Arthur J Gallagher & Co, a Illinois-based insurance brokerage and risk management services firm, has acquired Washington DC-based investment advisory firm Independent Fiduciary Services.
Independent Fiduciary Services (IFS) provides ongoing and project-based investment consulting as well as fiduciary decision-making services to the firm’s pension, welfare and other institutional investor clients throughout the US.
The IFS’ clients span ERISA funds, including both Taft-Hartley and corporate plans, as well as public pension plans and other institutional investors.
The IFC’s employees Francis Lilly, Samuel Halpern and their staff will continue to operate from their current Washington DC and Newark, New Jersey locations under the direction of Michael J DiCenso, president of GBS Investment Consulting, a division of Arthur J Gallagher & Co.’s employee benefit consulting and insurance brokerage operations.
The terms of the transaction were not disclosed.