OneDigital Buys $3.8B Wealth, Retirement Firm StoneStreet

OneDigital Investment Advisors, a division of financial services firm OneDigital, has acquired Armonk, NY-based StoneStreet Equity LLC, a retirement plan advisory firm with $3.8 billion in assets under administration.

Financial terms of the deal were not made available.

The deal allows Atlanta-based OneDigital to expand its retirement plan consulting and wealth management capabilities in the Northeast.

“Beyond their great success in the traditional 401k space, they bring to OneDigital additional abilities to support our clients who offer defined benefit plans,” said OneDigital Retirement and Wealth President Vincent Morris.

Stonestreet was founded in 1981 by Robert Goldstein as a fiduciary to institutional retirement plans. Spencer Goldstein, principal and CIO; Heidi Sidley, principal and managing director; and their five-person team will join OneDigital.

The acquisition marks OneDigital’s fourth in 2023. The firm acquired Huntington National Bank’s 401(k) advisory and retirement plan servicing business in April. Prior to that, it purchased 401K Resources, The Clear Group, and Florida Pension Group.

Founded in 2000, the firm works with more than 75,000 employers and represents more than a million retirement-plan participants and 41,000 individual accounts. It managed about $108.9 billion in assets under management as of February.

M&A retirement and wealth advisory Wise Rhino Group advised StoneStreet on the transaction.