SageView picks up $400M AUA firm to expand East Coast presence

A retirement plan consultancy has been acquired by independent RIA firm SageView Advisory Group to expand its presence on the East Coast.

OnTrack 401(k), based in Frederick, Maryland, was co-founded by Doug O’Rear to help financial institutions navigate the design of retirement plans, fee structure, and investment selections and has grown to $400 million assets under advisement and a client base of more than 90 institutions.

O’Rear started his financial services career with MassMutual and has joined SageView as managing director while team member Cindy Brown has joined as a retirement plan consultant.

“SageView is renowned for its strength in retirement planning and I’m thrilled to be part of the firm,” Brown said. “I became a financial advisor because I wanted to improve retirement outcomes. At SageView, I can leverage the firm’s resources to provide scale and efficiency to plan sponsors and access the firm’s comprehensive financial wellness program to empower plan participants.”

The acquisition marks a second Maryland location for SageView which now has more than 30 offices in 21 states.

“More companies than ever before offer retirement plans to compete for the best talent in a tight labor market, so it’s important to deliver financial security during an employee’s working years and beyond,” said Steve Gaven, SageView’s chief growth officer. “For decades, SageView has worked closely with plan sponsors to deliver best-in-class support and service to drive value for their participants. We know the experience and insights Doug and his team can provide will help our institutional clients grow. We are excited to welcome him to our firm.”