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Deals & People June 3, 2021
M&A Update: Fiduciary Plan Advisors Acquired by OneDigital
As part of the agreement, OneDigital Investment Advisors will assume responsibility for advising approximately $6 billion in assets held by over 200,000 American workers.
Reported by John Manganaro
OneDigital Investment Advisors is continuing its string of high-profile investment adviser purchases with the acquisition of Fiduciary Plan Advisors (FPA).
News of the deal comes about six weeks after OneDigital’s previous acquisition of Westminster Consulting, bringing the firm’s overall acquired assets to $9.3 billion. Par for the course in these deals, FPA’s leadership team and staff will join OneDigital moving forward.
FPA’s retirement focused efforts are led by Jania Stout, who has previously been recognized as a PLANADVISER Retirement Plan Adviser of the year. In addition to her work for FPA, Stout is known in the retirement plan advisory industry for her advocacy work in Washington and for being a frequent speaker at thought leadership conferences.
“With Jania Stout and Chad Wilson at the helm, Fiduciary Plan Advisors have become one of the fastest growing and most well-known retirement plan consulting firms in the country,” says Vince Morris, president of OneDigital Retirement and Wealth. “Fiduciary Plan Advisors’ outlook seamlessly aligns with OneDigital’s mission of converging health, wealth and benefits to create workplaces that help people do their best work and live their best lives.”
Commenting on the deal, Stout says she looks forward to maintaining her firm’s “people-first culture and business outlook” as it works to become part of OneDigital.
“Maintaining this outlook was important to Chad and I and factored heavily in our decision to join OneDigital, as they emphasize the same outlook with their employees and clients,” she explains.
With the FPA acquisition, OneDigital’s advisory services and solutions are now offered to around 5,000 retirement plans and approximately 900,000 participants.