Barclay Insurance Services has revealed its plans to merge with Sterling Capital Brokers (SCB).
According to SCB, the merger will form one of the largest independent employee-owned benefit consulting firms in Canada.
Founded in 1990, the Vancouver-based Barclay Insurance Services serves more than 200 employee benefits, group retirement, and individual insurance clients in British Columbia. Company founder, Eric Barclay, has more than 35 years of experience in the insurance and financial services industry, having served as a strategic planning consultant for hundreds of organizations.
"Merging with Sterling Capital Brokers comes at an important time for many of our clients who are looking for new technology to unlock process efficiencies and cost savings,” said Eric Barclay. “The combined company will bring an innovative set of services to the British Columbia market. We are excited and proud to be the newest addition to the SCB family".
SCB co-founder and global head of sales Stefan Ionescu noted that SCB continues to grow, thanks to recent organic client acquisitions outpacing previous years and the company’s seven mergers in 2021.
“Sterling is excited to continue our national growth as we add team Barclay to our growing family,” said Ionescu. “Eric and his team bring an impressive skillset which will continue to push Sterling to offer best in class service and consulting to our clients.”
One of SCB’s mergers last year was with the Alberta-based, middle-market benefit consulting firm Riverview Insurance Solutions (RIS). RIS, founded in 2015, oversees benefit consulting for over 200 high growth clients.
