OneDigital bolsters financial advisory platform with WealthSource acquisition
In a significant move to expand its wealth management services, OneDigital Investment Advisors, a subsidiary of the leading insurance brokerage, financial services, and HR consulting firm OneDigital, announced the acquisition of WealthSource Partners. This transaction marks a substantial increase in OneDigital’s assets under management, adding approximately $1.3 billion in wealth management advisory assets to its already impressive $100 billion platform.
WealthSource Partners, renowned for its comprehensive financial planning, investment management, and insurance solutions, brings over two decades of experience to OneDigital. The WealthSource team, comprising 44 seasoned professionals across nine states, including California, Arizona, Utah, Colorado, Oklahoma, Texas, Ohio, Tennessee, and Florida, will continue their mission of serving approximately 2,000 client families with a personal and client-centric approach.
Vincent Morris, President of Retirement + Wealth at OneDigital, expressed his enthusiasm about the acquisition, stating, “We’re delighted to welcome the WealthSource team and weave their valuable expertise into our robust team of dedicated financial advisers. The wealth management industry is highly complex and demanding, and together with WealthSource, we will meet the increasing challenges with our depth of knowledge and mutual desire to put our clients’ needs first.”
OneDigital Investment Advisors Acquires WealthSource, Adding $1.3 Billion in Advisory Assets
The co-founders of WealthSource, Bryan Sullivan (CEO), Eric Patton (CFO), and Jon Dubravac (Chief Business Development Officer), emphasized the benefits of joining forces with OneDigital. They highlighted the potential for serving their clients with a more comprehensive suite of services, advanced financial planning tools, robust investment strategies, and a wider network of expertise. “We share a commitment to excellence, a client-centric approach, and a vision for the future of wealth management,” they jointly stated.
OneDigital’s strategic acquisitions, like that of WealthSource, underscore its dedication to expanding its consumer platform. These acquisitions aim to provide comprehensive solutions that safeguard clients against risks, support individual health needs, and address unique financial goals through wealth management consulting.
Founded in 2000 and headquartered in Atlanta, OneDigital has grown into a national leader in insurance, financial services, and HR consulting. The company’s culture of caring and tech-enabled solutions has made it a go-to for more than 75,000 employers and millions of individuals seeking advice on health, success, and financial security. OneDigital’s investment advice is offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser.
Formed in 2016 through the merger of Vellum Financial and Avant-Garde Advisors by Bryan Sullivan, Eric Patton, and Jon Dubravac, WealthSource Partners was built on a foundation of best-in-class investment and financial planning experts supported by state-of-the-art technology. With a client-first mentality, WealthSource operates on the principle that financial advice should benefit the clients, not the advisors.
The acquisition of WealthSource by OneDigital Investment Advisors is a strategic maneuver that significantly enhances OneDigital’s position in the wealth management sector. By integrating WealthSource’s extensive expertise and client-centric approach, OneDigital is set to offer more holistic and tailored financial solutions. This partnership not only strengthens OneDigital’s service offerings but also aligns with the industry’s shift towards comprehensive, client-focused financial planning and management services. It represents a forward-thinking approach to addressing the evolving needs of clients in a complex financial landscape.