Starkweather & Shepley Insurance Brokerage has announced the acquisition of AiK2 Insurance Services, a New Jersey-based firm that provides specialized business insurance solutions for wealth and asset managers.
While financial details of the transaction remain undisclosed, the acquisition marks a strategic move for Starkweather & Shepley to deepen its footprint in the wealth management insurance space. As part of the integration, AiK2 will rebrand under the Starkweather & Shepley name and merge operations with the firm’s Private Client Insurance division.
Founded in 2021 as a joint venture between the Wealth Advisor Growth Network (WAGN) and KORE Insurance, AiK2 serves approximately 300 clients nationwide and oversees more than $200 billion in insured assets.
Andrew Fotopulos, Chairman of Starkweather & Shepley, underscored the strategic value of the acquisition, pointing to enhanced capabilities and expanded service offerings for clients in the high-net-worth and asset management sectors.
AiK2 co-founder and former CEO Jay Hummel will remain with the organization in an advisory capacity. He expressed confidence in the alignment of both firms, noting their shared commitment to professional excellence and client-centered service.
This acquisition follows Starkweather & Shepley’s September 2024 purchase of MacDonald & Vaccaro Insurance Agency, a Burlington, Massachusetts-based firm specializing in professional liability and directors & officers (D&O) liability insurance for human services organizations.
Founded in 1879, Starkweather & Shepley is one of the largest independent insurance brokerages in Rhode Island. With 14 offices across Rhode Island, Massachusetts, Connecticut, and Florida, the company provides a comprehensive suite of services including business and personal insurance, employee benefits, and risk management.
