SageView Advisory Group, a Newport Beach, California-based registered investment advisory firm, has expanded its growing national footprint with the acquisition of Retirement Benefits Group San Diego.
RBG San Diego is an institutional retirement plan consulting group with $5.2 billion in assets under advisement and a wealth management business with $63 million in assets under management.
It was founded in 2010 by partners Tony Franchimone and Larry Deatherage and provides retirement plan consulting solutions, executive benefits and retirement management services to U.S. companies.
“We have known Tony and Larry for many years and have great respect for the success they have achieved in working with institutional retirement plans and providing wealth management services," Randy Long, SageView's CEO, said in a statement. "Their team is a great cultural fit for SageView and contributes to our overall and institutional channel growth strategy."
With this latest deal, SageView has announced nine acquisitions in the past two years, since establishing a partnership with Aquiline Capital Partners, a financial services and technology-focused private equity firm.
Terms of the transaction were not disclosed.
The RBG team has been on the Barron’s list of Top 50 Institutional Consulting Teams five times since 2015 including its recent list.
The SageView acquisition was brokered by M&A advisory firm Wise Rhino Group on behalf of its client RBG.
“Larry and Tony have had one of the most successful institutional retirement consulting practices in the industry,” said Peter Campagna of Wise Rhino Group. “For more than 20 years they have been on the forefront of fiduciary and investment trends working in the mid and large plan market.”
A Nationwide survey finds 47% of GLP-1 users have never discussed the drugs’ financial impact with an advisor, even as many dip into savings.
The hundreds of millions of dollars from a sale of Inspired Healthcare properties does not mean an immediate windfall for investors.
Its SEC filings said one thing - a congressional probe said another.
Sham agreements allegedly padded revenue by 345%.
"Most pre-retirees are uncomfortable making key retirement income decisions without an advisor's help," said Chris Bailey of Cerulli.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
