Acquisition Is Company’s First Expansion into Retirement and Wealth Management Vertical, Providing Holistic Benefits Support
February 04, 2020 08:00 AM Eastern Standard Time
ATLANTA--(BUSINESS WIRE)--OneDigital, the nation’s leading strategic advisory firm focused on driving business growth for employers of all sizes, has acquired Resources Investment Advisors, LLC (“Resources”) located in Overland Park, Kansas. The acquisition represents the largest assemblage of deals in the company’s history–13 in all–and is the first to bring retirement plan consulting and wealth together with healthcare benefits under the OneDigital brand. The addition of Resources is a significant milestone in OneDigital's growth as Resources will provide key services to help employers integrate cost-effective benefits that focus on overall employee wellbeing through financial wellness and participant advising.
“As we enter this next chapter, we see Resources and their affiliate companies as an important and strategic expansion of our services. It’s clear that taking a holistic approach to employee benefits, retirement planning and wealth management is at the forefront of our client’s needs and their employees’ wellbeing.”
“Rising healthcare costs and saving adequately for retirement are two of the most pressing financial issues facing Americans–regardless of income level–today. It makes sense to bring them together, as we see a future convergence of health, wealth and retirement as a holistic solution,” said Mike Sullivan, co-founder and chief growth officer at OneDigital. “We are going to be different than the traditional benefits consulting firms that offer 401k plans: in adding Resources, we’re building an integrated approach to wellbeing, integrating healthcare and retirement planning so that employers can better support individuals and families. By bringing economic balance to our offering, insurance and retirement economics are not competing with each other in the future.”
“Over the past 20 years, our singular focus has been to help our customers achieve business growth and advise them in providing the best possible employee benefits solutions for their employees,” said Adam Bruckman, president and chief executive officer at OneDigital. “As we enter this next chapter, we see Resources and their affiliate companies as an important and strategic expansion of our services. It’s clear that taking a holistic approach to employee benefits, retirement planning and wealth management is at the forefront of our client’s needs and their employees’ wellbeing.”
Founded in 1987, Resources is an SEC-registered investment advisory ﬁrm that helps employers build and implement a retirement plan that meets the needs of their organization and employees. Resources offers retirement plan sponsors a consistent investment process to enhance employee retirement readiness, while also helping organizations ease the administrative burdens associated with managing retirement plans. Currently, Resources provides advice to 2,600 employer-sponsored retirement plans and a total of $45 Billion in assets under management.
“For the past few years, we have been looking to partner with a company that would help us expand upon the solutions we offer our customers and provide access to growth capital, enabling us to offer both an affiliation and acquisition option to firms looking to join our platform,” said Vincent Morris, president at Resources. “From our first conversation with OneDigital, it was apparent that in addition to their benefits expertise and well-established national scale, their corporate culture, growth strategy and convergence of health, wealth and retirement benefits gave us the best path forward to continue our superior growth and provide our clients with the optimal holistic solutions.”
OneDigital is now the first employee benefits and retirement-only broker in the small and medium-sized business space to integrate both types of benefits together under a single brand. The initial collection of deals, in addition to Resources as the integrated platform provider, includes the following advisor practices: Bukaty Companies Financial Services, 401k AIM, Cafaro Greenleaf, Capstone Advisory Group, Chepenik Financial, SHA Retirement Group, Strategic Retirement Group and Teros Advisors. The deal also includes three advisor teams of Retirement Benefits Group and Fulcrum Partners in Newport Beach, CA, which will be leading the non-qualified retirement planning division. Charleston, S.C.-based M&A consulting firm Wise Rhino Group advised OneDigital and Resources in the transaction.
OneDigital is the nation’s leading strategic advisory firm focused on driving business growth for employers of all sizes. Combining people and technology, OneDigital offers employers a sophisticated combination of strategic benefit advisory services, analytics, compliance support, human resources management tools and comprehensive insurance offerings. Headquartered in Atlanta, OneDigital's more than 2,000 employee benefits and human resource strategists serve the needs of over 50,000 employers across the nation. OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 12 companies to do so. Currently listed as 18th on Business Insurance’s 2019 list of 100 Largest U.S. Brokers, OneDigital’s experience offers a fresh thinking and strategic perspective that will improve all aspects of plan design and performance.
About Resources Investment Advisors, LLC
Founded in 1987, Resources Investment Advisors, LLC ("Resources") encompasses an independent hybrid registered investment adviser (RIA) firm registered with the SEC, as well as a Super-OSJ group, that specializes in supporting independent financial advisors across the country who are focused on the corporate retirement plan space. Resources delivers industry-leading growth platforms, tools, technology and education to its community of affiliated independent financial advisor businesses, each of which are independently managed, while also connected through shared ideas, values and best practices in client service. In 2017, Resources was named the Fastest Growing RIA in the country by WealthManagement.com. For more information, please visit www.riaadvisor.com.
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