OneDigital Investment Advisors, part of strategic advisory firm OneDigital, has bought the assets of executive benefits consultancy Fulcrum Partners.

With the deal, whose financial terms were not revealed. OneDigital expands into the nonqualified deferred compensation plan (NQDC) market.

As a result of the acquisition, the responsibility for advising around $7bn in additional, nonqualified plan assets will be handed over to OneDigital Investment Advisors.

This includes plans sponsored by companies, both publicly and privately held.

Fulcrum chief administrative officer Mike Powers OneDigital emulates its values.

He noted: “Aligning our two organisations creates opportunities to secure our existing business while adding breadth and depth to our go-to-market strategies.

“All of this could be achieved without losing the hands-on approach our clients and partners expect from Fulcrum Partners.”

OneDigital will absorb a total of 17 Fulcrum employees and 12 advisers as part of the deal.

OneDigital Retirement + Wealth president Vince Morris said: “The addition of executive benefits, including nonqualified deferred compensation plans, will provide employers with another tool for addressing their business goals while simultaneously providing their employees with a tool to work toward their own retirement goals.

“Through personalised investment strategies with retirement planning options for key employees, employers will be better positioned to attract and retain key management talent in an employee-centric market.”

Currently, Atlanta-based OneDigital’s advisory services are provided in over 100 offices and an additional 45 retirement wealth offices across the US.

Fulcrum was established in Ponte Vedra Beach, Florida. In addition to Ponte Vedra Beach, the firm currently has a presence in Atlanta, Chicago, Charleston, Columbus, Honolulu, Salt Lake City, Los Angeles, Newport Beach, Orlando, Delray Beach, Portland, and Washington D.C.