OneDigital Investment Advisors acquired Future Benefits, a retirement plan consulting and wealth management services firm, OneDigital said in a news release Tuesday.
Terms of the deal, which closed April 1, were not disclosed.
The acquisition of the Cheshire, Conn.-based firm will add 63 retirement plans with $379 million in assets to OneDigital's platform, a spokeswoman for OneDigital said.
The transaction follows a flurry of acquisitions of retirement services-related businesses made by OneDigital this year, including Westminster Consulting, a registered investment adviser that brought more than 71 retirement plans with $6 billion in assets to OneDigital's client roster. Other notable deals for OneDigital this year include the acquisition of the institutional 401(k) investment advisory business of financial services firm Truist Financial as well as the acquisition of Fulcrum Partners, an executive benefits consult that focuses on deferred compensation and supplemental executive retirement plans.
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. All told, it bought 21 retirement plan and personal wealth firms last year.