OneDigital Investment Advisors has acquired registered investment adviser firm TimeScale Financial, OneDigital announced in a news release Monday.
Terms of the deal were not disclosed.
The acquisition will add 95 plan sponsor clients with $2.2 billion in assets to OneDigital's platform, a spokeswoman said. In addition, OneDigital will gain 950 individual clients with roughly $800 million in assets.
As part of the transaction, TimeScale's entire 19-person team, including its CEO James Horrocks, have joined OneDigital.
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, it 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.
