Wealthspire Advisors has acquired an Indianapolis-based retirement plan consulting and investment advisory firm, through its retirement plan advisory division. 

Fiducient Advisors has acquired Axia Advisory, which manages $1.9 billion in assets under management and advisement. The firm offers investment consulting, discretionary investment management, and investment solutions.  

Axia, which was founded in 1992 and is led by president Keith Shadrick, also provides portfolio management and financial planning through its private wealth unit, as Wealthspire aims to further expand its institutional presence. 

Axia, which brings its four-person team to Wealthspire, provides services to roughly 120 clients, according to the firm’s latest Form ADV updated on March 4.  

Following the acquisition, Axia will continue to operate from its Indianapolis office, in addition to operating with Wealthspire’s newly launched retirement division, Wealthspire Institutional, which launched in December. 

“I’ve spent my career helping retirement plan sponsors and participants navigate an increasingly complex landscape,” Shadrick said. “As part of Wealthspire, we can build on that foundation while enhancing our capabilities across retirement and private wealth and positioning the firm for long-term growth.” 

Shadrick also stated that he sold his firm to Wealthspire to gain broader access to its platform, investment resources, and its expanded research abilities. 

The transaction comes after Madison Dearborn bought back Wealthspire Advisors from its prior owner, Aon, in a transaction worth $2.7 billion. 

The merger consolidated former RIA Wealthspire Advisors with retirement plan manager Fiducient Advisors, along with Canada-based wealth manager Newport Private Wealth, and Wealthspire Retirement Advisory. 

In January, Wealthspire Advisors added Los Angeles-based Ceres Financial Management through Ground Control Business Management. 

Wealthspire says it oversaw more than $50 billion under management with over 1,200 financial professionals across over 40 offices.