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.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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