Wells Fargo Insurance Acquires Employee Benefits Firm

September 16, 2011 (PLANSPONSOR.com) - Wells Fargo Insurance Services has acquired Procomp Benefit Resources, Inc. an employee benefits brokerage and consulting firm based in Hazlet, New Jersey.

Procomp is a full-service brokerage and consulting firm providing employee benefits, voluntary benefits, individual life and disability, and retirement services to middle-market and large employers. Stephen Paternoster, President and Principal of Procomp, and his team will move to the Wells Fargo Insurance Services office in New Jersey and continue to serve their current clients from that location.  

The deal will allow Wells Fargo to strengthen its presence in New Jersey and will help Procomp provide its clients with access to more resources, financial services, and products, the announcement said.