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CBIZ Acquires Retirement Plan Business Unit From Sequoia Financial

    

CLEVELAND, OH, December 4, 2018 -- CBIZ, Inc. (NYSE: CBZ) (the "Company") today announced that it has acquired Sequoia Institutional Services ("SIS"), a business unit of Sequoia Financial Group, L.L.C., effective December 1, 2018.

Founded in 2010 and based in Akron, Ohio, SIS provides retirement plan investment advisory services. SIS has eight employees and recorded approximately $2.0 million in revenue during the past year.

Jerry Grisko, President and CEO of CBIZ, stated, "We are excited to welcome the SIS team to our CBIZ family. In addition to a strong cultural fit between SIS and CBIZ, the addition of SIS to our existing team of retirement plan specialists allows us to provide our clients with an even broader array of services backed by a larger team of top rate professionals."

Tom Haught, President of Sequoia, said, "Regulation, technology and specialization make the retirement business a concentrated effort, with talented people playing a critical role. This transaction allows our professionals to focus on client engagement with the added benefit of leveraging the scale and expertise of the CBIZ infrastructure."

About CBIZ

CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and insurance needs. CBIZ provides its clients with financial services, including accounting, tax, financial advisory, government healthcare consulting, risk and advisory, and valuation services. Benefits and insurance services include group health benefits consulting, property and casualty insurance, retirement plan consulting, payroll, and HR consulting. As one of the largest accounting, insurance brokerage and valuation companies in the United States, the Company's services are provided through more than 100 Company offices in 33 states. For more information, please visit www.cbiz.com.

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