Chicago-based Wells Fargo Insurance Services Inc. said that its brokerage affiliate, ABD Insurance and Financial Services, has acquired Santa Rosa, Calif.-based Martin Financial/Insurance Services. Financial terms were not released.
Wells Fargo said the Martin firm works primarily in the areas of group and individual health, life, disability, dental and vision, focusing on the employee benefit needs of groups ranging in size from one to several hundred employees, including both fully insured and self-funded plans. Martin was founded in 1981.
Company shareholder Bud Martin and six associates will integrate their current practice into the Wells Fargo of California Insurance Services' North Bay operations.
Wells Fargo Insurance Services is a subsidiary of San Francisco-based bank Wells Fargo & Company.
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