NFP, an insurance broker and consultant, says it has acquired Fiduciary Investment Advisors.

NFP is integrating FIA with its subsidiary, DiMeo Schneider & Associates, an investment consultant to retirement plans, nonprofits and private clients, to form a unified RIA, according to a press release from NFP.

The combined entity, which has 180 professionals working out of seven locations advising on around $200 billion for clients in 47 states, as of the end of 2019, will operate independently under the DiMeo Schneider brand, led by DiMeo Schneider and FIA management teams, NFP says.

Robert DiMeo, managing partner of DiMeo Schneider, is now CEO of the combined entity, while Mark Wetzel, president of FIA, serves as its president, according to the press release.

"This is an exciting milestone for our firm," Wetzel says in the press release. "DiMeo Schneider has an exemplary culture and commitment to clients. This combination is consistent with FIA's history of seizing opportunities that elevate the value we deliver to our clients."

The companies didn't disclose the financial terms of the deal, which closed on April 1, according to the press release.

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