OneDigital scoops up Westminster Consulting to expand retirement plan business
OneDigital Investment Advisors acquired Westminster Consulting, OneDigital said in a news release Thursday.
Terms of the deal were not disclosed.
The acquisition of the Rochester, N.Y.-based registered investment adviser firm will add more than 71 retirement plans with $6 billion in plan assets to OneDigital s platform and strengthen OneDigital s retirement and wealth division, the news release said.
As part of the transaction, Westminster partners
Thomas Zamiara and
Sean Patton will join OneDigital as senior vice presidents of retirement services. In addition, the entire Westminster team will join OneDigital in various locations.
OneDigital buys Fulcrum Partners
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OneDigital Investment Advisors has purchased Fulcrum Partners, an executive benefits consultancy that focuses on deferred compensation and supplemental executive retirement plans.
Terms of the deal were not disclosed. The acquisition, which closed Dec. 31, marks OneDigital s entry into the non-qualified deferred compensation plan market, the firm said in a news release Thursday. OneDigital Investment Advisers is a registered investment adviser owned by employee benefits insurance broker OneDigital.
As part of the transaction, the firm will assume responsibility for advising about $7 billion in non-qualified plan assets held by both public and private companies.
Vince Morris, president of OneDigital retirement and wealth, explained the firm s rationale for expanding its services into executive compensation strategies. Our firm is focused upon helping employees of all ages and income levels financially prepare for retirem