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"The initial feedback has been overwhelmingly supportive as clients recognize that the combination will build a wealth management firm with an even deeper pool of talent, technology, and solutions."
ROCKVILLE, MD, May 02, 2019 /24-7PressRelease/ -- Bronfman Rothschild, an independent investment advisor based in Rockville, Maryland, today announced the closing of its sale to Sontag Advisory (a subsidiary of NFP Corp.). Bronfman Rothschild will integrate with Sontag Advisory and the combined firms will manage $11.93 billion as of March 31, 2019. Of those assets under management, $2.4 billion will be managed by Bronfman Rothschild Plan Advisors, who will be bolstered by NFP's comprehensive retirement and corporate benefits practice.
"We are excited about the integration of the two firms," said Mike LaMena, president and COO of Bronfman Rothschild. LaMena, who will become CEO of the combined firms, added, "The initial feedback has been overwhelmingly supportive as clients recognize that the combination will enable us to build a wealth management firm with an even deeper pool of talent, technology and solutions that help us assist clients in meeting their goals."
NFP first announced plans to acquire Bronfman Rothschild on March 26, 2019, also sharing that a new brand strategy for the combined firms and their shared values would launch later in 2019. As the firms integrate, Mike LaMena will assume the role of chief executive officer, Eric Sontag will become president and chief operating officer and Howard Sontag will become chairman of the combined entity.
NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,100 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest US-based privately owned broker, 6th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best's Review).
Visit NFP.com to discover how NFP empowers clients to meet their goals.
About Sontag Advisory, LLC
Sontag Advisory, an NFP Corp. subsidiary, is a New York City based, independent registered investment advisory firm that serves clients in more than 30 states. Founded in 1995, Sontag Advisory acts as a wealth manager, investment advisor, consultant, and fiduciary. For more information on Sontag Advisory, please visit sontagadvisory.com.
Bronfman Rothschild grows and preserves wealth through thoughtful and disciplined strategies that focus on what's most important to each client. With ten offices throughout the Midwest and East Coast, we offer comprehensive wealth management and planning to individuals and families as well as retirement advisory and consulting services to retirement plan sponsors. 95+ employees adhere to a high standard of fiduciary care as we seek to form a true and objective partnership with each client we serve.
Bronfman E.L. Rothschild, LP is a registered investment advisor (dba Bronfman Rothschild) and NFP Corp. subsidiary. Securities, when offered, are offered through an affiliate, Bronfman E.L. Rothschild Capital, LLC (dba BELR Capital, LLC), member FINRA/SIPC.
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