Alera Group, a Deerfield, Illinois-based insurance and wealth management firm, has acquired DFG 401(k) Advisors, a Phoenix-based retirement plan firm advising on $500 million in plan assets.
Terms of the transaction were not disclosed. Wise Rhino Group served as an adviser to DFG.
CFG is joining Alera through the company’s Benefit Commerce Group and will now operate as BCG 401(k) Advisors.
Alera was formed in 2017, when 24 employee benefit firms combined with the backing of private equity firm Genstar Capital. Since then, Alera has completed more than 150 acquisitions across its other three divisions.
The 140-year-old firm catering to ultra-high-net-worth clients joins a growing roster of wealth managers and tech providers plugging Claude into advisor workflows.
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