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Higginbotham, a broad-based employee-owned insurance, financial and HR services firm headquartered in Fort Worth, has acquired Stephens Insurance Services, a benefits specialist based in Lubbock.
Founded in 1997 by Ed Stephens and now led by his son, Zach Stephens, the firm has deep roots in West Texas.
“Stephens is West Texas born and bred and laser-focused on relationships and community,” said Higginbotham Chairman and CEO Rusty Reid in a statement. “By combining their trusted local leadership and decades of benefits experience with our resources, we’re building an unbeatable team that can provide single-source solutions to any client in West Texas — even the most complicated public sector and commercial accounts.”
Stephens Insurance Services specializes in group benefits, individual health and life benefits, and Medicare advisory assistance. With the added Higginbotham resources, the firm will expand its services without losing its focus.
“It’s about being good at what we do, and not trying to do everything ourselves,” said Zach Stephens. “That focus helped introduce us to Higginbotham, as we’ve had great experiences referring clients to their property and casualty teams. Now we get to have those same people in house.”
The collaboration gives Stephens access to larger-firm capabilities — and clients who need them — while keeping its local touch. “We can now walk in with those local boots on the ground and the backing of an entire specialty practice focused on public sector employers,” Stephens said.