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.

0
Comments

What do you think?

View comments

Most watched

Events

Jim Crowley, a new sheriff in town?

BNY Mellon Pershing's new CEO as of July 1st, Jim Crowley, discusses his vision for the future of the company.

INTV

How the 2020 elections could impact ESG investing

Joseph Keefe, president of Impax Asset Management, on the elections and how advisers can build a bridge to the next generation of clients with ESG investing.

Latest news & opinion

Departure of Alexander Acosta could slow DOL effort to revise fiduciary rule

Acting secretary Patrick Pizzella will have to make political decision to move ahead.

SEC member Peirce to brokers: Talk to us early, often about Reg BI implementation problems

She's willing to advocate for additional compliance time if firms have made a good faith effort.

Hub in talks to buy $40 billion LPL branch Global Retirement Partners

GRP, an LPL super-OSJ, would represent the latest in a flurry of acquisitions for Hub.

David Lerner Associates' financial condition deteriorates

Firm reported 'negative net worth' of $17 million last year in recent SEC filing.

Why healthy clients need to save more for retirement

Tax-free health savings accounts, Roth IRAs, insurance and annuities can help cover retirees' future health-care costs.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print