OneDigital Investment Advisors has acquired financial planning and retirement plan consulting firm Gouldin & McCarthy, OneDigital announced in a news release Thursday.
Terms of the deal, which closed late in the fourth quarter, were not disclosed.
The acquisition of the Basking Ridge, N.J.-based firm will add 30 retirement plans with 4,300 participants and about $406 million in assets to OneDigital's platform, a spokeswoman said.
The transaction follows a flurry of acquisitions of retirement services-related businesses made by OneDigital last year, including Westminster Consulting, a registered investment adviser firm that bolstered OneDigital's client roster by more than 71 retirement plans with $6 billion in plan assets. Other notable deals included the acquisitions of Fiduciary Plan Advisors, Clearview Advisory and Atlanta Retirement Partners. In total, OneDigital bought 11 retirement plan and wealth management firms last year.
OneDigital Investment Advisors, a subsidiary of insurance broker OneDigital, is a relative newcomer to the retirement plan consulting business. The parent company initiated its push into retirement plan and wealth management services in February 2020 with the purchase of $45 billion RIA firm Resources Investment Advisors and a slew of its affiliated firms, including Bukaty Cos. Financial Services, Cafaro Greenleaf and Chepenik Financial.
As a result of the acquisitions, OneDigital now serves 5,000 retirement plans with more than 1 million participants, the spokeswoman said.
