NFP Insurance Solutions

What NFP Insurance Solutions does

NFP Insurance Solutions is the marketing name for SBSI, Inc., a privately held, Chicago-based independent insurance advisory firm operating under the NFP Corp. umbrella (itself an Aon firm). Founded in 1919, the firm specializes in risk management and life insurance solutions for ultra-high-net-worth (UHNW) individuals, professional firms and partnerships (law, accounting, consulting), and closely held business owners. The firm is led by Senior Managing Director Howard E. Sharfman and President/Managing Director Warren McGuire, with a team of roughly 18 named senior professionals spanning Managing Directors, Directors, Executive Directors, Case Design/Underwriting specialists, and project managers.

The firm's core offerings span life insurance (term, whole, universal), estate planning, business succession planning, executive benefits, disability insurance (including high-limit and executive group), annuities, long-term care insurance, premium finance, private placement life insurance (PPLI), and international insurance solutions. Sub-products such as Cash Balance Plans, Irrevocable Life Insurance Trusts (ILITs), Buy-Sell Agreements, Key Person Insurance, Executive Disability Programs, and Split-Dollar Arrangements extend the wallet share within existing client relationships. The firm does not maintain a proprietary technology platform; case design and underwriting are handled in-house by specialists, and the firm uses no public APIs, integrations, or AI/ML tools.

NFP Insurance Solutions generates revenue primarily through commissions earned on insurance products placed for clients, with quote-based, multi-year pricing tailored to each UHNW client's situation. Its go-to-market relies on direct client engagement by Managing Directors and Directors combined with a trusted-advisor referral network (attorneys, accountants, financial advisors, and notably Forvis Mazars). The firm serves clients nationwide from offices in Chicago (HQ), New York, Pittsburgh, Richmond, and Atlanta. The January 2025 acquisition of Forvis Insurance Agency added 500+ shared clients and Managing Director Todd Loving, and the firm continues to expand through senior producer hires across 2024-2025.

Name

NFP Insurance Solutions

Legal name

SBSI, Inc.

Website

https://nfpis.com

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

11–50 employees

Short description

NFP Insurance Solutions is a Chicago-based independent insurance advisory firm (a marketing name for SBSI, Inc., under NFP Corp.) that designs life insurance, estate, business succession, and executive benefit solutions for ultra-high-net-worth individuals, professional firms, and business owners nationwide.

Ownership category

akta.pro rank

Product category

Insurance Advisory Services

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Individual Disability Income Insurance (Non-Group) (FSAIAIAA)

akta.pro secondary industry

Traditional Long-Term Care (LTC) Insurance (FSAIAJAA)

Keywords

• Insurance advisory services
• Life insurance solutions
• Estate planning services
• Wealth preservation planning
• High net worth insurance

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Brokerage and Advisory Services: NFP Insurance Solutions operates as an independent insurance advisory firm earning commissions on insurance products placed for clients. The firm specializes in structuring large, complicated insurance transactions for high-net-worth clients and their advisors.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

NFP Insurance Solutions is an independent insurance advisory firm that designs and structures customized life insurance, disability, annuity, and long-term care solutions for ultra-high-net-worth individuals, families, and business owners. The firm works alongside clients' existing advisors to place coverage with carriers and deliver advanced strategies such as Private Placement Life Insurance (PPLI), premium finance, executive benefits, and business succession funding.

Product overview

NFP Insurance Solutions operates as an independent insurance advisory firm offering a comprehensive suite of insurance and wealth planning solutions. The firm specializes in serving ultra-high-net-worth individuals and their advisors with complex insurance needs. Their core offerings include life insurance, estate planning, business succession planning, executive benefits, disability insurance, annuities, long-term care insurance, premium finance, private placement life insurance (PPLI), and international insurance solutions. The firm enhances its core offerings with specialized retirement planning through Cash Balance Plans integrated with life insurance, and sophisticated trust solutions such as Irrevocable Life Insurance Trusts (ILIT) for estate tax reduction and asset protection. Additional specialized products include buy-sell agreements, executive disability programs, key person insurance, and split-dollar arrangements—all designed to help clients grow, protect, and transfer wealth across generations.

