HUB Financial

What HUB Financial does

HUB Financial Inc. is a Canadian Managing General Agent (MGA) headquartered in Woodbridge, Ontario, and a wholly-owned subsidiary of HUB International Limited. Founded in 1997, the company operates as a distribution intermediary providing independent insurance and investment advisors access to more than 20 major Canadian insurance carriers (Manulife, Sun Life, Canada Life, Desjardins, Empire Life, iA Financial Group, BMO, RBC Insurance, Assumption Life, Equitable Life, ivari, and others) along with licensing, technology, compliance, training, and back-office support. Its national footprint spans 15 offices across seven provinces and approximately 220 dedicated employees, processing roughly 56,000 applications per year and supporting approximately $6 billion in managed assets through its advisor network.

The company's product surface is organized around three pillars: (1) core life, health, critical illness, and disability insurance distribution via carrier partnerships; (2) the FlexSave Private Health Services Plan (PHSP), a tax-advantaged employee health and dental benefits product for incorporated business owners and self-employed individuals, priced at a $250 one-time setup fee plus a 10% administration fee on claims; and (3) HUB Capital, a mutual fund dealership allowing advisors to consolidate insurance and investment business under one licensing umbrella. Underpinning these pillars is HUBLink, an integrated advisor portal bundling proprietary tools (PROPEL Powered by LDA for case management, WinQuote and LifeGuide for product comparison, RazorPlan for financial planning, AdvisorFlow for client communication, CapIntel for investment proposals, NestWealth for robo-advisory, and FindBob for succession planning) with partner integrations and the Compliance Centre.

HUB Financial generates revenue through multiple streams: insurance and investment commissions from carrier distribution (transaction fees), mutual fund dealership economics via HUB Capital (transaction fees), PROPEL/LDA software subscriptions ($99/month for the first office license, $79/month per additional license), FlexSave setup and administration fees, and ancillary service revenue from partner offerings such as North Shore Digital marketing services and NPC DataGuard cybersecurity. Go-to-market is anchored in a channel-partner model targeting independent advisors and MGA firms, supplemented by a direct-to-employer motion for FlexSave and an active M&A program acquiring successful advisory practices (e.g., BridgeForce Financial Group in 2023, Daystar) for advisor retention and network expansion.

Name

HUB Financial

Legal name

HUB Financial Inc.

Website

https://hubfinancial.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

251–500 employees

Short description

HUB Financial is a Canadian Managing General Agent (MGA) that provides independent insurance and investment advisors with carrier access to 20+ insurers, technology tools, compliance support, and training, while distributing life, health, group benefits (FlexSave PHSP), and mutual fund products across 15 offices in seven provinces.

Ownership category

akta.pro rank

Product category

Managing General Agent Services

NAICS

Portfolio Management and Investment Advice (523940), Finance and Insurance (52), Health and Welfare Funds (525120)

SIC

Life Insurance (6311), Investment Advice (6282), Accident & Health Insurance (6321)

akta.pro primary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

akta.pro secondary industry

Specialized/Niche-Vertical RIAs (e.g., Medical, Tech, Executives, Athletes) (FSAAACAL)

Keywords

• Managing general agent
• Insurance distribution
• Mutual fund dealership
• Employee benefits administration
• Advisor technology platform

Headquarters

HQ city

Woodbridge

HQ country

Canada

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. FlexSave Administration Fees: 10% administration fee on eligible claims plus applicable taxes. No ongoing premium payments required after one-time setup fee.
2. FlexSave Setup Fees: One-time $250 setup fee for new FlexSave employer accounts
3. PROPEL Software Licensing: Monthly subscription for insurance policy management software: $99/month for first license, $79/month per additional office license
4. Insurance Distribution Revenue: Revenue from distribution of insurance products through carrier partnerships, earning commissions from life, health, critical illness, and disability insurance products
5. Mutual Fund Dealership Revenue: HUB Capital mutual fund dealership providing advisors access to investment products and generating distribution revenue

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

HUB Financial operates as a Canadian Managing General Agent (MGA) providing independent insurance and investment advisors with licensing, access to 20+ major Canadian insurance carriers, technology tools, compliance resources, training, and business-building support. The company distributes life, health, critical illness, and disability insurance products, operates the HUB Capital mutual fund dealership, and offers FlexSave, a Private Health Services Plan (PHSP) for incorporated business owners and self-employed individuals to pay health and dental expenses in a tax-effective manner.

