SageView Launches First Pooled Plan Solutions With Transamerica

SageView Advisory Group is getting into the pooled employer plan space through a partnership with Transamerica, the firm announced Tuesday.

SageView will serve as the 3(38) investment manager and financial adviser for plans that join its Integrity Pooled Solutions, set to launch July 1. The pooled plan options include joining the PEP, which the firms say can include plans of all sizes, or Transamerica’s retirement plan exchange for smaller plans of less than 100 employees.

Transamerica Fiduciary Services is the pooled plan provider for the PEP, and TAG Resources, a Transamerica firm, is the 3(16) plan administrator.

SageView is joining other 401(k) advisory firms in offering their own PEP for use by its network of plan advisers; the firm currently has about 270 people across 30 offices overseeing more than $202 billion in client assets across businesses and individuals.

“Interest in retirement plans continues to grow among American workers and employers who want to maintain a competitive edge in a tight labor market,” says Chris Donnelly, chief advisory services officer at SageView. ”As a leader in advising institutions and individuals, we understand the importance of access to these plans among plan sponsors of all sizes.”

PEPs were introduced with the Setting Every Community Up for Retirement Enhancement Act of 2019, but have had slow uptake by some estimates as compared to the trillions of dollars in the defined contribution space.

Transamerica is the third largest PEP provider by assets at $1.6 billion, behind Voya Financial at more than $2 billion and Principal Financial Group at $1.7 billion, from among providers who participated in PLANSPONSOR’s 2024 DC Recordkeeping Survey. PLANSPONSOR is a sister publication of PLANADVISER.

SageView noted that plan sponsors that join its solution will also have access to its PersonalSAGE financial education and engagement platform for participants, a service that includes one-on-one financial education and guidance.

“Whether it’s the launch of our PersonalSAGE education platform or Integrity Pooled Solutions, SageView is always identifying ways to ensure plan sponsors of all sizes, and participants, regardless of the size of their account balance have the right services and support,” Donnelly says.