Top adviser aggregators focused on defined-contribution retirement plans
Retirement plan advisers interested in aggregator firms need to consider the differences.
| Firm | Total DC assets ($B) overseen by network advisers |
No. of DC advisers** | Primary contact | Business model |
|---|---|---|---|---|
| CAPTRUST*** | $221 | 95 | Rick Shoff Managing Director, Advisor Group Raleigh, N.C. (215) 499-3361 [email protected] |
Acquisition. RIA: Captrust Financial Advisors. Broker-dealer: CapFinancial Securities. |
| NFP | $133 | 100 | Nick Della Vedova President, NFP Retirement Aliso Viejo, CA 949-460-9898 Ext. 246 [email protected] |
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* | 51 | Randy Long Managing principal Irvine, Calif. (949) 955-5787 [email protected] |
Acquisition. RIA: SageView Advisory Group. Broker-dealer: Cetera Advisor Networks. |
| GRP Financial | $74 | 312 | Geoff White Managing partner Carlsbad, Calif. (949)-359-0031 [email protected] |
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 | 29 | Pam Popp President Kansas City, Mo. (816) 960-9603 [email protected] |
Acquisition. RIA: Lockton Investment Advisors. Broker-dealer: Lockton Financial Advisors. |
| Arthur J. Gallagher & Co. | $55 | 64 | Dean Clune National sales manager, retirement plan consulting Rolling Meadows, Ill. 312-803-6376 [email protected] |
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 | 105 | Troy Hammond President and CEO Santa Barbara, Calif. (805) 456-6262 [email protected] |
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 [email protected] |
Acquisition. RIA: USI Advisors Inc. Broker-dealer: USI Securities Inc. |
| CBIZ Retirement Plan Services | $15 | 34 | Brian Dean President Cleveland, Ohio 216-520-6178 [email protected] |
Acquisition. RIAs: CBIZ Financial Solutions Inc., CBIZ Investment Advisory Services. Broker-dealer: CBIZ Financial Solutions Inc. |
| Sheridan Road Financial | $13.5 | 20 | Northbrook, Ill. (312) 259-9097 [email protected] |
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 [email protected] |
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 [email protected] |
Affiliation. RIAs: Independent Financial Partners, LPL Financial’s corporate RIA. Broker-dealer: LPL Financial. |
| HUB Retirement Services | $7 | 20 | David Reich President San Diego, Calif. 858.373.6939 [email protected] |
Acquisition. RIA and broker-dealer agnostic. HUB also has its own RIA, HUB International Investment Advisory Services. |
| Strategic Retirement Partners | $7 | 27 | Jeffrey Cullen Managing partner Shorewood, Ill. (888) 202-3927 [email protected] |
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 | 6 | Wayne Greenleaf Managing Principal Red Bank, N.J. (800) 401-4830 [email protected] |
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. |
Retirement plan advisers interested in aggregator firms need to consider the differences.
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