Financial Brokerage Services

What Financial Brokerage Services does

Financial Brokerage Services, Inc. (FBS) is an independent, privately held employee benefits consulting and brokerage firm headquartered in Cabin John, Maryland, founded circa 1994 and operating for over 30 years. The firm serves small and mid-market employers with health and welfare benefit programs (medical, dental, vision, life/AD&D, disability, voluntary benefits, and tax-favored accounts such as FSA/HSA/HRA), as well as a limited set of national accounts clients, and provides personal insurance and financial planning services to high-net-worth individuals and executives (life insurance, executive benefits, retirement plans, SERPs, and death benefit only plans). Core operations are run by a three-person named team led by founder/President Paul ("Kit") Arbo (CLU, ChFC, 35+ years experience), with Senior Account Specialist Michele Baker (25+ years) and Senior Account Manager Kathleen Karns (15+ years).

FBS operates on a brokerage and professional services revenue model, earning commissions from insurance carriers for placing coverage and consulting/renewal fees from employer clients, augmented by commissions and fees on securities and advisory services distributed through Cambridge Investment Research Inc. and Cambridge Investment Research Advisors, Inc. (FINRA/SIPC). The technology stack is modest and outsourced: the FBS Client Portal is powered by third-party vendor Zywave, providing compliance tools (COBRA notice generator, compliance calendar), HR guides, and employee benefits management resources. The firm also distributes international travel medical insurance via a producer arrangement with IMGlobal. Go-to-market is high-touch, consultative sales — direct engagement with HR decision-makers and business owners for employer accounts, and email-driven consultation for individual clients — with no publicly disclosed pricing schedules.

The firm has no parent company, no funding rounds, no subsidiaries, no M&A activity, and no disclosed revenue. Securities distribution is enabled solely through the Cambridge partnership, and Paul Arbo is the registered representative in 8 states (VA, DC, MD, CO, DE, IN, FL, SC). Marketing is limited to a website, the client portal, and email outreach. The firm is positioned as a lifestyle boutique advisory, with growth signals limited to multi-state licensure, the travel insurance product line, and the Zywave-powered portal offering a 30-day compliance tool trial.

Name

Financial Brokerage Services

Legal name

Financial Brokerage Services, Inc.

Website

https://financialbrokerageservices.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Financial Brokerage Services is an independent, privately held employee benefits consulting and brokerage firm in Cabin John, MD, serving small and mid-market employers with group benefits and high-net-worth individuals with personal insurance and financial planning, operating via a 3-person team under founder Paul Arbo.

Ownership category

akta.pro rank

Headquarters

HQ city

Cabin John

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: FBS earns commissions from insurance carriers for placing employee benefit coverage including medical, dental, vision, life/AD&D, disability, voluntary benefits, and tax-favored accounts. Also earns commissions on personal insurance products including life insurance, executive benefits, and retirement plans.
2. Securities and Advisory Services: Securities offered through Cambridge Investment Research Inc. (broker-dealer, FINRA/SIPC member). Advisory services through Cambridge Investment Research Advisors, Inc. FBS functions as a registered representative for these services, earning commissions or fees on investment products.
3. Employee Benefits Consulting Fees: Consulting and brokerage fees for employee benefit design, strategy, planning, and ongoing administration services to employer clients. Includes cost-sharing analysis, renewal management, and carrier evaluation services.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Financial Brokerage Services is an independent employee benefits consulting and brokerage firm that designs, places, and administers group benefit programs (medical, dental, vision, life/AD&D, disability, voluntary benefits, and FSA/DCA/HSA/HRA accounts) for employers, and provides personal insurance and financial planning (life insurance, executive benefits, retirement plans, SERPs, and death benefit only plans) to individuals. The firm supplements its advisory services with a Zywave-powered online portal offering compliance tools, HR resources, and employee enrollment management.

Product overview

Financial Brokerage Services operates as an independent employee benefits consulting and brokerage firm offering a portfolio of related products and services. The core offerings consist of Employee Benefits Consulting & Brokerage (strategy, planning, program design, carrier evaluation, and administration support) and Personal Insurance Services (life insurance, executive benefits, retirement plans, and SERPs). These core services are supplemented by the FBS Client Portal — a Zywave-powered online platform delivering compliance, HR, and employee benefits management tools — and featured Travel Medical Insurance for international travelers. The product suite is rounded out by health and welfare coverages including medical, dental, vision, life/AD&D, disability, FSA/DCA/HSA/HRA accounts, voluntary coverages, and employer-sponsored pet, identity theft, and legal plans.