Product overview

HUB Financial is a financial services provider and Managing General Agent (MGA) offering a comprehensive platform for insurance advisors, investment professionals, and employee benefits. The core offering is a suite of advisor tools organized in a Resource Room, which includes insurance comparison software (WinQuote, LifeGuide), financial planning tools (RazorPlan), case management platforms (PROPEL Powered by LDA, Life Design Analysis), and client communication tools (AdvisorFlow). For employee benefits, FlexSave provides a Private Health Services Plan (PHSP) for incorporated businesses. The investment arm, HUB Capital, offers mutual fund dealership services with tools for investment proposals (CapIntel), wealth management (Nest Wealth), and social media marketing (Hootsuite Amplify). Additional services include succession planning (FindBob), expert case support (ACES), professional training (MPAT), digital marketing (North Shore Digital, Advisor Websites), cybersecurity (NPC DataGuard), and regulatory compliance tools. The platform integrates with multiple insurance carriers and technology partners to provide advisors with a comprehensive toolkit for managing their practice.

Differentiator

Problem solved

Functional benefit

Brands

• FlexSave: A Private Health Services Plan (PHSP) that helps incorporated business owners and self-employed individuals with employees pay the health and dental expenses in a tax-effective and cost-efficient manner.
• HUB Capital

Products and services

• FlexSave Private Health Services Plan (PHSP) that helps incorporated business owners and self-employed individuals with employees pay health and dental expenses in a tax-effective and cost-efficient manner, with online application submission, claims processing, and optional emergency/wellness coverage.
• HUB Capital Mutual Fund Dealership Mutual fund dealership platform allowing independent advisors to consolidate insurance and mutual fund business under one roof, with access to multiple tools, resources, and support. Described as one of Canada's top mutual fund dealerships.
• PROPEL Powered by LDA Insurance case management platform providing access to in-force policy data across multiple carriers, with tools for client management, digital sales presentations, needs analysis, and LeadGen for generating new leads.
• WinQuote Product comparison software enabling advisors to generate product comparisons for single life, joint life, combined billing, and multi-life from all major Canadian insurance companies.
• LifeGuide Subscription-based insurance comparison software providing advanced facilities to compare premiums and values for individual, joint, combined billing discounts, and multi-life functions across term, whole life, universal life, critical illness, and special risk products. HUB Advisors receive a $100 annual discount.
• RazorPlan Financial planning software that uses innovative algorithms to run intuitive calculations for analyzing client financial risk management needs and generating client-friendly reports.
• AdvisorFlow All-in-one client communication platform that helps advisors communicate with prospects by providing tools for filling out intake forms, scheduling meetings, collecting documents, and sharing updates.
• ACES (Advanced Case & Estate Solutions Group) Expert support service for advisors dealing with larger and more complex situations, providing assistance in technical business or estate planning, product/supplier selection, and solution development.
• Masterworks Professional Advisor Training (MPAT) Professional advisor training program helping independent advisors establish, grow, and protect their business through sales strategies, marketing techniques, and client-facing materials.
• FlexSave Member Portal Online portal for FlexSave clients to submit claims, access forms, view video tutorials, and manage their health spending account.

Quantifiable outcome

• 56,000 applications processed per year
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

25 partnerships are on record, tiered core and minor.

