SageView Advisory acquires $5B Retirement Benefits Group

SageView Advisory acquires $5B Retirement Benefits Group
The San Diego institutional retirement plan consulting group RBG also has a growing wealth management business.
JUL 19, 2023

SageView Advisory Group, a Newport Beach, California-based registered investment advisory firm, has expanded its growing national footprint with the acquisition of Retirement Benefits Group San Diego.  

RBG San Diego is an institutional retirement plan consulting group with $5.2 billion in assets under advisement and a wealth management business with $63 million in assets under management.

It was founded in 2010 by partners Tony Franchimone and Larry Deatherage and provides retirement plan consulting solutions, executive benefits and retirement management services to U.S. companies.

“We have known Tony and Larry for many years and have great respect for the success they have achieved in working with institutional retirement plans and providing wealth management services," Randy Long, SageView's CEO, said in a statement. "Their team is a great cultural fit for SageView and contributes to our overall and institutional channel growth strategy."

With this latest deal, SageView has announced nine acquisitions in the past two years, since establishing a partnership with Aquiline Capital Partners, a financial services and technology-focused private equity firm.

Terms of the transaction were not disclosed.

AWARD-WINNING DUO

The RBG team has been on the Barron’s list of Top 50 Institutional Consulting Teams five times since 2015 including its recent list.

The SageView acquisition was brokered by M&A advisory firm Wise Rhino Group on behalf of its client RBG.

“Larry and Tony have had one of the most successful institutional retirement consulting practices in the industry,” said Peter Campagna of Wise Rhino Group. “For more than 20 years they have been on the forefront of fiduciary and investment trends working in the mid and large plan market.”

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.