OneDigital snaps up Texas-based wealth and retirement practice

The Legacy Asset Management team, from left to right: Sandy Jordan, Anita Gaddi, Joe Birkofer, Elizabeth Prudhomme, Adriana Elwood, Christi Allen

The deal, the RIA's third this year, broadens its presence in the south-central US.

OneDigital has made another move to bolster its wealth management and retirement business with an addition to its RIA subsidiary in Texas.

On Tuesday, OneDigital Investment Advisors announced the integration of Legacy Asset Management, a prominent Houston-based asset management firm, marking the third addition to OneDigital’s wealth and retirement portfolio in 2024.

Legacy Asset Management, established in 1998 by Joe Birkofer, who’s been in the industry for nearly a quarter-century, specializes in managing company retirement plans and guiding employees toward financially secure retirements.

The firm’s expertise extends to serving owner-operated companies, professional service groups, high-net-worth individuals, and not-for-profit clients across Texas and the US. Legacy combines retirement plan consulting and wealth management underpinned by comprehensive financial planning advice.

“Giving us a strong foothold in the wealth management and retirement services industry in Texas, a partnership with Legacy demonstrates our commitment to add value to our south-central clients,” Kelley Snook, senior vice president of retirement and wealth at OneDigital, said in a statement.

As OneDigital extends its reach in the south-central market of Texas, Oklahoma, and Arkansas, the firm’s latest partnership boosts its customer base to more than 2,500 clients across its full enterprise of financial services, employee benefits, HR consulting, and property and casualty solutions.

The integration sees the entire Legacy team continuing to serve their existing clientele while transitioning more than 300 advisory accounts to OneDigital’s platform, which boasts over $100 billion in assets.

“Throughout our clients’ careers and in retirement, Legacy has been honored to play a role in fostering financial security,” Birkofer said. “Our partnership with OneDigital ensures that our clients will be at the forefront of wealth creation as we continue to grow.”

In February, OneDigital Investment Advisors announced a deal to acquire Wintrust’s retirement advisory business, adding $2.6 billion in retirement plan assets to its book.

Before that, it landed a California-based RIA, WealthSource Partners, which is responsible for $2 billion in client assets.