SageView Advisory Group, a Newport Beach, California-based registered investment adviser which oversees more than $175 billion in pension and plan assets, will acquire Summit Financial Consultants, a Westlake Village, California-based retirement planning firm managing $321 million.
Terms of the acquisition, which is expected to close by July 31, were not disclosed.
The agreement with Summit Financial Consultants is the sixth that SageView has announced since July 2021, and closely follows recent retirement and wealth management acquisitions, SageView said in a press release Tuesday.
Quarterly analysis of retirement accounts highlights positive behavior.
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.
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From direct lending to asset-based finance to commercial real estate debt.
