OneDigital Investment Advisors has acquired WealthSource Partners, a San Luis Obispo, California-based RIA that oversees $2 billion in client assets, the firm announced Wednesday.
WealthSource Partners has 44 employees who serve the firm’s more than 2,500 client families from locations in nine states: California, Arizona, Utah, Colorado, Oklahoma, Texas, Ohio, Tennessee and Florida.
The firm began in 2009 with the merger of Vellum Financial, founded by Bryan Sullivan, and Avant-Garde Advisors, founded by Eric Patton and Jon Dubravac. Sullivan is WealthSource's CEO, while Patton is CFO and Dubravac is chief business development officers.
In a statement, the executives cited OneDigital’s “more comprehensive suite of services, including advanced financial planning tools, robust investment strategies, and a wider network of expertise.”
“We’re delighted to welcome the WealthSource team and weave their valuable expertise into our robust team of dedicated financial advisers,” Vincent Morris, president of retirement and wealth at OneDigital, said in the statement. “Together with WealthSource, we will meet the increasing challenges with our depth of knowledge and mutual desire to put our clients’ needs first.”
OneDigital Investment Advisors is a unit of OneDigital, a leading insurance brokerage, financial services and HR consulting firm with more than $100 billion in AUM.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
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
