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Direct Investment  + Financial Advisory  + M&As  | 
OneDigital Acquires Huntington’s $5.6B 401(k) Business

OneDigital Acquires Huntington’s $5.6B 401(k) Business

OneDigital Investment Advisors, the 401(k)-focused RIA arm of financial services firm OneDigital, has expanded its retirement practice with the acquisition of Columbus, OH-based Huntington National Bank’s 401(k) advisory and retirement plan servicing business, a wholly owned banking subsidiary of Huntington Bancshares Incorporated. Terms of the agreement were not disclosed.

The transaction brings $5.6 billion in retirement plan assets and 1,300 employers to the OneDigital platform, representing over one million participants and 41,000 individual accounts.

“We will continue to expand our capabilities for these plan sponsors, enhance our financial wellness and advice offerings and accelerate our value creation for all our stakeholders,” said Vincent Morris, president of retirement and wealth at OneDigital.

The deal marks yet another firm added to OneDigital’s roster of acquisitions. Earlier this month, OneDigital announced its expansion to Arizona with the acquisition of 401K Resources and The Clear Group. In February, the firm bought the Florida Pension Group, its 17th Florida office.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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