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Benefits Broker to Acquire $45 Billion Super OSJ/RIA

OneDigital's acquisition of Resources Investment Advisors brings health and wealth under one roof.

OneDigital, an employee benefits broker for small to midsize employers, announced plans this week to acquire Resources Investment Advisors, an Overland Park, Kan.-based registered investment advisory and super office of supervisory jurisdiction with Triad Advisors. The firm manages $45 billion and works primarily with employer-sponsored retirement plans.

Terms of the deal were not disclosed.

OneDigital expects the acquisition to provide a competitive edge by going beyond health benefits and human resources consulting. Resources Investment Advisors provides wealth management, asset management and retirement plan services.

“It makes sense to bring them together, as we see a future convergence of health, wealth and retirement as a holistic solution. We are going to be different than the traditional benefits consulting firms that offer 401k plans,” said Mike Sullivan, co-founder and chief growth officer at OneDigital, in a statement.

The RIA has more than 40 branch offices across the country, including Groebl Brothers in Kansas, Henderson Wealth Management in California, Oakeson Steiner Wealth & Retirement in Nebraska and Presidio Wealth Management in Utah.

OneDigital claims the deal will make it the first broker to provide health and wealth services to the small- to midsize-employer space under one roof. Sullivan also said in the statement that this move creates less competition between “insurance and retirement economics.”

For Resources, the acquisition gives it access to growth capital for more mergers and acquisitions and affiliations in the future. The partnership also gives its advisors access to all of OneDigital’s services, including compliance services, global benefits and risk management assistance for employers.

OneDigital started in 2000 and has more than 2,000 employees serving 5,000 employers across the country.

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