Hub International Limited has announced that it has acquired the assets of Veripax Wealth Management, Inc. (VWM), an independent financial planning and investment advisory firm based in Folsom, California. Terms of the transaction were not disclosed.
VWM offers fee-based financial planning services, specializing in risk-focused wealth management, retirement income planning, and strategic financial planning.
Following the acquisition, Jerry Verseput, Brian Wells, and the rest of the VWM team will join Central & Northern California (Hub CNC).
Darren Caesar (pictured above), CEO of Hub CNC, said the addition of the VWM team supports Hub’s efforts to expand its retirement and wealth management services in the region.
"It reflects our continued commitment to delivering comprehensive, long-term financial solutions in the region,” Caesar said.
Joe DeNoyior, president of Hub Retirement and Private Wealth (RPW), stated that the VWM team’s planning expertise and client-focused approach complement Hub’s service model.
"The VWM team enhances our ability to deliver integrated retirement and wealth strategies that support individuals and families, helping them work toward their financial goals with confidence,” DeNoyior said.
Hub’s RPW division focuses on serving both retirement plan sponsors and individual wealth management clients. Hub’s registered investment advisory affiliates within RPW manage approximately $178 billion in client assets.
The division has been actively expanding through strategic acquisitions. In January 2024, Hub acquired the assets of Bob Gottschling’s book of business, enhancing its capabilities in advanced personal retirement, investment, and estate planning services.
The VWM acquisition follows a period of increased investment activity for Hub International. In May, the firm secured a $1.6 billion minority equity investment led by T. Rowe Price Investment Management, Alpha Wave Global, and Temasek.
The investment brought Hub’s enterprise valuation to $29 billion, the highest valuation recorded for a private insurance brokerage.
The Veripax acquisition is also part of a wider acquisition strategy pursued by Hub in 2025. By March of this year, the company had completed seven acquisitions, including Yavitz Insurance, Mayfield Insurance, and John L. Kiley Agency Inc.
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