Sageview Advisory Group on Thursday announced that it picked up a $17 billion retirement plan consultant, representing one of the first acquisitions since its private-equity investment at the end of 2020.
The deal to buy Arizona- and Southern California-based MJM401k adds 100 retirement plans and eight employees to SageView, the company said in a statement. MJM401k founder Michael Malone has joined SageView as a managing director.
The plan consultant specializes in fiduciary governance, retirement plan investments, vendor selection and management, fee benchmarking and retirement income planning. Park Sutton Advisors represented MJM401k in the deal, according to the announcement.
At the end of March, SageView reported overseeing $134 billion in retirement plan assets, at the time having acquired the plan business of Portland, Oregon-based Arnerich Massena. That deal was the first SageView announced since private-equity firm Aquiline Capital Partners invested in the company late last year.
The PE investment gave SageView considerably more resources to grow and acquire other firms, CEO Randy Long said when the deal was announced in January.
Separately, Hub International announced on Friday that it purchased the assets of Aegis Retirement Group, which had been a member of the Retirement Plan Advisory Group since 2012.
Aegis, which is based in Memphis, provides retirement plan consulting, compliance and regulatory guidance in addition to wealth management. That firm's clients included 75 retirement plan sponsors, representing about $500 million in assets, according to Hub.
As part of the deal, Aegis founder Walter Grant is joining Hub Retirement and Private Wealth in the firm’s mid-South business. Hub’s Retirement and Private Wealth business includes about $105 billion in assets under advisement, according to the firm.
Integrated Partners is adding a mother-son tandem to its network in Missouri as Kestra onboards a father-son advisor duo from UBS.
Futures indicate stocks will build on Tuesday's rally.
Cost of living still tops concerns about negative impacts on personal finances
Financial advisors remain vital allies even as DIY investing grows
A trade deal would mean significant cut in tariffs but 'it wont be zero'.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
