OneDigital Investment Advisors is continuing to solidify its position in the retirement plan advisory market with another significant acquisition.
Though its subsidiary OneDigital Investment Advisors, the insurance brokerage, financial services, and HR consulting firm has entered into a strategic partnership with Wintrust Investments to acquire the latter’s retirement benefits advisors division.
The move is expected to extend OneDigital's influence in the retirement planning sector, particularly in the Chicago area, where both companies have established operations.
The acquisition is aimed at enhancing the retirement plan servicing business for both entities, bringing together OneDigital's comprehensive advisory services with Wintrust's client base and market presence.
“We are delighted that Wintrust Retirement Benefits Advisors has chosen to unite with OneDigital,” Vincent Morris, president of retirement and wealth at OneDigital, said in a statement. “The decision to align our strengths underscores a shared commitment to providing holistic, customized retirement planning and solutions that elevate client outcomes.”
Once completed, the deal will integrate over $2.6 billion in retirement plan assets into OneDigital’s already hefty portfolio of more than $100 billion, including management advisory accounts associated with retirement plan assets for over 40,000 participants across more than 200 client sponsors.
The strategic relationship also includes an ongoing referral partnership between OneDigital and Wintrust, aimed at driving additional scale and capabilities to benefit Wintrust's clients who sponsor workplace retirement savings plans.
The Wintrust retirement benefits advisors team, led by Dan Peluse, will continue to assist clients under the larger umbrella of OneDigital, joining forces with OneDigital’s existing teams to offer a broader set of resources.
“This deal will enable us to increase the value we can create for our clients through better purchasing power with both plan administrators and investment management firms and an expanded service offering beyond fiduciary plan consulting,” said Tom Zidar, chairman and CEO of Wintrust Wealth Management.
OneDigital’s Thursday announcement of its Wintrust acquisition comes several weeks after another deal with RIA WealthSource Partners, which will see $2 billion across nine states added to OneDigital’s book.
More recently, it made its debut in the property and casualty insurance space by snapping up St. Louis-based HM Employee Benefits and Risk Management.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
