition deal, the employees of BFG will continue to work from their office in Plantsville together with the workforce of BRBG, the report detailed.
CBP founder Gary Piantedosi said of the two deals: "As economic forces continue to shift and shape the market, we see increasing opportunity to help companies with products and services that resonate throughout their workforce. The addition of two world-class companies like BFG and BRBG bolsters our portfolio, gives us a little more clout and supports our mission of putting clients first. Our shared visions will make for a seamless transition."
Formed in 1996, CBP provides consulting services in the group benefits, risk management, business insurance, executive benefits, and wellness programs sectors. The company is currently based in Stamford, Connecticut, and has outlets in Fairfield, New York, New Jersey, and recently in Plantsville, The Courant reported.