Top adviser aggregators focused on defined-contribution retirement plans

Retirement plan advisers interested in aggregator firms need to consider the differences

Jun 2, 2018 @ 6:00 am

By Greg Iacurci

FirmTotal DC assets ($B) overseen by network advisersNo. of DC advisers**Primary contactBusiness model
CAPTRUST***$221 95Rick Shoff
Managing Director, Advisor Group
Raleigh, N.C.
(215) 499-3361
rick.shoff@captrustadvisors.com
Acquisition.
RIA: Captrust Financial Advisors.
Broker-dealer: CapFinancial Securities.
NFP$133 100Nick Della Vedova
President, NFP Retirement
Aliso Viejo, CA
949-460-9898 Ext. 246
nick.dellavedova@nfp.com
Acquisition.
RIA: NFP Retirement Inc.
Broker-dealer: Kestra Investment Services.

NFP also has a membership model through Retirement Plan Advisory Group, which provides technology, resources, training, custom investments and turnkey fiduciary services for DC advisers. RPAG has $350 billion in DC assets and 1,200 advisers. It is RIA- and broker-dealer-agnostic.
SageView Advisory Group$88*51Randy Long
Managing principal
Irvine, Calif.
(949) 955-5787
rlong@sageviewadvisory.com
Acquisition.
RIA: SageView Advisory Group.
Broker-dealer: Cetera Advisor Networks.
GRP Financial$74 312Geoff White
Managing partner
Carlsbad, Calif.
(949)-359-0031
geoff.white@grpfinancial.com
Affiliation.
RIA: Global Retirement Partners.
Broker-dealer: LPL Financial.

GRP Financial also has a membership model through GRP Advisor Alliance, an invitation-only service providing tools, resources, conferences, and best-practice consulting for DC advisers. GRP Advisor Alliance has more than $225 billion in DC assets and 475 advisers. It is RIA- and broker-dealer-agnostic.
Lockton Retirement Services$60.2 29Pam Popp
President
Kansas City, Mo.
(816) 960-9603
ppopp@lockton.com
Acquisition.
RIA: Lockton Investment Advisors.
Broker-dealer: Lockton Financial Advisors.
Arthur J. Gallagher & Co.$55 64Dean Clune
National sales manager, retirement plan consulting
Rolling Meadows, Ill.
312-803-6376
dean_clune@ajg.com
Acquisition. Gallagher has two retirement-plan groups:

a) Gallagher Benefit Services Inc., which has $31 billion and 35 advisers.
RIA: Kestra Advisory Services.
Broker-dealer: Kestra Investment Services.

b) Gallagher Fiduciary Advisors, which has $24 billion and 29 advisers.
RIA: Gallagher Fiduciary Advisors.
Pensionmark Financial Group***$53.5 105Troy Hammond
President and CEO
Santa Barbara, Calif.
(805) 456-6262
troy.hammond@pensionmark.com
Affiliation is the firm's primary model.
Pensionmark has also acquired two practices and intends to make additional acquisitions.

RIA: Pensionmark Financial Group.
Broker-dealer: Pensionmark Securities.
USI Consulting Group$17.1*45*Michael Welz
President and CIO
Glastonbury, Conn.
(860) 368-2908
michael.welz@usi.com
Acquisition.
RIA: USI Advisors Inc.
Broker-dealer: USI Securities Inc.
CBIZ Retirement Plan Services$15 34Brian Dean
President
Cleveland, Ohio
216-520-6178
bdean@cbiz.com
Acquisition.
RIAs: CBIZ Financial Solutions Inc.,
CBIZ Investment Advisory Services.
Broker-dealer: CBIZ Financial Solutions Inc.
Sheridan Road Financial$13.5 20Daniel Bryant
CEO
Northbrook, Ill.
(312) 259-9097
dbryant@sheridanroad.com
Acquisition.
RIA: Sheridan Road Advisors.
Broker-dealer: LPL Financial.
Bukaty Companies Financial Services$12.2 80
Vincent Morris
President
Overland Park, Kan.
(913) 647-3968
vmorris@bukaty.com
Affiliation.
RIA: Resources Investment Advisors Inc.
Broker-dealer: Triad Advisors Inc.
Retirement Benefits Group$10 55
Gary Josephs
Partner
Irvine, Calif.
(949) 786-4015, ext. 102
gjosephs@rbgnrp.com
Affiliation.
RIAs: Independent Financial Partners,
LPL Financial's corporate RIA.
Broker-dealer: LPL Financial.
HUB Retirement Services$7 20David Reich
President
San Diego, Calif.
858.373.6939
david.reich@hubinternational.com
Acquisition.

RIA and broker-dealer agnostic. HUB also has its own RIA, HUB International Investment Advisory Services.

Strategic Retirement Partners
$7 27Jeffrey Cullen
Managing partner
Shorewood, Ill.
(888) 202-3927
jeffc@srpretire.com
Affiliation. SRP is owned by its advisers. Advisers may sell their practices, in whole or in part, to SRP at a time of mutual choosing.

RIAs: SRP Advisory Services,
Kestra Advisory Services.
Broker-dealer: Kestra Investment Services.
Cafaro Greenleaf$2.6 6Wayne Greenleaf
Managing Principal
Red Bank, N.J.
(800) 401-4830
wgreenleaf@cafarogreenleaf.com
Acquisition is the firm's primary model.
Secondary models include: Partnership (The firm invests in another RIA's book of business. The plans move under the RIA and revenue is split proportionally. Advisers become investment adviser representatives under Cafaro Greenleaf's RIA); and Solicitor (The firm takes over the plans completely and pays an ongoing solicitor fee to the outside adviser).

RIA: Greenleaf Advisors.
Broker-dealer: American Portfolios Financial Services Inc.

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