OneDigital Investment Advisors Expands AUM with Praxis Consulting Deal
Posted on 10/01/2021
In January 2021, Atlanta-based OneDigital Investment Advisors, the registered investment advisor and wholly owned subsidiary of OneDigital, acquired the institutional 401(k) investment advisory relationships of Truist Financial Corporation. Under the terms of the agreement, OneDigital Investment Advisors will acquire approximately 1,200 plans, representing US$ 10 billion in plan assets.
“We are excited to become a part of the OneDigital team,” said Christopher Jones, Senior Vice President, Truist Financial Company, in a January 2021 press release. “We are both focused on providing the premier level of both fiduciary and investment services to our plan sponsor clients. It’s a natural fit for our team to become part of the OneDigital family.”
Recently, OneDigital Investment Advisors bought Praxis Consulting, a Sacramento, California-based retirement plan consulting firm that manages US$ 350 million in assets, including US$ 240 million in plan assets.
In October 2020, Onex Corporation acquired a majority ownership position in OneDigital from New Mountain Capital.
Keywords: OneDigital Health and Benefits, Inc.