SageView Advisory Group, a Newport Beach, Calif.–based retirement-focused RIA with over $130 billion in assets under advisement, has tapped Jeremy Holly, former senior vice president of corporate development and advisor financial solutions at LPL Financial, as its new chief development and integration officer.
Holly, who built out LPL’s advisor M&A offering, which went live earlier this year, will be responsible for leading SageView’s M&A efforts, as the firm looks to ramp up acquisitions in the retail wealth management space. He’ll be building out his own deal execution, sourcing and integration teams, and he’ll report to SageView founder and Managing Principal Randy Long.
“I’m excited about this new opportunity. It gives me the chance to really build something out, and control more of my own destiny,” Holly said. “[SageView is] really trying to ramp up those efforts and take advantage of the inorganic opportunities that are out there.”
New York–based private equity firm Aquiline Capital Management recently made a strategic investment in SageView, a move that could fuel the RIA’s inorganic growth strategy. While the firm has a large retirement plan business, Holly said it also wants to expand its smaller retail wealth management arm through recruiting and acquisitions. There’s also a big opportunity for advisors to tap into the plan participants on the retirement plan side of the business.
SageView was founded in 1989 and advises on 401(k), 403(b), 457 and defined benefit and deferred compensation plans. The firm has more than 100 employees spread throughout 25 offices in 17 states.
Holly was at LPL for more than 18 years, in various corporate finance and sales roles. Carter Gibson, who reported to Holly, will take over as head of M&A Solutions at LPL, reporting to Matt Enyedi, who runs the Business Solutions team. Ralph Stowell, senior vice president of project management at LPL, and Reed Eastley, senior vice president of corporate development, will take over Holly’s corporate M&A responsibilities.