NEW YORK - January 6, 2020 - NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced the acquisition of Elective Benefit Services, Inc. (Elective Benefit) in a transaction that closed on June 12, 2019.
Elective Benefit, based in Waterloo, Ontario, specializes in group benefits and retirement planning. The firm has more than two decades of experience providing consultation, financial planning and administration support to their clients. Their expertise in group benefits and group retirement planning aligns well with NFP's focus on expanding and diversifying its benefits business in Canada. Harold McAdam, president of Elective Benefit, has joined NFP in Canada as director, reporting to Dean Howard, managing director, benefits and retirement for NFP in Canada.
"Harold brings nearly 30 years of experience in the retirement and benefits space, managing specialized group plans for a range of organizations. We are thrilled to welcome Harold and his team of well-respected, high-performing producers to NFP," said Greg Padovani, president of NFP in Canada.
"NFP continues to invest in benefits offerings and demonstrate a commitment to delivering best-in-class solutions and services. This aligns perfectly with the values and philosophy we have put into practice for decades," said McAdam. "We're excited to be part of NFP, contribute to NFP's tremendous growth in Canada, and access resources that allow us to elevate the exceptional group retirement planning and consultative services our clients value."