OneDigital Investment Advisors, a fully-owned subsidiary of insurance brokerage, financial services, and HR consulting firm OneDigital, has acquired financial services company WealthSource Partners.
The financial terms of the deal have not been disclosed.
Established in 2009, WealthSource Partners is engaged in providing extensive financial planning, investment management, and insurance solutions.
OneDigital Investment Advisors is a US Securities and Exchange Commission (SEC)-registered investment adviser (RIA). Through the acquisition, the firm aims to expand its national wealth management presence in nine states in the US.
Besides, the transaction will add about $2bn in wealth management advisory assets to OneDigital’s more than $100bn in assets under management platform.
WealthSource Partners co-founders, CEO Bryan Sullivan, chief financial officer Eric Patton, and chief business development officer Jon Dubravac said: “Together with OneDigital, we are better positioned to serve our clients with an even more comprehensive suite of services, including advanced financial planning tools, robust investment strategies, and a wider network of expertise.
“We share a commitment to excellence, a client-centric approach, and a vision for the future of wealth management.”
Headquartered in Atlanta, US, OneDigital is engaged in helping businesses and individuals to attain their health, success as well as financial security.
The firm’s insurance, financial services and HR platform offer customised and tech-enabled solutions for a contemporary work-life experience.
According to OneDigital, over 75,000 employers and millions of individuals depend on the company’s teams for counsel and access to fully integrated worksite products and services and retirement and wealth management advice. These are offered through OneDigital Investment Advisors.
OneDigital retirement and wealth president Vincent Morris said: “We’re delighted to welcome the WealthSource team and weave their valuable expertise into our robust team of dedicated financial advisers.
“The wealth management industry is highly complex and demanding and, together with WealthSource, we will meet the increasing challenges with our depth of knowledge and mutual desire to put our clients’ needs first.”
