National Financial Partners buys mid-market specialist Benefit Resources

National Financial Partners Corp. said Friday that it has acquired Cincinnati-based Benefit Resources Inc., which specializes in group benefits, human resources and benefit compliance, and employee benefits administration.

Financial terms were not disclosed.

Benefit Resources, which was founded in 1988, will continue to be led by Managing Director Tim Marcagi, NFP said.

“Benefit Resources brings over two decades of employee benefits and HR expertise to our team, furthering strengthening NFP's ability to provide superior services to our business clients,” Ed O'Malley, president of NFP's corporate client group in Austin, Texas, said in a statement.

Benefit Resources specializes in working with smaller and middle-market firms, Mr. O'Malley said.

New York-based National Financial Partners was the fifth-largest benefits broker and the 11th-largest broker of U.S. business, according to Business Insurance's latest ranking.