Former Carson Group Holdings chief investment officer Saumen Chattopadhyay has been hired by OneDigital, the latter RIA announced today.
Chattopadhyay, who started in the position at Overland Park, Kansas-based OneDigital on Monday, leads economic forecasting, investment selection for retirement plans and managing the company’s line of Resources collective investment trusts. He also chairs the RIA’s investment committee and oversees investments for the defined-benefit plan, endowment, foundation and wealth advisory businesses.
Chattopadhyay fills a role that had been vacant since former OneDigital CIO Jamie Battmer left the company in March for a job at Lockton Retirement Services. At Omaha, Nebraska-based Carson Group, Chattopadhyay led a team of 14 that managed a $20 billion investment unit.
“Investment management has become commoditized,” Chattopadhyay said. “The wealth management industry and the overall asset management industry has evolved. Ten years ago, people were not talking about differentiation.”
OneDigital established its presence in the retirement plan and wealth business in early 2020 with the acquisition of then-$45 billion RIA Resources. Since then, the insurance broker has rapidly been buying up other firms in that area, having made 27 subsequence acquisitions, including its deal in June for Fiduciary Plan Advisors.
The company has about 5,000 retirement plan clients. Last month, it launched a retirement plan option for small businesses, those with 100 employees or fewer. In its larger employer benefits and human resources business, the company has more than 85,000 clients.
In his 25-year career in financial services, Chattopadhyay has observed about 1,000 U.S. managers and will strengthen the company’s due-diligence and asset-allocation capabilities, he noted.
“We had really looked for someone who had experience in multiple business lines on the investment side,” said Vince Morris, president of OneDigital’s retirement and wealth division.
The firm is expecting major growth in its wealth management advisory business, he noted.
“We need someone with Saumen’s expertise,” he said. “This is a major add for our capabilities.”
As Robinhood and Schwab roll out AI agents and assistants, a new survey finds advisors still edge out chatbots in terms of client trust.
See which platforms and providers earned 5-Star recognition this year
Meanwhile, a multigenerational Cambridge team has hopped to LPL in Michigan, and Cetera's run of Commonwealth recruitment continues in New Jersey.
TIAA survey finds 53% of Americans worry about running out of money, as AI and medical advances scramble retirement income planning.
Two wirehouse veterans choose advisor-owned model as independents target ultra-high-net-worth clients beyond portfolio management.
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
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