Differentiator

Problem solved

Functional benefit

Products and services

• Employee Benefits Consulting & Brokerage Comprehensive employee benefits consulting and brokerage services for employers covering strategy and planning, program design and modeling, cost analysis, carrier quote comparison, renewal management, and COBRA administration across medical, dental, vision, life/AD&D, disability, voluntary benefits, FSA/DCA/HSA/HRA accounts, and employer-sponsored pet, identity theft, and legal plans.
• Personal Insurance Services Individual-focused insurance and financial planning services covering Life Insurance Strategies, Executive Benefits, Retirement Plans, Death Benefit Only Plans, and Supplemental Executive Retirement Plans (SERPs) for affluent individuals and executives.
• Travel Medical Insurance International travel medical insurance plans that protect individuals, families, groups, and students against accident, illness, or injury while traveling abroad, offered through partnership with IMGlobal / International Medical Insurance Group.

Quantifiable outcome

• 30+ years of successful operation in employee benefits consulting and brokerage

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Cambridge Investment Research Inc.coreChannel Partner/ Reseller/ DistributorSecurities offered through Registered Representatives of Cambridge Investment Research Inc., a broker-dealer member FINRA/SIPC. Paul Arbo is registered with Cambridge in Virginia, Washington DC, Maryland, Colorado, Delaware, Indiana, Florida and South Carolina. Cambridge and Financial Brokerage Services are not affiliated.
• Cambridge Investment Research Advisors, Inc.coreChannel Partner/ Reseller/ DistributorAdvisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Provides the regulatory and compliance framework for FBS's advisory service offerings.

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• USI Insurance Services: Middle-market insurance brokerage and employee benefits consulting firm. Comparable benefits consulting, brokerage, and risk advisory model; USI's 'Local Plus' model is similar to FBS's high-touch regional approach.
• Hub International: North American insurance brokerage with a strong employee benefits and personal lines practice for SMB and mid-market clients. Directly comparable offering mix; competes for the same employer RFPs as FBS.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with a dedicated Gallagher Benefits & HR Consulting practice. Comparable to FBS in offering group health/welfare and executive benefits, but operating at national scale across all segments FBS targets.
• Brown & Brown: Large national insurance brokerage with a substantial employee benefits division serving small, mid-market, and national accounts. Operates with the same group benefits + personal lines model as FBS but at vastly greater scale; directly comparable as a competitor for the same employer clients.
• Lockton: Independent, privately held global insurance brokerage with strong employee benefits practice serving mid-market and large employers. Closest 'independent' peer to FBS by ownership structure, with the same high-touch consulting GTM.
• Marsh McLennan Agency: Middle-market focused subsidiary of Marsh McLennan providing employee benefits, business insurance, and wealth management. Highly comparable on employee benefits brokerage, consulting model, and SMB to mid-market client base.

Others

• Cambridge Investment Research: Independent broker-dealer and RIA platform on which FBS is registered to offer securities and advisory services. Not a competitor but a critical infrastructure partner; many Cambridge-registered reps operate small benefits + advisory practices comparable to FBS.

Regional players

• SaalexIT / Saxony Advisors (representative local benefits broker): Independent Mid-Atlantic employee benefits and financial services advisory firm. Comparable boutique model targeting employers and high-net-worth individuals for benefits, life insurance, and wealth advisory, with similar multi-state registration footprint.

Direct peers

• OneDigital: Tech-enabled employee benefits and HR consulting firm focused on small to mid-market employers with services including benefits brokerage, wellness, and HR advisory. Most directly comparable to FBS by client segment and benefits consulting orientation.
• Employee Benefit Advisors (a NFP/Aon company): Boutique-feel employee benefits brokerage arm of NFP (now part of Aon), serving small and mid-market employers with benefits consulting and personal lines. Closest size-and-segment comparable to FBS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/financial-brokerage-services-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Financial Brokerage Services