Alera Group Adds $3B Wealth Mgmt Practice

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Alera Group Wealth Service says it has acquired retirement and investment specialist firm Johnson Brunetti.

Johnson Brunetti is based in Connecticut and has eight offices in the Northeast and one in Atlanta, according to Alera.

Founded in 2005, Johnson Brunetti now has around $1.5 billion in client assets through its registered investment advisor arm as well as another $1.5 billion in annuity and insurance assets, according to Alera.

“Our education-based model has helped us serve thousands of clients, and now as part of Alera Group Wealth Services we anticipate reaching many more, both in our current footprint and elsewhere,” Joel Johnson, managing partner of Johnson Brunetti, said in the announcement. “We anticipate leveraging Alera Group’s expertise in mergers and acquisitions in addition to back-office, technology and centralized investment services.”

The companies didn’t disclose the financial terms of the deal.

Alera also acquired a Pennsylvania-based wealth management practice with $3.5 billion in assets in July.

Alera itself, meanwhile, had $1.27 billion for 2,681 accounts as of March 21, the most recent update to its Form ADV.

Alera Group Wealth Services is a division of Alera Group, a national insurance and wealth services firm with more than 3,500 professionals in more than 130 offices and over $1 billion in annual revenue, according to the firm.

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