Financial terms of the transaction were not disclosed.
The two Boulder-based companies combined forces under the Professional Financial Specialists Inc. name in its office at 4735 Walnut St., according to Brent Rollman, the company’s operations manager.
John Bliley, founder of Bliley Insurance, will continue to work for the combined firm as a consultant, said Regan Turner, president and founder of Professional Financial Specialists. Bliley’s two support staff moved to the office on Walnut Street, Turner said.
The firm plans to hire three people by the end of the year to augment its 14-person staff. By joining together, the two firms want to help clients better negotiate health-insurance changes brought on by federal health-care reform rules, Rollman said. A federal health-care reform bill was passed in 2010 that requires every resident in the United States to have health insurance or face penalties.
“We saw it as an opportune time to grab more opportunity, since the market is agitated. It’s a good time to grow,” Rollman said.
Professional Financial Specialists plans to continue Bliley’s long-standing relationships with clients, many of whom have been customers for 35 years, Turner said.
Professional Financial Specialists offers insurance policies for business property, workers compensation, health, home, auto, life, disability, and medical malpractice. The company also offers payroll services and retirement program services.