Strategic advisory firm OneDigital has continued its acquisition spree with the takeover of retirement and wealth consultancy Fiduciary Plan Advisors (FPA).
The company announced that its wholly-owned subsidiary and an SEC-registered investment advisor OneDigital Investment Advisors purchased the assets of FPA.
The financial details of the transaction were not divulged.
Founded in 2014, FPA helps plan sponsors manage their retirement plans. The FPA team is said to serve more than 200,000 Americans.
The deal will add around $6bn in assets under advisement to OneDigital Investment Advisors’ books. Nine FPA employees have also joined OneDigital.
OneDigital Retirement + Wealth president Vince Morris said: “With Jania Stout and Chad Wilson at the helm, Fiduciary Plan Advisors have become one of the fastest growing and most well-known retirement plan consulting firms in the country.
“I really appreciate their passion for servicing retirement plans with the mission of reducing financial stress through financial wellness.
“Fiduciary Plan Advisors’ outlook seamlessly aligns with OneDigital’s mission of converging health, wealth and benefits to create workplaces that help people do their best work and live their best lives and we’re excited to have them join the OneDigital family.”
Jania Stout said: “I’m extremely proud of the successes we have accomplished over the last seven years and I think a key component of that has been our people-first culture and business outlook.
“Maintaining this outlook was important to Chad and I and factored heavily in our decision to join OneDigital as they emphasise the same outlook with their employees and clients.”
OneDigital has completed eight acquisitions this year. In January, the company bought the assets of executive benefits consultancy Fulcrum Partners.