The acquisition is OneDigital’s sixth strategic wealth management transaction this year. Credit: Scott Graham on Unsplash.

OneDigital Investment Advisors, a subsidiary of financial services firm OneDigital, has acquired KB Financial Partners and KB Financial Advisory Partners (KB).

The acquisition, the company’s sixth strategic wealth management transaction this year, adds $1bn to OneDigital Investment Advisors’ assets under management.

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This raises the company’s total assets under management to over $107.8bn, representing nearly one million participants and 41,000 accounts.

Headquartered in New Jersey, KB is a wealth management, family office and corporate finance advisory firm catering to a wide client base across the US.

The company’s 28-person team includes financial advisors and staffers focused on tax and estate planning, insurance solutions, wealth management, business succession planning as well as corporate advisory services.

OneDigital Retirement + Wealth president Vince Morris said: “KB’s leadership and experienced team have specialties that complement our wealth management capabilities and round out our vision by offering family office, business succession planning, and corporate advisory services.

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“KB’s offering will help our SMB (small and midsize business) owners and corporate executives access corporate advisory services that help them plan and better position their businesses for a future liquidity event.

“KB’s team offers the high-level service that our Ultra High Net Worth (UHNW) clients can experience.”

KB Financial Partners co-CEO James Kaplan said: “Our deep knowledge base and client-first model has helped us drive better outcomes for our clients. “As part of OneDigital, we anticipate leveraging their expertise and expanded capabilities to reach many more, both in our current footprint and beyond.”