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.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
