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OneDigital Acquires $7B in Nonqualified Plan Assets

By Alex Padalka February 1, 2021

OneDigital Investment Advisors, the RIA subsidiary of OneDigital, says it has acquired the assets of Fulcrum Partners.

The acquisition marks OneDigital’s foray into the nonqualified deferred compensation plan market, the company says. As part of the deal, OneDigital will take over advising on around $7 billion in additional, nonqualified plan assets, including plans sponsored by publicly and privately held companies who had been Fulcrum’s clients for years, OneDigital says.

The companies didn’t disclose the financial terms of the deal.

Founded in Ponte Vedra Beach, Fla., in 2007, Fulcrum has a team of consultants covering executive compensation and benefits consulting, offering design, financing and plan administration of executive benefits programs, OneDigital says.

“The data shows American workers at all income levels are not saving enough for retirement,” Vince Morris, president of OneDigital Retirement + Wealth, says in a statement. “This includes owners and executives of companies that sponsor traditional retirement plans because highly-compensated employees are capped at what they can contribute to a 401(k) account. Therefore, we are excited to expand our holistic benefits offerings to include executive compensation strategies.”

Seventeen employees and 12 advisors are joining OneDigital from Fulcrum, the company says.

Fulcrum is at least the second acquisition for OneDigital so far this year. Last month, OneDigital announced that it acquired the retirement plan-focused wealth management practice Vertical Financial Group, which OneDigital said would bring the firm $1.2 billion in retirement plan and individual household assets.

Atlanta-based OneDigital now has over 100 offices and more than 2,400 “business strategists” serving over 60,000 employers around the nation, the company says.

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