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.
