ATLANTA--(BUSINESS WIRE)--OneDigital, the nation’s leading health, retirement/wealth, and HR advisory firm focused on empowering business growth for employers of all sizes, announced it has acquired HM Employee Benefits and Risk Management (HM), located in St. Louis, Missouri.
This acquisition is the first to integrate property and casualty (P&C) into OneDigital’s suite of health, retirement and wealth, and human resources consulting, a significant milestone in the company’s growth. The partnership represents a turning point for OneDigital as it enters the traditional multiline agency arena with a very untraditional economic value equation.
“OneDigital’s expansion into the P&C side of the business with the acquisition of HM will allow us to provide a holistic suite of employee-centric solutions for our customers and marks the starting point for the next iteration of OneDigital,” said Mike Sullivan, Co-Founder & Chief Growth Officer at OneDigital. “OneDigital has been a rarity in the business as one of the few employee benefits-only firms, but as we decided to expand our business, we needed a partner who was aligned in our people-first culture and was open to building the future of P&C together. Mike Shanahan and the team at HM had the leadership, depth and P&C acumen, along with the culture to fit into that ecosystem.”
“Through OneDigital’s two decades of operations, we have focused on the benefits business to provide employees with the most comprehensive solutions,” said Adam Bruckman, President and Chief Executive Officer at OneDigital. “By entering the property & casualty market with HM, we are strategically expanding our services to meet the needs of our customers and their employees. Putting people first is a crucial element of the OneDigital culture, and this expansion will allow us to further our relationships as we push into this new market.”
Founded in 1991 and a top 100 broker on the 2020 Hales Report, HM provides employee benefits and risk management services to clients in all 50 states and 60-plus countries. With the acquisition, 130 employees have joined the OneDigital team.
“I’m thrilled HM and our employees have joined the OneDigital family to bring a new element of service with P&C to such a well-respected player in the benefits market,” said Mike Shanahan, Chairman, President and CEO of HM. “This merger with OneDigital provides us the opportunity to enter on the ground floor with a seat at the table for a rapid build in the multiline agency space. It’s our intention to support downstream acquisition efforts as more P&C agencies become aware of this unique opportunity. OneDigital’s and HM’s alignment on a culture- and people-first approach to business will allow us to continue to drive success through relationships.”
The acquisition of HM brings an entirely new component to OneDigital’s offerings and services. OneDigital is reshaping the boundaries of its client-facing solution set differently than any other market participant across the country, empowering greater growth for businesses and people. The expectation is that many like-kind multiline firms will find a home at OneDigital in the years to come. Insurance M&A consulting firms Waller Helms and Dowling Hales advised OneDigital and HM in the transaction, respectively.
About OneDigital
OneDigital is the nation’s leading health, retirement/wealth, and HR advisory firm focused on empowering business growth for employers of all sizes, and has consistently led as a workplace ally for over 20 years. OneDigital’s unique ability to converge health, wealth and human resources into a hub of services and business guidance has empowered companies to create workplaces that attract and retain talent while fueling innovation and company growth. As employee health care, wellness and workplace benefits continue to shift, companies of all sizes have relied on OneDigital’s exceptional advisory teams for counsel and its adjacent services, including employee benefits, holistic HR services, employee wellbeing and pharmacy consulting, as well as the retirement and wealth management services provided through OneDigital Investment Advisors. Headquartered in Atlanta, OneDigital's more than 100 offices and 2,400+ business strategists serve the needs of over 60,000 employers across the nation.
OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 11 companies to do so. Currently listed as 18th on Business Insurance’s list of 100 Largest U.S. Brokers, OneDigital’s deep analytic abilities and experienced advisors deliver insights that reduce business risk and improve plan design and performance. For more information, visit www.onedigital.com. (Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.)
About HM Employee Benefits and Risk Management
Since 1991, individuals and businesses alike have trusted HM Risk to provide sound insurance, risk management and employee benefits needs. The firm’s advisors have over 300 years of collective experience, professional designations, and distinctions. HM Risk has been recognized as one of the Hales Report’s Top 100 Brokers in the U.S. and is a member of the WBN, the world’s largest network of independently owned and managed firms.
