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NFP acquires Baltimore-area benefits broker

Posted: February 11, 2018

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NFP has acquired Heritage Benefits, a Hunt Valley, Md.-based benefits broker that primarily serves corporate clients in the Mid-Atlantic.

Terms of the transaction were not disclosed.

NFP is the New York-based broker that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions.

Heritage Benefits serves various industries, including manufacturing, defense contractors, municipalities, universities and schools. Principal of the firm Bill Spotts will join as a senior vice president, reporting to Ethan Foxman, the regional managing director for NFP’s Mid-Atlantic region.

news.12“We’re happy to welcome Bill and his seasoned team to our NFP family,” said Foxman. “The acquisition expands our footprint into Baltimore, solidifies our benefits offerings and reinforces our ongoing commitment to invest and grow in the region.”

“We’re excited to join NFP and drive robust growth for the company’s Mid-Atlantic region,” said Spotts. “The deal connects us with NFP’s other offices in the region, enabling us to continue to provide customized benefits services to our existing clients and prospects. In addition, it’s clear that NFP cares about communities as well as the specific clients it serves. Heritage Benefits has long been committed to improving the lives of Baltimore youth and empowering the young people in our city. Aligning with NFP is a great way to match our vision and goal to continue to help our clients as well as our local community.”

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