NEW YORK, July 12, 2012 /PRNewswire/ -- National Financial Partners Corp. (NYSE: NFP), a leading provider of benefits, insurance and wealth management services, today announced that it has acquired Fusion Advisor Network ("Fusion"), a leading provider of practice management and business consulting to independent financial advisors. Fusion will be integrated into the NFP Advisor Services Group helping to further the integration of service and technology into a premier platform that delivers a custom experience for independent financial advisors. The transaction is effective as of July 2, 2012.
Founded in 2003 by Stuart Silverman, Fusion has a proven track record of helping independent financial advisors build profitable, resilient practices and has always leveraged NFP Advisor Services Group as its sole provider of broker-dealer and registered investment advisor (RIA) solutions. Fusion, located in Elmsford, NY, represents a national network including more than 240 highly productive advisors. Mr. Silverman will remain with Fusion as Chairman Emeritus.
Fusion advisors generated more than $60 million in revenue during 2011, the majority of which was recurring revenue. NFP's revenue will not be impacted by this acquisition because revenue generated by Fusion advisors has historically been included in NFP Advisor Services Group's revenue. In 2013, the first full year of operations post-transaction, it is expected that NFP Advisor Services Group's Adjusted EBITDA margins will improve in the range of 75 to 100 basis points from this acquisition.Commenting on today's announcement, Jessica M. Bibliowicz, chairman and chief executive officer said, "We are thrilled to have the unique opportunity to acquire the business that Stuart has built, with the support of NFP, over the past nine years. This transaction enhances our recruiting and retention initiatives by empowering us to provide a more robust offering to advisors, while also creating margin improvement opportunities for NFP." Also commenting, James L. Poer, President, NFP Advisor Services Group said, "The acquisition of Fusion further strengthens NFP Advisor Services Group's position as a leader in providing independent broker-dealer and RIA services. The integration of Fusion's customized expertise in business management and marketing services into our leading offering of service and technology culminates into the ideal destination for high-end advisors." Mr. Silverman commented, "NFP Advisor Services Group has continuously been a significant partner, instrumental in the success of Fusion Advisor Network. Coming together with NFP will provide advanced systems, enhanced business development and growth opportunities and will further elevate the value proposition for our accomplished independent financial advisors. I look forward to working with NFP to ensure that this integration is a complete success."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV