OneDigital Acquires Fulcrum Partners
Friday, January 29th, 2021
OneDigital Investment Advisors, an SEC-registered investment adviser and wholly-owned subsidiary of OneDigital, the nation’s leading strategic advisory firm focused on driving business growth for employers of all sizes, today announced it has acquired the assets of Fulcrum Partners—marking the firm’s expansion into the nonqualified deferred compensation plan (NQDC) market.
Following another exceptional year of growth, OneDigital continues its efforts to streamline benefits solutions for employers of all sizes. The firm’s alignment with Fulcrum Partners furthers its position as a premier employee benefits advisory firm, advancing into the nonqualified deferred compensation plan (NQDC) market and creating a new window of opportunity to deliver uniquely tailored executive benefit solutions.
As part of the agreement, OneDigital Investment Advisors will assume responsibility for advising approximately $7 billion in additional, nonqualified plan assets. This includes plans sponsored by publicly and privately held companies, many of which have been clients of Fulcrum Partners for decades. Twelve advisors and 17 employees total have joined OneDigital from Fulcrum to broaden the scope of financial counseling to range from entry-level to C-Suite programs.
“The data shows American workers at all income levels are not saving enough for retirement,” said President of OneDigital Retirement + Wealth Vince Morris. “This includes owners and executives of companies that sponsor traditional retirement plans because highly-compensated employees are capped at what they can contribute to a 401(k) account. Therefore, we are excited to expand our holistic benefits offerings to include executive compensation strategies. Our firm is focused upon helping employees of all ages and income levels financially prepare for retirement and then assisting them in retirement.”
“The addition of executive benefits, including nonqualified deferred compensation plans, will provide employers with another tool for addressing their business goals while simultaneously providing their employees with a tool to work toward their own retirement goals. Through personalized investment strategies with retirement planning options for key employees, employers will be better positioned to attract and retain key management talent in an employee-centric market,” Morris added.
"After significant due diligence, we determined that OneDigital is an organization whose culture, character, and people emulate our values at Fulcrum Partners," said Mike Powers, Chief Administrative Officer, Fulcrum Partners. "It is an organization filled with people focused on integrity and service to others. Aligning our two organizations creates opportunities to secure our existing business while adding breadth and depth to our go-to-market strategies. All of this could be achieved without losing the hands-on approach our clients and partners expect from Fulcrum Partners. We are proud to be joining the OneDigital family."
OneDigital’s comprehensive advisory services and market-leading solutions are now offered in more than 100 offices and an additional 45 retirement + wealth offices throughout the country, serving around 60,000 clients, 5,000 retirement plans and approximately 900,000 participants. Strategic partnerships have led to significant growth for the firm, fueling its investments in technology solutions and other resources that deliver efficiencies for broker partners and the customers they serve.