Alera Group announced new expansion this week, including acquisitions on the East Coast and new jobs in the Western United States.
The national insurance and financial services company is expanding its presence in Massachusetts with the acquisitions of Pittsfield, Massachusetts-based Berkshire Fairfield Insurance Agency and Scarafoni Financial Group. This addition expands Alera Group’s efforts in employee benefits, property and casualty insurance and retirement plan services.
The newly combined office is led by senior partners Brian Tremblay and Matthew Scarafoni and includes 18 team members.
“Berkshire Fairfield and ST Insurance are focused on understanding our customers’ unique complexities and delivering the right products and solutions to meet their needs,” said Arella Group Northeast Managing Director. Director Gary Piantedosi said. “This approach aligns well with Alera Group’s collaborative philosophy, and we are excited to grow with their team and clients.”
In addition to expanding Alera Group’s operations in the EB and P&C areas, the acquisition also adds approximately $200 million in retirement plan assets under the advice of Alera Group’s Retirement Plan Services division.
The Berkshire Fairfield and Scarafoni teams will continue to serve clients in their existing roles. Terms of the transaction were not announced.
Arera Group also announced the hiring of California-based industry veteran Joshua Sorensen to its national team of retirement plan services professionals.
Mr. Sorensen previously served as a senior retirement plan division manager at Edelman Financial Engines. Alera Group will continue to serve retirement plan clients by providing fiduciary investment advice, plan design and governance consulting, education and financial health consulting.
“Josh is an outstanding retirement planning advisor whose accomplishments are reflected in both the scale of his work with clients and his client service ethic,” said Christian Mango, executive vice president and national practice leader for Retirement Planning Services. said. “We continue to expand through both acquisitions and attracting top talent as we execute on our strategy to serve our customers within our planned scale. Adding Josh is another milestone. , we are honored to have him on board.”
Mr. Sorensen, who will be based in Clovis, California, will work in conjunction with Benefit Commerce Group, an Alera Group company in Scottsdale, Arizona.
See also:
Alera acquires retirement plan practice Fraser Group
Company Roundup: Alera Group Acquires Advanced Capital Group, NewRetirement Takes Bold
Corporate Overview: Alera Group, Vestwell Partnership, Appoints Equitable Leadership
Amanda Umpierrez is the editor-in-chief of 401(k) Specialist magazine. She is a financial services reporter with over 6 years of experience and has a passion for telling stories and reporting news. Amanda earned a degree in Journalism, Government, and Politics from St. John’s University. She is originally from Queens, New York, but currently lives in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama shows.
