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.
For RPAs thinking about selling, there may be no time like the present
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers. That makes the present a very good time to consider becoming part of a larger firm.
April 1, 2021 4 MINS
For successful retirement plan advisers who are experiencing rapid growth, selling the business might be the last thing on their minds but that could be a mistake, said guests at Wednesday’s RPA Valuation Workshop.
Over the past several years, the pace of dealmaking has accelerated, and valuations for desirable RPAs have climbed to earnings multiples that not long ago would have stunned buyers and sellers.
A succinct roundup of the major M&A announcements for the first week of February.
January was another record deal for mergers and acquisitions, according to DeVoe & Company’s RIA Deal Book Alert for January. There were 29 total transactions, nearly double January 2020’s figures.
Below are more deals along with firm-to-firm advisor moves announced for this week:
Tiger Blackwell Joins LPL Financial from Stifel, Nicolaus & Company
Tiger Blackwell, founder of Blackwell Money Management in Baton Rouge, La., managed approximately $100 million at Stifel before moving to LPL’s newly launched independent employee model.
J.P. Morgan Loses Executive Director Dixon Hayes to Simon Quick Advisors
Hub International acquires Alpha Pension Group
Insurance broker Hub International acquired Alpha Pension Group, a Boston-based registered investment adviser firm, Hub said Wednesday.
Terms of the deal were not disclosed.
Alpha Pension Group serves 572 retirement plan sponsor clients with some $2.9 billion in assets under management. The firm provides investment analytics, fiduciary governance, and guidance to corporations and nonprofits on retirement planning.
Shawn McLaughlin, president and CEO of Hub New England, said in a new release that Alpha Pension Group s expertise will benefit Hub s New England clients as they continue to seek more transparency and personalized retirement service offerings.
Alpha Pension Group s president and CEO, Rich Cawthorne, and its CFO, Mark Salamone, will join Hub New England.
Hub International Acquires Massachusetts’ Alpha Pension Group January 14, 2021
Hub International Limited (Hub), a full-service global insurance broker, has acquired Alpha Pension Group Inc. Terms of the transaction were not disclosed.
Headquartered in Boston, Mass., Alpha Pension Group is a retirement consulting firm that provides investment analytics, fiduciary governance and guidance to corporations and nonprofits on retirement planning. Alpha Pension Group was represented by the consulting firm Wise Rhino Group for the transaction.
Following the transaction, Alpha Pension Group President and CEO Rich Cawthorne Chief Financial Officer Mark Salamone will join Hub New England.
This move continues to strengthen Hub’s retirement and wealth management services with the addition of talent and resources to develop more comprehensive strategies for clients. Hub Retirement and Private Wealth (RPW) works to help plan sponsors create an offering th