Wells Fargo Insurance Acquires EDIFY in undisclosed deal

Wells Fargo Insurance Services, a division of Wells Fargo and Company, has announced that it has acquired the Florida-based employee benefits consulting firm EDIFY.

Wells Fargo Insurance regional managing director Tom Longhta said that the deal will help the company provide customized benefits and wellness consulting for middle-market and large organizations that focus on lowering the overall cost of healthcare.

"EDIFY has a highly respected and experienced team of professionals whose strong client focus fits our business model," Longhta added. "They will strengthen our growing presence in Florida and further support Wells Fargo's commitment to help customers succeed financially by addressing their insurance needs."

Wells Fargo Insurance Services is the fifth largest insurance brokerage firm in the world with more that 7,000 employees in 37 states. The company was ranked 19th on Fortune's 2010 rankings of America's largest businesses last year.

EDIFY was founded in 1996 and offers consulting services across a wide range of business sectors throughout the country. Its clients include CVS Drugs, General Motors and Citibank.

The terms of the deal, which became official on July 1, have not been disclosed.