National Financial Partners (NFP), a provider of benefits, insurance and wealth management services, has acquired California-based DA Financial Group.
With annualized revenue of approximately $5m, DA Financial has provided benefits, financial planning and insurance services for over 50 years.
Following this aqusition, DA Financial, now part of the NFP Corporate Client Group, will continue to operate as NFP DA Financial and John Hohman will manage its operations.
NFP said, Hohman will spearhead the strategic growth initiatives for the Corporate Client Group in the region, which supports NFP’s efforts to further diversify and increase recurring revenue.
NFP Corporate Client Group president Ed O’Malley said that this acquisition is consistent with the strategy of purchasing diversified businesses with strong management to advance goal of growing NFP’s scale and value proposition under larger regional platforms that will become the regional acquirers for NFP going forward.