Choice Financial Group Acquires Employee Benefits of Virginia

Choice Financial Group Acquires Ashley & Associates Insurance Agency

November 30, 2021

Insurance

Choice Financial Group, a portfolio company of Northlane Capital Partners, acquired Norfolk, Virginia-based Ashley & Associates Insurance Agency. The acquisition adds a partner agency to Choice's portfolio to expand its presence in southeastern Virginia and provide Ashley & Associates with Choice's resources, carrier relationships, and technology; Chris Miles has been named President of Ashley & Associates.

Northlane Capital Partners Invests in Choice Financial Group

November 2, 2021

Insurance

Northlane Capital Partners (NCP) has made an investment in Choice Financial Group, a Virginia Beach–based insurance agency, partnering with founder and president Richard Braun. The capital will support Choice’s acquisition-driven growth strategy and add operating resources (including the addition of industry executive Bob Hilb); Madison Capital Funding provided debt financing for the transaction.

OneDigital Acquires Your Benefits Partner, LLC

March 24, 2021

Insurance

OneDigital has acquired Your Benefits Partner, LLC, a Glen Allen/Richmond, Virginia-based employee benefits and HR consulting firm, to expand its capabilities and scale across the Mid-Atlantic region. The Your Benefits Partner team will integrate with OneDigital’s Richmond office and founder Debbie Stocks will join OneDigital as Principal, Senior Client Executive, giving clients access to OneDigital’s broader benefits, HR consulting, technology and retirement/wealth solutions.

Choice Financial Group Acquires Mountaineer Insurance Services

December 1, 2022

Insurance

Choice Financial Group, backed by Northlane Capital Partners, has acquired Mountaineer Insurance Services, a five-branch insurance agency based in Beverly, West Virginia. The Mountaineer leadership team will remain in place as Choice expands its geographic footprint into West Virginia; the transaction closed November 1, 2022 and represents Choice's 11th acquisition since partnering with Northlane.

Choice Financial Group Acquires R. Stephens Financial, Inc.

August 23, 2022

Insurance

Choice Financial Group, a PE-backed insurance agency, has acquired New Jersey-based employee benefits consultancy R. Stephens Financial, Inc. The deal is an add-on to Choice's platform as it expands its footprint in New Jersey and strengthens its employee benefits and insurance brokerage capabilities; founder Richard Yuran will continue to lead the business.

Voya Financial Acquires Benefit Strategies, LLC

May 10, 2021

Financial Services

Voya Financial, Inc. has acquired Benefit Strategies, LLC, a third-party administrator of HSAs, FSAs, HRAs, COBRA and related workplace benefits. The acquisition (closed July 2021) adds roughly 150 employees, ~3,400 employer clients and nearly 370,000 participant accounts to Voya, strengthening its workplace health savings and spending account capabilities.