Press Release

NFP Acquires AFS Advisors, LLC, Expanding its Retirement Business

Issued by NFP Corp.

Feb. 27, 2022

NEW YORK – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced it has acquired AFS Advisors LLC, an independent registered retirement and investment advisor located in Suwanee, Georgia. AFS provides retirement planning and advisory services to high net worth individuals and mid-sized to large corporate plan sponsors. Eric Loyd, president, and Keith Sproles, chief investment officer, will join NFP as vice presidents and report to Jessica Espinoza, managing director, Retirement.

“We’re very excited to welcome Eric, Keith and the AFS team to NFP,” said Nick Della Vedova, president, Retirement. “AFS is a strong cultural fit and their focus on helping clients with retirement planning to grow and sustain long-term wealth aligns well with our investment and client-centric philosophy.”

“Adding AFS helps grow NFP’s retirement presence in its Atlantic region with the addition of a comprehensive team of experienced investment professionals,” said Espinoza. “AFS also complements our insurance brokerage and consulting capabilities in the greater Atlanta area, which span corporate benefits, P&C and executive benefits.”

"We’re thrilled to join NFP and begin contributing to a global, people-first organization that is growing significantly in the retirement planning space,” said Loyd. “In addition, our ability to access NFP’s wide array of integrated solutions and expertise will bring additional value to our clients.”

The acquisition closed January 7, 2022, and M&A consulting firm Wise Rhino Group served as exclusive advisor to AFS on this transaction.

About NFP

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 6,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 7th largest US-based privately owned broker, 9th best place to work in insurance and 13th largest broker of U.S. business (Business Insurance); 10th largest commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).

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