One Digital Investment Advisors, a subsidiary of OneDigital, an insurance brokerage and HR consulting firm, announced that it acquired JFL Total Wealth Management, a Boonton, New Jersey-based wealth management and retirement plan services firm with $300 million in AUM.
JFL’s president, Jerry Lynch, will join One Digital, as will the firm’s five team members.
"Over the last 25 years, JFL has prided itself on delivering customized financial planning and retirement management services and developing personal relationships with our clients and their families,” Lynch said in a statement. “OneDigital shares the same outlook with their clients and employees. We're very excited to join forces and continue to deliver on our mutual mission to everyone we serve.”
The deal for JFL Total Wealth Management is OneDigital’s seventh purchase of a wealth management firm this year and follows its September purchase of KB Financial Partners and KB Financial Advisors, which are also based in New Jersey.
The transaction boosts One Digital Investment Advisors’ total assets under management to approximately $108.1 billion.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
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
