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.
The agreement marks the end of a four-decade sub-advisory partnership while giving Wellington a scaled distribution platform for financial advisors.
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