SageView Advisory Group, a Newport Beach, California-based registered investment adviser managing $4 billion and advising on $170 billion in retirement assets, has acquired kPlans Investment Services of Valencia, California, which advises on $825 million.
Financial terms weren't disclosed.
kPlans was founded in 2005 and was previously known as Pensionmark LA. The firm offers retirement plan consulting with a focus on defined-benefit and cash balance plans, as well as a growing wealth practice, SageView said in a press release Wednesday.
Firm founder Steve Sansone will become a managing director of SageView.
kPlans is the fifth firm to join SageView since the launch of its mergers and acquisition growth strategy, SageView said.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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
