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
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Fulcrum Partners Announces Strategic Acquisition by OneDigital
Fulcrum Partners, LLCJanuary 28, 2021 GMT
PONTE VEDRA BEACH, Fla., Jan. 28, 2021 (GLOBE NEWSWIRE) Fulcrum Partners, one of the nation’s leading and largest executive benefits advisories, announces it has been purchased by OneDigital Investment Advisors in a strategic acquisition. OneDigital Investment Advisors, a registered investment advisor and a wholly owned subsidiary of OneDigital, is one of the nation’s leading strategic advisory firms. Focused on streamlining benefits solutions for employers of all sizes, OneDigital pursued the acquisition of Fulcrum Partners as part of its expansion into the nonqualified deferred compensation plan market.
Banks can provide an opportunity for RPAs
As several recent deals show, such as OneDigital s purchase of Truist s RPA business, banks offer retirement plan advisers a chance to grow their business.
January 25, 2021 2 MINS
OneDigital’s recent acquisition of Truist Financial’s retirement advisory practice raises the question of whether banks offer an opportunity for retirement plan advisers to grow their business, just as they have for record-keeper outsourcers like Empower Retirement and Ascensus.
For Vince Morris, president of OneDigital’s retirement and wealth practice, there was the obvious opportunity to acquire more $10 billion in assets, 1,200 plans and 24 team members. But there is also the chance to cross-sell.
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