The closing of the transaction is expected within 30 days, subject to a number of customary conditions, according to a news release. Lincoln Financial Advisors is a division of Lincoln Financial Group.
“The proposed acquisition expands BenefitMall’s presence in the insurance arena and enables us to build upon our commitment to provide brokers and carriers with a competitive advantage by providing superior product and services,” Bernard DiFiore, President and CEO of BenefitMall said in the release. Group One Source provides insurance brokers with a single-source for multi-carrier employee benefits products in more than 20 markets.
The acquisition is BenefitMall’s second this year. In February, the Company announced that it had purchased the assets of Colorado Group Services (CGS), a full-service general agency that servedColorado’s brokerage community for more than 15 years.