Lovell Minnick Partners has signed an agreement to make a strategic growth investment in Broadstone, which is expected to enable the company to broaden its client offerings.
 
The Broadstone management team will continue to have a significant stake in the business and maintain the company's leadership.

The transaction is expected to close in the second quarter of 2025, subject to customary regulatory reviews and approvals and financial terms were not disclosed.

Commenting on the partnership, Lovell Minnick Partners principal, Roumi Zlateva, said: “LMP was drawn to Broadstone for a multitude of reasons ranging from its client-centric approach to its track record of organic growth, and of course, our strategic alignment and excitement for the next chapter of its development.”

Zlateva added that Broadstone had built a differentiated position in the market enabled by a “highly capable and talented team”, and said it looked forward to providing capital, guidance, and resources to continue that effort of scaling the business and positioning it for future success.

Adding to this, Broadstone CEO, Tony Gusmao, said that as it looks to the future, Lovell Minnick Partners’ investment coupled with the firm’s experience helping professional services firms scale would allow the company to "accelerate growth and expansion of its offering"s.

In particular, Gusmao said in Broadstone’s newly formed Insurance, Regulatory & Risk unit, which would assert its position as a leader in the insurance actuarial consultancy space.

Lovell Minnick Partners partner, Spencer Hoffman, added: “There is a growing need for specialist advice and consulting services across the employee benefits, pension, credit, and insurance industries, and the market demands a client-centric approach that offers accessibility, accuracy, and regulatory compliance.

“Broadstone’s capable management team and deep bench of actuaries, consultants, and administrators exude a culture of excellence.”

Broadstone’s services include employee benefits consulting, pensions administration and actuarial services, investment consulting, insurance consulting, credit risk services, financial modelling, data analytics services, and redress support.

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