OneDigital Funding Advisors, a registered funding advisory agency owned by multi-faceted monetary providers firm OneDigital, has acquired a retirement plan consulting and wealth administration enterprise situated north of New York Metropolis on the southwest tip of the Connecticut border.
Based in 1981 by Principal Robert Goldstein, StoneStreet Fairness is a flat-fee, fiduciary agency targeted on offering wealth administration providers for people and households, in addition to monetary wellness assets and retirement plan consulting providers for plan suppliers and individuals.
Bringing greater than $3.8 billion in belongings underneath advisement to the OneDigital platform, Goldstein is joined by his kids and agency executives, CIO Spencer Goldstein and Managing Companion Heidi Sidley, each additionally principals in the agency.
Previous to the acquisition, StoneStreet was affiliated with OneDigital Funding Advisors’ partnership platform for about 4 years, following seven with Unbiased Monetary Advisors and LPL Monetary, based on an SEC submitting.
“Past their nice success within the conventional 401(okay) house, they carry further skills to assist our purchasers who provide outlined profit plans,” OneDigital Retirement and Wealth President Vincent Morris mentioned in an announcement. “The StoneStreet workforce offers a full suite of outlined profit plan administration, de-risking, and pension threat switch providers.”
“We’re thrilled to hitch OneDigital to harness the facility of partnering our specialization in pension threat switch and outlined profit plans with OneDigital’s experience and nationwide attain within the retirement and wealth business,” added Sidley.
The announcement comes a bit of greater than three months after OneDigital introduced its acquisition of Huntington Nationwide Financial institution’s 401(okay) and retirement plan advisory enterprise, together with 18 workers and $5.6 billion in suggested belongings. In March, the corporate added The Clear Group and 401(okay) Sources.
“We are going to proceed to broaden our capabilities for these plan sponsors, improve our monetary wellness and recommendation choices and speed up our price creation for all our stakeholders,” Morris mentioned in April.
OneDigital provides worker advantages, human assets, retirement and wealth administration consulting, in addition to observe administration assist and property and casualty insurance coverage providers to people and enterprise homeowners.
Per a latest Type ADV, the corporate has round 500 workers, together with 380 advisors, overseeing some $89 billion in collective belongings—practically 70% of that are thought of non-discretionary—throughout greater than 25,000 consumer accounts. Amongst these purchasers are greater than 4,800 pension and profit-sharing plans with some $72.2 billion in belongings, about 100 authorities entities (together with authorities pension plans) with round $3.8 billion and simply over 1,000 plan participant accounts with greater than $1 billion in collective belongings.
Sensible Rhino Group represented StoneStreet within the transaction, particulars of which weren’t disclosed.
