Advisory M&A

OneDigital Acquires 401K Resources, Clear Group  

OneDigital announced the acquisitions of 401K Resources and The Clear Group.  

A OneDigital Investment Advisors affiliate for more than three years, Scottsdale, Arizona-based 401K Resources designs retirement plans to help organizations achieve their overarching total rewards program objectives. Similarly, Florham Park, New Jersey-based Clear Group provides employee benefits solutions, retirement planning, human resources consulting and personal and business property and casualty solutions.  

The acquisitions will enhance the available resources and support for the clients of the Clear Group and 401K Resources, while adding the latter will establish OneDigital’s presence in Arizona. 

“[401K Resources’] powerful combination of integrated Employee Benefits and Retirement (401K) consulting model for clients fits squarely into OneDigital’s value proposition. Under their leadership, I am confident that Arizona will be one of our fastest growing markets in the country,” said Jeff Fallick, regional managing principal for OneDigital’s West region, in a statement. 

Sanctuary Wealth Introduces Iterhic Wealth Advisors as Partner Firm 

Iterhic Wealth Advisors and its founder, Matt Terwilliger, have joined Sanctuary Wealth. 

Terwilliger and his staff bring $170 million in client assets under advisement to Sanctuary. Based in Dublin, Ohio, Iterhic Wealth Advisors is the third wirehouse breakaway firm from Ohio to join Sanctuary in 2023. 

Iterhic provides comprehensive wealth management services to individuals and families. The firm focuses on planning strategies for first first-generation business owners, executives with significant equity and deferred compensation, as well as professional athletes. Terwilliger played three years of professional basketball and played on Ohio State University’s team that reached the 2007 NCAA Final Four. 

“Sanctuary understands what the next generation of advisers are looking for to serve their clients and ha[s] built their platform around those needs,” said Terwilliger in a statement. “I’m excited to start the next chapter of my career as an independent adviser with a firm that thoroughly understands and fully embraces the unique needs of wirehouse advisers going independent.”  

Heller Private Wealth Launches Wealth Management Practice 

Heller Private Wealth LLC announced its launch as a registered investment adviser. The firm was founded by Justin Heller, formerly a vice president at Merrill Lynch, and Eric Win, also formerly of Merrill Lynch. 

“The COVID-19 pandemic allowed me to take a step back and evaluate the different wealth management models,” Heller said in a statement. “After a couple of years of research and many conversations with industry professionals from different financial institutions, I found that the independent Registered Investment Adviser model was best for my clients. Today, the best technologies, innovations, and service providers are focused on the Registered Investment Adviser segment, positioning us to give our clients the most modern approach to wealth management.” 

Heller and Win met as part of the University of Miami’s men’s basketball program. The Fort Lauderdale, Florida-based firm selected Charles Schwab & Co. Inc. to provide custodial services. Schwab will provide Heller Private Wealth with back-office support and custody of client assets.  

Hilb Group Adds Agencies in Texas, Minnesota, New Jersey 

The Hilb Group LLC announced that it has acquired agencies in Texas, Minnesota and New Jersey. The agencies specialize in benefits enrollment and administration. The three transactions became effective on February 1.