SageView Advisory Group has announced some leadership changes that see founder Randy Long appointed as chairman of the board and John Longley joining the firm as CEO.
The changes are effective from Sept. 1 and reflect a new phase in the RIA firm’s growth which continue its expansion in both wealth management and retirement plan advisory services.
Randy Long founded the firm three decades ago and has overseen its growth to a firm advising on more than 2,100 defined-contribution, defined-benefit and deferred compensation retirement plans, representing approximately 1.7 million participants with $170 billion in assets; and providing wealth management and financial planning serving around $4 billion in client assets.
In 2020, the firm partnered with private investment firm Aquiline Capital Partners to accelerate SageView’s expansion which has included the acquisition of nine firms since the partnership began, including San Diego retirement plan consulting group RBG last month.
"Since our launch 30 years ago, SageView has been driven by a passion for creating financially secure and fulfilling lives for individuals and households across the country,” said Long. “SageView has grown to be one of the nation’s top institutional retirement plan advisory firms, serving 2,000 plan sponsors as the fiduciary partner of choice to navigate the industry’s complexities.”
John Longley’s appointment as CEO comes after a selection process over several months. He comes with an impressive resume including his most recent role as president of SVB Private, a division of First Citizens Bank & Trust Co. having been promoted from head of SVB Private's private bank, wealth and trust unit.
“This is the ideal time for me to join SageView as CEO and continue the firm’s tremendous success experienced under Randy’s leadership. I am confident of our ability to accelerate growth as we launch the next phase of our long-term vision,” said Longley. “In the course of exploring future opportunities, SageView stood out in three areas that provide the firm with unique advantages.”
Earlier in his career, he served as the head of private wealth at BlackRock/iShares and CEO of Citi Private Bank at Citigroup.
“By bringing John aboard while transitioning to the role of chairman of the board, I will be able to fully focus on strategy setting and growth planning for SageView over the long term, while partnering closely with John to ensure that our future success honors all that we have accomplished until now,” added Long.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
