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CBIZ Inc. has acquired the assets related to the employee benefits consulting business of Ed Jacobs & Associates Inc.
Terms of the deal were not disclosed.
The Cleveland, Tennessee-based employee benefits business of Ed Jacobs & Associates has nine employees and recorded $2.1 million in revenue during the past 12 months, CBIZ said Tuesday in a statement.
“By joining forces with a leading national firm, we have enhanced our ability to serve our clients by providing them with a broader array of products and services including payroll, retirement plan services, wellness programs and pharmaceutical advisory services,” Ed Jacobs, partner with EJ&A, said in the statement. “We can now bring these additional resources and offerings to our clients, while continuing to expand our local presence in Tennessee and beyond.”
CBIZ unit CBIZ Benefits & Insurance Services Inc. is the 18th-largest broker of U.S. business, according to Business Insurance's latest ranking.
Employees of American Century Cos. Inc., parent of asset management firm American Century Investments, have sued over the firm's 401(k) plan, the latest in a string of lawsuits targeting financial services companies for their own retirement plans.