Differentiator

Problem solved

Functional benefit

Products and services

• Life Insurance
• Estate Planning
• Business Succession Planning
• Executive Benefits
• Disability Insurance
• Annuities
• Long-Term Care Insurance
• Premium Finance
• Private Placement Life Insurance (PPLI)
• International Insurance Solutions
• Cash Balance Plans

Quantifiable outcome

• $2.8 million paid to beneficiaries in one case
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Forvis Insurance AgencycoreStrategic or Co-development Partner · 15 January 2025NFP Insurance Solutions completed acquisition of Forvis Insurance Agency effective January 15, 2025. The acquisition builds on a decades-long relationship with over 30 years of collaboration and more than 500 shared clients. Todd Loving joined as Managing Director as part of the transition, bringing his expertise and long-standing client relationships.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• M Financial Group: M Financial Group is a member-owned network of independent life insurance agencies focused on high-net-worth and corporate-owned life insurance cases. It is the closest structural analog to NFP Insurance Solutions in that both operate as independent advisory firms serving complex UHNW cases through member producers, and Kevin Bewley (NFPIS's Case Design specialist) previously worked at M Financial member firm The Downey Group.
• Lenox Advisors: Lenox Advisors is an NFP-owned wealth and insurance advisory firm serving high-net-worth and corporate clients, and Jacob Hartz (NFPIS Managing Director) was previously an advisor there. As a sister company under NFP Corp., Lenox offers directly overlapping life insurance, executive benefits, and wealth planning capabilities to a similar UHNW client base, and is the most natural direct internal competitor.
• Baystate Financial: Baystate Financial is a large independent financial services firm headquartered in Boston that offers life insurance, wealth management, retirement planning, and executive benefits to high-net-worth individuals and corporate clients. It competes head-to-head with NFPIS for UHNW life insurance case design in the Northeast and operates a similar advisor-led, independent-brokerage model.
• Highland Capital Brokerage: Highland Capital Brokerage is an insurance brokerage specializing in advanced life insurance solutions for high-net-worth and corporate-owned cases. It competes with NFPIS in case design, advanced underwriting, and placement of large and complex policies, and serves a similar registered-rep and advisor intermediary channel.

Broad incumbents

• New York Life Insurance Company: New York Life is one of the largest U.S. mutual life insurers, offering a broad portfolio of life insurance, long-term care, and annuity products. Todd Loving (NFPIS Managing Director) previously worked at New York Life, illustrating the direct career-path competition; as a carrier, New York Life competes indirectly with NFPIS for large-case placements and offers captive agent alternatives to independent advisory.
• Northwestern Mutual: Northwestern Mutual is a major U.S. financial services company providing life insurance, disability income, annuities, and wealth management. Todd Loving also previously worked at Northwestern Mutual, making it a direct labor-market and placement competitor; as a captive system, it competes with independent advisors like NFPIS for the same HNW clients through its own advisor force.
• MassMutual: MassMutual is a leading U.S. mutual life insurer offering life, disability income, long-term care, and annuity products, with a broad HNW distribution channel. It competes with NFPIS both as a placement destination for large cases and as a captive-system alternative to independent insurance advisory for HNW clients.
• Goldman Sachs Personal Financial Management: Goldman Sachs Private Wealth Management serves ultra-high-net-worth individuals and families with holistic wealth planning including insurance and estate solutions. It competes with NFPIS for the same UHNW segment, but offers insurance as one component within a much broader investment banking and wealth platform.
• Cresset Partners: Cresset is an ultra-high-net-worth wealth advisory and family office platform offering investment management, estate planning, and tax services to HNW families and founders. It competes for the same UHNW client relationships as NFPIS but at much larger AUM scale and with a broader wealth-management suite that includes insurance as a subset.

Emerging players

• Pinnacle Financial Group: Pinnacle Financial Group is an independent insurance and financial services firm serving HNW clients. Leigh Harter (NFPIS Managing Director) previously served as Managing Director of Pinnacle's Chicago office, making it a direct talent competitor and a comparable boutique HNW insurance advisory, though with a more limited national footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nfp-insurance-solutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NFP Insurance Solutions