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June 9, 2022

SageView acquires kPlans Investment Services

SageView Advisory Group has acquired California-based retirement and wealth management firm kPlans Investment Services.

Financial terms of the deal were not divulged.

Founded by Steve Sansone in 2005, kPlans specialises in retirement plan consulting with a focus on defined benefit and cash balance plans. The firm, which is also said to have a growing wealth practice, adds $825m assets under advisement (AUA) to SageView.

kPlans is the fifth firm to join SageView since July 2021.

Commenting on the deal, SageView founder and CEO Randy Long said: “The addition of the kPlans team bolsters our industry-leading retirement practice during a period of significant growth and expansion for our entire company. We look forward to fostering the team’s continued success in delivering outstanding results to their clients.”

The acquisition forms part of SageView’s M&A growth strategy launched in partnership with private equity firm Aquiline Capital Partners.

The firm aims to become a comprehensive financial planning provider at the intersection of wealth management and retirement for individuals and families in the US.

Sansone noted: “The industry is clearly moving towards the intersection of retirement and wealth. SageView not only has the vision and the tools to effectuate positive change in this new paradigm but also the actual and intellectual capital to make a substantial impact in the lives of our clients and their employees.”

As agreed, Sansone will join SageView as a managing director.

SageView president and retirement practice lead Jon Upham said: “We are thrilled to have Steve and kPlans join our family and help SageView expand our reach in the defined benefit and Cash Balance space, as well as continue to deliver exceptional service to its clients.”

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