Lenox Advisors expands to mid-Atlantic market with $800M Maryland practice

investmentnews.com:

Lenox Advisors, an affiliate of NFP and an Aon company, has extended its reach into the Mid-Atlantic wealth space with a sizeable acquisition.

The firm announced that it recently acquired Martin/Wight & Company, a Baltimore, Maryland-based independent advice practice.

The transaction in Maryland brings $800 million in assets under management to Lenox Advisors, substantially expanding its book to $3.5 billion. The firm’s namesake founders, Brian Martin and Ted Wight, will join Lenox Advisors as Partners.

“We’re very excited to welcome Brian, Ted and the M&W team to Lenox,” Frank Anzalone, managing director and national head of sales & distribution at Lenox Advisors, said in a statement.

A specialized practice, M&W focuses primarily on healthcare professionals including physicians, dentists, and medical centers.

Its expertise lies in providing comprehensive services like wealth management and financial planning. Beyond that, the firm also offers executive benefits solutions that encompass disability insurance, voluntary benefits, ancillary benefits, individual and group life insurance, and long-term care.

Greg Large, president of Lenox Advisors, emphasized the strategic benefits of the transaction for both parties.

“The M&W team has an excellent reputation in the greater Baltimore area and across the medical profession nationally,” Large said.

“We will gain from their relationships and expertise; they will benefit from access to a new level of resources and support, and their clients will draw on an expanded portfolio of solutions,” he said

Both seasoned veterans, Wight and Martin have been in the advisory business since before the turn of the century. Wight has been registered with the SEC for 25 years, while Martin’s