The acquisition expands OneDigital’s advisory services and solutions to over 100 offices in the US. Credit: Gerd Altmann from Pixabay.

OneDigital Investment Advisors has acquired Praxis Consulting, a California-based retirement plan consulting firm.

Financial terms of the deal have not been disclosed.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Praxis specialises in corporate retirement plan consulting and investment management. It also provides a range of plan consultation services to support plan administration.

Under the terms of the transaction, the Praxis team will join OneDigital’s Retirement and Wealth division in adjacent roles.

Praxis managing principal Mark Ray will take up the role of senior vice president at OneDigital’s  Retirement Services business.

Ray will continue to manage Praxis’ $240m in plan assets and $110m under management in the personal advisory market.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Commenting on the deal, Ray said: “OneDigital has developed a unique culture that prioritises its employees and clients with equal commitment to success that reflects who we are and our approach to doing business.

“This partnership also deepens the breadth of services to support our client’s overall business with integrated employee benefits and HR consulting.”

The acquisition expands OneDigital’s advisory services and solutions to over 100 offices in the US. It also adds an additional 60 retirement and wealth offices in the country.

OneDigital Retirement + Wealth president Vince Morris commented: “Mark is a great adviser who fits in well with our team and this partnership is a win-win for both OneDigital and Praxis.

“He was looking for a way to grow his business while also having time to focus on helping his clients. Together we will be able to help Mark and his team do just that.”

In June this year, OneDigital acquired retirement and wealth consultancy Fiduciary Plan Advisors, adding 6bn in assets under advisement to its books.

It followed the firm’s takeover of executive benefits consultancy Fulcrum Partners.