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 positioned 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 centered on offering wealth administration providers for people and households, in addition to monetary wellness sources and retirement plan consulting providers for plan suppliers and contributors.
Bringing greater than $3.8 billion in belongings below 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(ok) house, they carry extra skills to help our purchasers who supply outlined profit plans,” OneDigital Retirement and Wealth President Vincent Morris stated in an announcement. “The StoneStreet workforce gives a full suite of outlined profit plan administration, de-risking, and pension threat switch providers.”
“We’re thrilled to hitch OneDigital to harness the ability 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 greater than three months after OneDigital introduced its acquisition of Huntington Nationwide Financial institution’s 401(ok) and retirement plan advisory enterprise, together with 18 staff and $5.6 billion in suggested belongings. In March, the corporate added The Clear Group and 401(ok) Assets.
“We are going to proceed to develop our capabilities for these plan sponsors, improve our monetary wellness and recommendation choices and speed up our worth creation for all our stakeholders,” Morris stated in April.
OneDigital affords worker advantages, human sources, retirement and wealth administration consulting, in addition to apply administration help and property and casualty insurance coverage providers to people and enterprise house owners.
Per a latest Kind ADV, the corporate has round 500 staff, together with 380 advisors, overseeing some $89 billion in collective belongings—practically 70% of that are thought-about non-discretionary—throughout greater than 25,000 shopper 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.