• ManulifecoreChannel Partner/ Reseller/ DistributorMajor Canadian insurance carrier providing life insurance, health insurance, and wealth management products distributed through HUB advisor network
• Sun LifecoreChannel Partner/ Reseller/ DistributorMajor Canadian insurance and wealth management company with products distributed through HUB advisor network including eApp platform
• Canada LifecoreChannel Partner/ Reseller/ DistributorMajor Canadian insurance provider with Simple Protect eApp platform integrated with HUB systems
• DesjardinscoreChannel Partner/ Reseller/ DistributorQuebec-based insurance cooperative with Web i platform for online insurance applications distributed through HUB
• Empire LifecoreChannel Partner/ Reseller/ DistributorCanadian insurance company offering Fast & Full Life Application platform for HUB advisors
• iA Financial GroupcoreChannel Partner/ Reseller/ DistributorCanadian insurance and wealth management company with Evo eApp platform accessible to HUB advisors
• BMOcoreChannel Partner/ Reseller/ DistributorBank-owned insurance provider with SmartApp platform for HUB advisor access
• RBC InsurancecoreChannel Partner/ Reseller/ DistributorRoyal Bank of Canada insurance subsidiary with Fundamental Series application available to HUB advisors
• Assumption LifecoreChannel Partner/ Reseller/ DistributorDigital Marketplace Storefront solution and Lia sales platform available to HUB advisors
• BenevacoreChannel Partner/ Reseller/ DistributorCanadian insurance company with online tools and services including Stop Loss coverage for FlexSave clients
• Equitable LifecoreChannel Partner/ Reseller/ DistributorCanadian insurance provider with EquiNet platform available to HUB advisors
• ivaricoreChannel Partner/ Reseller/ DistributorCanadian life insurance company with LifeView platform accessible to HUB advisors
• B2B BankcoreChannel Partner/ Reseller/ DistributorBanking partner for investment products distributed through HUB Capital
• Canada Protection PlancoreChannel Partner/ Reseller/ DistributorInsurance partner providing simplified protection products through HUB advisor network
• Foresters FinancialcoreChannel Partner/ Reseller/ DistributorFraternal benefit organization providing insurance products through HUB
• Humania AssurancecoreChannel Partner/ Reseller/ DistributorInsurance provider with products available to HUB advisors
• The EDGE BenefitscoreChannel Partner/ Reseller/ DistributorInsurance partner providing specialized products through HUB
• My DignitycoreChannel Partner/ Reseller/ DistributorInsurance partner available through HUB advisor network
• Allianz Global AssistanceminorChannel Partner/ Reseller/ DistributorTravel insurance provider partner for HUB clients
• Hunter McCorquodaleminorChannel Partner/ Reseller/ DistributorInsurance partner available through HUB network
• AdvociscoreGTM or Marketing PartnerEducational portal offering HUB advisors discounted registration for CLU, CHS, LLQP, PFA designation programs with exclusive CE opportunities and Find an Advisor directory listing
• North Shore DigitalcoreTechnology or IntegrationAward-winning digital marketing agency specializing in SEO and Google Ads for financial services industry, providing marketing services to HUB advisors
• NestWealthcoreTechnology or IntegrationDigital wealth management (robo-advisor) solution referral partnership allowing advisors to add clients without administration or compliance work
• CapIntelcoreTechnology or IntegrationInvestment proposal platform providing branded portfolio analytics and comparison tools for HUB advisor sales process
• FindBobcoreTechnology or IntegrationSuccession platform marketplace helping advisors discover opportunities within network and providing transition management to predict and prevent attrition

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• iA Financial Group: Canadian insurer and wealth manager distributing life, health, and investment products through advisor networks — directly comparable as both a HUB carrier partner and a vertically integrated distribution competitor.
• Primerica: Large North American distributor of term life and investment products using an independent advisor model — comparable in distribution structure though US-centric and focused on middle-income households.
• Sun Life Financial: Major Canadian insurer and wealth manager that distributes life, health, and investment products through advisor networks — comparable both as a HUB carrier partner and as a vertically integrated competitor.
• CI Global Investments: Major Canadian asset manager with a wealth distribution channel — comparable as both a HUB Capital fund partner and an integrated competitor offering advisor-supporting wealth platforms.

Regional players

• Desjardins Financial Security: Quebec-based insurance and wealth cooperative with significant Quebec market presence — comparable as a regional insurance and investment distribution competitor in HUB's home market.

Direct peers

• Manulife Securities: Canadian wealth and insurance distribution arm of Manulife providing advisors with investment and insurance product access — directly comparable to HUB Financial + HUB Capital's combined offering.
• Credential Financial: Canadian wealth management platform serving credit union advisors with investment, insurance, and planning tools — comparable as a Canadian advisor-support platform competing for the same independent advisor base.
• Quadrus Investment Services: Canadian mutual fund dealership owned by Great-West Lifeco, offering independent advisors a similar combination of investment products and insurance distribution support.
• IG Wealth Management (Investors Group): Canadian wealth and insurance distribution firm with a large captive advisor network offering mutual funds, insurance, and benefits — comparable to HUB's MGA and HUB Capital mutual fund dealership model.
• Worldsource Financial Management Group: Canadian mutual fund dealership and MGA providing independent advisors with licensing, product access, and back-office support — directly comparable to HUB Capital and HUB Financial's distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/HUBFinancial
• LinkedInlinkedin.com/company/hub-financial-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about HUB Financial