ABD Insurance and Financial Services, a part of Wells Fargo Insurance Services, has acquired the assets of Martin Financial/Insurance Services. Terms of the transaction have not been not disclosed.
Wells Fargo has said that the acquisition adds to its diversified Northern California presence – now a total of 2,500 team members in 51 cities across the region including 147 banking stores and 12 insurance brokerage offices.
Company shareholder Bud Martin and six Martin Financial/Insurance Services team members will integrate their current practice into the Wells Fargo of California Insurance Services’ North Bay operations.
Mr Martin said: Our customers will receive the same great service from the same team of committed professionals, but they’ll now have access to a broader range of resources and services to help them succeed financially.
Dave Zuercher, president, chairman and CEO of Wells Fargo Insurance Services, added: We’ve grown to become one of America’s largest insurance brokerage companies by combining our national resources with great local agencies like Martin Financial/Insurance Services. We’ll continue to look for agency acquisitions that fit our vision, values and geographic needs.