NFP Acquires Diversified Brokerage Services, Inc.
NFP Acquires Diversified Brokerage Services, Inc., Expanding its Life Insurance Distribution Capabilities
Acquisition adds a well-established brokerage general agency (BGA) specializing in supporting life insurance sales for financial advisors across the country
NEW YORK – April 21, 2023 – NFP, a leading property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, today announced it has acquired Diversified Brokerage Services, Inc. (DBS). Acquiring DBS expands NFP’s life insurance business with capabilities that support larger financial institutions, including broker-dealers, wirehouses and RIAs. DBS principals George “Chip” Van Dusen IV, president and CEO, and Tori Van Dusen-Roos, COO, will join NFP and report to Mike James, executive vice president, chief sales officer. The acquisition closed on April 10.
“I’m very excited to welcome Chip, Tori and their team to NFP,” said James. “They are industry leaders in supporting financial advisors through enterprise relationships with large financial institutions and will be valuable partners for our advisors and producers. With DBS onboard, we will provide an enhanced, differentiated offering across our existing retail and wholesale life insurance businesses. I look forward to DBS’s contributions to our growth, culture, and support of current and future clients.”
Minneapolis-based DBS is one of the largest life insurance BGAs in the United States. They support financial advisors across the country through enterprise relationships with large financial institutions, as well as individual relationships under a wholesale model. DBS offers various value-added services to these advisors, including education, point-of-sale support and placement.
“We’re thrilled to join NFP, an organization with significant scale in the life insurance space that shares our focus on growth, people and community,” said Chip Van Dusen and Tori Van Dusen-Roos in a joint statement. “We have very ambitious goals for growth, and with their commitment and resources, NFP is the ideal partner to help us achieve it. It’s exciting to see so many opportunities to collaborate and deliver additional value and expertise to our current distribution partners as well as those with whom we build relationships.”
NFP is a leading property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor that provides solutions enabling client success through the expertise of over 7,000 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 9th best place to work for large employers in insurance, 7th largest privately owned broker, 5th largest benefits broker by global revenue and 13th largest broker of US business (all rankings according to Business Insurance).