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February 04, 2020 at 04:23 PM
Resources Investment Advisors, an RIA that works on 2,600 retirement plans with $45 billion in assets, is being bought by OneDigital, a benefits broker.
Atlanta-based OneDigital says the deal includes three advisor teams now with Retirement Benefits Group and Fulcrum Partners and eight advisor practices: Bukaty Companies Financial Services, 401k Advisors Intermountain, Cafaro Greenleaf, Capstone Advisory Group, Chepenik Financial, SHA Retirement Group, Strategic Retirement Group and Teros Advisors.
Fidelity’s 10th annual Plan Sponsor Attitudes study recently found that of the 1,200-plus retirement plan sponsors surveyed, about 93% are working with an advisor vs. 68% in 2010.
According to Resources President Vincent Morris, the Overland, Kansas-based RIA has been looking “to partner with a company that would help us expand upon the solutions we offer … and provide access to growth capital, enabling us to offer both an affiliation and acquisition option to firms looking to join our platform.”
Given the convergence of health, wealth and retirement benefits, OneDigital “gave us the best path forward to continue our superior growth and provide our clients with the optimal holistic solutions,” Morris said.
