Canadian benefits consulting firm Riverview Insurance Solutions (RIS) is to merge with compatriot firm Sterling Capital Brokers (SCB).
It is the latest move for Sterling in its national expansion after completing the purchase of Halifax-based Luedey Consultants in February.
Launched in 2015 by Derrick Peterson, RIS oversees benefit consulting for more than 200 high growth clients in Alberta covering areas such as benefit plan reviews, plan management, retirement account planning, market analysis, member communication and corporate insurance planning.
Toronto-headquartered Sterling Capital Brokers (SCB) was founded in 2014 and specialises in servicing high-growth small-to-medium size businesses and offers clients benefit consulting and customised plan management technology services.
Commenting on the merger, RIS president Peterson said the merger came at a perfect time for the company as many of its clients were looking at growing their presence nationally and internationally.
“Sterling’s geographical breadth and technology combined with RIS’ consulting expertise and servicing protocols will drive tremendous value for RIS’ existing client base,” he said.
SCB co-founder Stefan Ionescu added: “The combination of the leading independent Ontario benefits adviser with the leading Alberta benefits brokerage is a great outcome for the two firms and their clients.
“With the addition of a presence in Western Canada, following our merger with Luedey Consultants Inc in Atlantic Canada, we are excited to establish a national presence and to continue to lead the way as a tech-enabled service provider to more than a thousand clients across Canada.
“The SCB team is excited to start working with Derrick and his outstanding team.”