Retirement Industry People Moves

Art by Subin Yang

Investment Adviser Association Enters Partnership With ACA 

The Investment Adviser Association has entered a strategic partnership with ACA Group.

The IAA’s member firms manage more than $25 trillion in assets for a wide variety of individual and institutional clients, including pension plans, trusts, mutual funds, private funds, endowments, foundations and corporations.

Both groups have collaborated previously on the Investment Management Compliance Testing Survey. Each year, the survey takes the pulse of U.S. investment advisers of all types and sizes on hot topics, testing and key challenges for the purpose of reporting on industry trends. 

“The IAA is pleased to amplify our longstanding collaboration with ACA Group,” says IAA President and CEO Karen Barr. “This strategic partnership will strengthen both organizations’ reach and the value of services and content we provide to the fiduciary investment adviser community.”

Carlo di Florio, chief services officer, ACA Group, says, “As a strategic partner, we are excited to collaborate further with the IAA on delivering thought leadership and guidance on how to address topical challenges for the benefit of our shared member/client community. The depth and breadth of our client base combined with our highly experienced and knowledgeable consulting team means ACA is well positioned to contribute to the valuable body of work that the IAA consistently delivers for its members.”

Hub Acquires Millennium Advisory Services 

Hub International Limited has acquired Millennium Advisory Services Inc. Terms of the transaction were not disclosed.

Located in Glen Allen, Virginia, Millennium Advisory Services is a fee-only financial planning and asset management firm with a specialized focus on providing financial planning advice and investment management services to clients in the education field, including employees of colleges and universities, as well as endowments and foundation boards.

“The team at Millennium strengthens our presence both in Virginia and in the education markets,” says Joe DeNoyior, national president of Hub Retirement and Private Wealth (RPW). “They share our strong commitment to serving clients. We are proud to have them join the Hub RPW team.”

Paul Hunt, co-founder and president of Millennium Advisory Services; Steve Anderson, co-founder and vice president; and the Millennium Advisory Services team will join Hub RPW in Hub Mid-Atlantic.

“Joe and the RPW team share our dedication to helping clients achieve financial freedom and save for a successful retirement,” Hunt says.

Hub RPW works to help plan sponsors create an offering that aligns with their business strategy, navigates fiduciary risk and helps employees pursue their financial goals. The several registered investment advisory affiliates in Hub RPW provide investment advisory services to clients whose total assets are approximately $105 billion.

Dechert Hires Employee Benefits and Executive Compensation Partner

Kevin Kay has joined law firm Dechert LLP’s employee benefits and executive compensation group as a partner based in New York. 

Kay regularly advises public and private clients on a wide variety of executive compensation, employment and benefits issues. He has particular experience in the transactional space, including strategically advising on private equity (PE) and cross-border merger and acquisition (M&A) transactions, as well as spinoffs, initial public offerings (IPOs) and other complex corporate transactions. He received a juris doctor from Hofstra University and a bachelor’s degree from Molloy College.

David Jones, co-chair of Dechert’s employee benefits and executive compensation group, comments, “Kevin’s deep transactional experience, especially on sophisticated PE and M&A transactions, will align with the needs of our international client base. He is a terrific addition to our group, and we’re excited to welcome him to the firm.”

Kay says, “I’m thrilled to be joining Dechert and look forward to working with my new colleagues around the world on dynamic and innovative transactions and matters for our clients.”

Alliant Selects Employee Benefits Vice President

Benefits consultant Kurt Lindamood has joined Alliant as vice president to its national employee benefits group. The Columbus, Ohio-based Lindamood will provide strategic employee benefits solutions for clients throughout the Midwest region.

“Kurt’s unique background and experience will strengthen the employee benefits group and further expand the breadth of services offered to our growing base of clients,” says Kevin Overbey, president, Alliant Employee Benefits. “His experience creating innovative solutions that support clients and their employees make him a valuable addition to our team.”

Lindamood has experience designing and deploying tailored employee benefits programs and solutions for companies spanning a breadth of industries and sizes. He joins Alliant with expertise in all areas of the benefits process, including strategic planning, outsourcing, compensation and human resources (HR) consulting.

Prior to joining Alliant, Lindamood was engaged in business development and client relationship management with a global professional services firm offering retirement, investment, and health products and services. He earned his bachelor’s degree in biology from Wittenberg University.

Mariner Wealth Advisors Acquires Cincinnati-Based RIA

Mariner Wealth Advisors has entered into a binding agreement to acquire Cincinnati-based registered investment adviser (RIA) The Pinnacle Group, in a deal that is set to close September 24.

This is Mariner Wealth Advisors’ fifth acquisition since the sale of a minority stake in the company to Leonard Green & Partners in April. The firm currently has 395 advisers across 53 offices, and this will be its second office in the Cincinnati metropolitan area.

“We’re thrilled to welcome such a talented group of individuals to the Mariner Wealth Advisors family while being able to expand our presence in Cincinnati,” says Marty Bicknell, CEO and president of Mariner Wealth Advisors. “The Pinnacle Group’s approach to financial planning, including its retirement planning solutions for businesses, fold into our services and firm goals seamlessly. I’m excited to see what we can accomplish together.”

“This is an incredible opportunity for The Pinnacle Group to continue our legacy of helping clients build a successful financial future and provide an attractive career path that offers new opportunities for growth and development to our team,” says J. Scott Sims, president and founder of The Pinnacle Group.

Since July, Mariner Wealth Advisors has announced four acquisitions: Allegiant Private Advisors, AdvicePeriod, Channel Islands Group and Commonwealth Advisory Group. The Pinnacle Group will assume the Mariner Wealth Advisors name at closing, and the Cincinnati office remains under Sims’ leadership. The owners and founders of The Pinnacle Group were advised on the transaction by the investment banking firm of Echelon Partners.