First Person Acquired by New York Firm
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based First Person is under new ownership. The employee benefits brokerage firm has been acquired by New York-based insurance broker and consultancy NFP, though financial terms of the deal are not being disclosed. First Person founder and Chief Executive Officer Bryan Brenner says the acquisition is the logical next step in a 20-year partnership between the two firms. “I think as the market continues to mature and develop, client needs are growing in the people space and it made sense to become part of NFP officially.”
Brenner, who founded First Person at the age of 24, tells Inside INdiana Business the decision was a personal one.
“I’ve worked for 24 years to create something of value. I’m able to take advantage of a little bit of that, but also keep going and building and growing this marketplace and being able to do both at the same time has been very freeing and exciting to think about what’s next and look ahead to the future more,” said Brenner. “It’s been gratifying.”
NFP employs more than 5,800 people around the world. First Person says all of its 55 employees have joined the NFP team.
Brenner says the day-to-day client operations will continue as they have been. He says the acquisition will provide more resources for clients and employees alike.
“What NFP does care about is growth and brand and quality. NFP’s specialty practices nationally, coupled with our 55 people located here with growth mindset, creates a great combination,” he said. “So, for our existing clients, it looks a lot the same with some new capabilities. For our people, it’s a great opportunity because joining NFP makes us 5,800 strong across the globe and gives our employees the ability to work and go anywhere, which is exciting.”
Brenner says the Indy operations will continue under the First Person brand for the time being. He says the growth opportunities for First Person employees are plentiful.
“It’s a matter of having peers across the country who they can look to as someone they want to be more like, they want to aspire to, be mentored by,” said Brenner. “I love that First Person’s created a great culture here and I’m very proud of what it is, but this provides our people opportunities I could never have provided on my own. So, that’s a great feeling to know that our people have all sorts of new energy and opportunity.”
Brenner will continue as managing director of NFP, while First Person President and Chief Strategy Officer Mark Minner will serve as NFP senior vice president.
Mike Schneider, president of NFP’s central region, said in a news release the acquisition will change the landscape of insurance and benefits in Indiana.
Brenner says the decision was a personal one.