SageView acquires $825 million RIA
kPlans, based in Valencia, California, is a retirement plan consultant with a focus on defined-benefit and cash balance plans.
SageView Advisory Group, a Newport Beach, California-based registered investment adviser managing $4 billion and advising on $170 billion in retirement assets, has acquired kPlans Investment Services of Valencia, California, which advises on $825 million.
Financial terms weren’t disclosed.
kPlans was founded in 2005 and was previously known as Pensionmark LA. The firm offers retirement plan consulting with a focus on defined-benefit and cash balance plans, as well as a growing wealth practice, SageView said in a press release Wednesday.
Firm founder Steve Sansone will become a managing director of SageView.
kPlans is the fifth firm to join SageView since the launch of its mergers and acquisition growth strategy, SageView said.
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