The move adds expertise in alternate funding structures, executive benefit and advanced retirement plan design while growing Mid-Atlantic footprint
BOSTON, Oct. 30, 2018 (GLOBE NEWSWIRE) — Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced the acquisition of Arkin Youngentob Associates, a full-service employee and executive benefits firm headquartered in Bethesda, Maryland. Terms of the deal were not disclosed.
Founded in 1981, Arkin Youngentob has earned an industry reputation for its expertise in creative design and alternate funding structures for benefit plans. Its focus industries include real estate services, construction firms, technology companies and government contractors, as well as associations and non-profit organizations.
“The dysfunction and expense of today’s healthcare environment is creating real opportunity for expert firms who can show clients better ways to provide competitive benefits while controlling costs,” said John Greenbaum, Risk Strategies’ employee benefits practice leader. “Arkin Youngentob’s expertise in alternative funding structures and their willingness to disrupt the status quo makes them a perfect fit for our practice and the way we’re providing value to our clients.”
Recognized as an expert in self-funding employee benefit plans and as a national thought leader in health care cost reduction strategies, Arkin Youngentob’s approach to benefit program design has resulted in its clients seeing their plan costs remain flat or only nominally increasing while the rise in healthcare inflation has approached double digits.
“We’ve built our business by bringing focused expertise to bear on hard problems,” said Stuart Youngentob, managing principal, Arkin Youngentob. “Joining Risk Strategies ensures that our people can maintain and build on their specialization while our clients benefit from increased access to specialty resources and expertise.”
In addition to employee benefits, Arkin Youngentob is a national leader in the design of executive benefits, including multi-life disability and life, key person, company-owned life insurance (COLI), carve outs, business succession funding and corporate sponsored retirement plans.
The acquisition of Arkin Youngentob adds to one of the country’s largest, most experienced employee benefits specialty practices. In 2018 alone, Risk Strategies has acquired three employee benefits specialty firms: wholesale benefits services specialist Benefits Network Insurance Agency in Ohio, as well as full-service employee consulting and benefits brokerage firms Craford Benefit Consultants in Oregon and Costello Benefits Group in Massachusetts.
To learn more about Risk Strategies’ employee benefits practice, click here.
About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 50 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.
Media ContactSarah Sturba(401) 432-6503