Pensionmark is Now World Investment Advisors

Pensionmark Financial Group, a retirement plan and financial advisory firm and division of World Insurance Associates LLC, announced Wednesday that it has rebranded to World Investment Advisors LLC.

The name enhances alignment with the parent company and better represents the firm’s holistic financial services platform for independent financial advisers, according to a statement from the company.

World acquired Pensionmark in March 2022, with the division currently employing 392 certified financial advisers overseeing $55 billion in assets under advisement between its wealth management and institutional segments. The wealth management division has increased its assets under management to $11.5 billion from $1 billion during the past two years.

Troy Hammond, CEO of World Investment Advisors, says the firm has been deliberately building itself into a full-service wealth management enterprise focused on serving fee-based advisers. Additionally, after several key acquisitions and recent improvements to platform capabilities, the firm was ready for a brand that reflected its evolution, he says.

“Our advisers also benefit from the firm’s expertise in retirement plans, risk management and insurance solutions and from the significant, scalable and innovative resources made available through the fast-growing, well-resourced World organization,” Hammond says. “Rebranding to World Investment Advisors announces our value proposition to the marketplace.”

While World Investment Advisors will conduct all future business under the new name, the company’s leadership, employees, office locations and legal documentation will stay the same.

In 2023, World Insurance Associates LLC received a $1 billion capital infusion from the Goldman Sachs Group Inc.’s asset management division. Goldman Sachs Asset Management, through its private equity and hybrid capital teams, joined Charlesbank Capital Partners as co-lead investors to fuel growth plans for the insurance brokerage aggregator, including acquisitions.

“Since making our investment last year, we have been impressed with the accelerated growth of World’s wealth management capabilities, which further enhance the multi-faceted set of client offerings across World’s integrated platform,” said Anthony Arnold, managing director in private equity at Goldman Sachs Asset Management.

“Pensionmark established itself as an industry leader by consistently delivering exceptional client service to its retirement and wealth advisory clients,” said David Katz, managing director at Charlesbank Capital Partners, in a statement. “Now, under the World brand, the business is well positioned to further enhance its reputation and capabilities.”