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Direct Investment  + Financial Advisory  + M&As  |  February 21, 2024
OneDigital RIA Arm Buys Wintrust’s $2.6B Retirement Unit
By: Joe Palmisano

OneDigital RIA Arm Buys Wintrust’s $2.6B Retirement Unit

OneDigital Investment Advisors LLC, an Overland Park, KS-based RIA and subsidiary of insurance brokerage and financial services firm OneDigital, has acquired the Retirement Benefits Advisors unit of Wintrust Investments, LLC, itself a subsidiary of Wintrust Financial Corporation.

The transaction brings advisory accounts with approximately $2.6 billion in retirement plan assets representing over 40,000 participants and 200 clients to OneDigital.

In addition to the acquisition, OneDigital indicated it has struck an ongoing referral partnership with Wintrust.

The Chicago-based Wintrust Retirement Benefits Advisors team is led by Dan Peluse, who will join OneDigital’s existing 35 teams, including group health insurance and property & casualty specialists, spread across their north central market.

“The decision to align our strengths underscores a shared commitment to providing holistic, customized retirement planning and solutions that elevate client outcomes,” said Vincent Morris, president retirement + wealth, OneDigital.

This is the second multi-billion deal this year for OneDigital. Earlier this month, the firm acquired WealthSource Partners, a $2 billion San Luis Obispo, CA-based wealth manager.

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Inside The Story

OneDigital Investment Advisors LLC.Wintrust Financial Corporation

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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