California based RIA firm SageView Advisory Group has announced an acquisition to expand its national footprint and boost its capabilities.
The 36-year-old firm has acquired institutional retirement plan consulting and wealth management business CAP STRAT. Headquartered in Illinois, Capital Strategies Investment Group manages around $25 billion including roughly $750 million in wealth management AUM and more than $24 billion in institutional AUA, built over more than 20 years.
CAP STRAT’s 23 principals, consultants and team members will become part of SageView while its leadership team of Barbara Best, Nancy Rizzuto, Alison Bettonville, Mike Rarey, Michael Warford and Neil Davies will become managing directors.
“The intersection of retirement planning and wealth management continues to become more pronounced as an increasing number of individuals accumulate significant savings in their defined contribution plans,” said SageView CEO John Longley. “Like SageView, CAP STRAT has focused on providing services and solutions in both areas. We are thrilled to have the CAP STRAT team join the SageView family as their expertise complements our own.”
In Chicago, burgeoning firm VestGen Wealth Partners has announced the appointment of its first chief investment officer.
Robert “Bob” Hostetter, CFA, CAIA, was previously the firm’s managing partner of Institutional Client Solutions and has more than a quarter of a century of investment experience including global head of solutions at Russell Investments, global head of product strategy at AllianceBernstein, product manager at William Blair & Company and associate at McKinsey and Company.
He will report to Josh Gerry, Founder and CEO of VestGen.
"Since launching in late 2024, we have expanded our executive leadership team to continue offering our advisors the resources, support and expertise they need to deliver an exceptional client experience,” Gerry said. “Bob’s unique perspective will further elevate VestGen’s investment program and provide our advisors access to high-quality, robust and innovative solutions that exceed their clients’ expectations.”
VestGen’s mission, according to Gerry, is to become the premier destination for advisors looking toward succession.
“Our retiring advisors can trust VestGen’s NextGen advisors to care for their clients and loved ones well into the future,” he told InvestmentNews earlier this year.
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