SageView Advisory Group, a Newport Beach, California-based registered investment advisory firm overseeing $176 billion in assets, is acquiring Lakeview Wealth Management, a woman-led RIA firm overseeing $415 million in Deer Park, Illinois.
Terms of the transaction, which is expected to close by Dec. 1, were not disclosed.
The firm's leadership, Judy VanArsdale, and Lisa VanArsdale, will join SageView's wealth management team as managing directors and continue to be the team's financial advisers. Kristy Whitaker, Katie Krettler, Heidi VanArsdale Little and Brooke Little will continue to round out this team.
The metro-Chicago based former LPL Financial affiliate offers retirement and financial planning services, SageView said in a press release.
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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