Corporate Roundup: Capital Group Expands ICanRetire Program, Alera Group Names Director
This week, Capital Group announces an expansion of its ICanRetire program to small businesses, Alera Group appoints a retirement advisor services director, OneDigital acquires a Canadian-based wealth management firm, and more.
Capital Group Expands Engagement Tool to Small Businesses
ICanRetire, Capital Group’s employee engagement program, will now be available for financial advisors to offer to small business owners alongside its 401(k) plan solutions, PlanPremier and RecordkeeperDirect.
Advisors can now offer Capital Group’s ICanRetire program to small business owners alongside PlanPremier, a 401(k)-plan solution with bundled plan administration or the option to collaborate with a third-party administrator, and access to American Funds and other investment managers; or RecordkeeperDirect, a 401(k)-plan solution designed for start-ups and smaller businesses with the flexibility to select a third-party administrator.
“Retirement planning is a huge market opportunity, and we want to be able to partner with financial advisors to make that achievable within their practices,” said Dana McCollum, president of Retirement Plan Services at Capital Group. “Simplifying the process is key — both advisors and participants want an easy button. By seamlessly integrating ICanRetire with Capital Group’s small business retirement plan solutions, advisors gain a powerful tool to attract new business and help accelerate plan growth through increased participation and deferral rates. They’re also helping the individual small business employee who may not have previously had access to a retirement plan, or who may not have been contributing enough.”
The ICanRetire program is already available to employers that have American Funds Target Date Retirement Series in their investment lineup (in 401(k) or 403(b) plans).
The ICanRetire web experience is available to Capital Group’s PlanPremier and RecordkeeperDirect clients.
Alera Group Names Retirement Advisor Services Director
Alera Group has appointed Holly Knight as director of Retirement Advisor Services, a new position in the firm’s Retirement Plan Services (RPS) practice.
Working with EVP and National Practice Leader Christian Mango, Knight will manage key initiatives as Alera Group positions itself as a strategic partner for retirement plan advisors.
“We’ve grown tremendously over the past year and are now at an inflection point where we can bring in additional top talent to help accelerate that growth,” said Mango. “I’ve known Holly for many years as an outstanding leader and changemaker who consistently prioritizes the needs of plan sponsors and participants.”
Knight brings more than 20 years of experience in building operational and educational systems. Her expertise includes financial wellness and education, retirement-plan technology integration, and fostering synergies across RPS, employee benefits, insurance and other business areas.
“I’ve seen firsthand how clients are increasingly turning to employee benefits and other professionals for financial wellness solutions and retirement plan services,” said Knight. “I’m thrilled to bring my passion for building efficient, scalable solutions to Alera Group to address these complex needs. I look forward to collaborating with our offices and partners to achieve extraordinary outcomes. Above all, I’m proud to join an organization committed helping more people retire with dignity and confidence.”
According to Alera Group, Knight’s strategic priorities include:
- Growth acceleration: Executing a growth strategy through both acquisition and organic expansion.
- Investment platform optimization: Streamlining and integrating offerings to enhance value for clients and advisors.
- National client service model: Delivering consistency, personalization, and exceptional service across a unified platform.
- Marketing expansion: Strengthening national marketing efforts to support leadership and advisory firms with robust tools and resources.
- Technology advancement: Leading the integration of tech stack solutions for seamless operations and data-driven insights.
“We’re committed to offering advisors an unparalleled blend of innovation, resources and expertise so they can grow their practices and serve clients across the entire spectrum of plan sponsors,” said Mango.
Knight holds a master’s degree in education and a bachelor’s degree in economics. She is based in Boston.
Listen to the podcast episode featuring Holly Knight here.
OneDigital Acquires Canadian-Based PWL
OneDigital, an insurance, financial services and HR consulting firm, this week announced its investment in PWL Capital (PWL), an independent wealth management firm headquartered in Montreal, Canada. This strategic partnership signifies OneDigital’s first international expansion.
Founded in 1996, PWL Capital has offices in Ottawa, Montreal, and Toronto and manages approximately $5.5 billion in client assets and provides wealth management and financial planning services to more than 2,300 client families across Canada.
“This is a consequential investment for OneDigital as we make our first move into the Canadian market, partnering with a group that has a shared commitment to delivering investment and financial planning solutions centered around our client’s needs,” said Mike Sullivan, co-founder and chief growth officer at OneDigital. “PWL brings an exceptional team with deep expertise in wealth management, making them the perfect partner as we expand our footprint internationally. Together, we’re poised to bring more systematic, client-first financial solutions to Canadians, marking the beginning of an exciting new chapter for OneDigital’s growth and our ability to serve clients on a global scale.”
“Our vision is to create a company that doesn’t exist today—a company built from the ground up with one clear purpose: to deliver great financial advice to nice, busy people with serious financial objectives,” said Cameron Passmore, chief executive officer at PWL Capital. “This vision means one purpose, one team, and one philosophy working together to transform the financial advisory experience for Canadians. The beauty of a unified team ensures that every client benefits from a cohesive, thoughtful, and transformational approach. And Canada so desperately needs and deserves this. That’s why we’re thrilled to partner with OneDigital.”
As part of this partnership, PWL will transition to the OneDigital brand while continuing to operate as an independent subsidiary. The PWL team, of over 70 people, includes over 25 investment advisors registered with the Canadian Investment Regulatory Organization (CIRO).
Strongpoint, PCI Announce Partnership
Strongpoint Partners announced a new partnership with Pension Consultants, Inc., firm specializing in customized 401(k), traditional pension, cash-balance, and combo retirement solutions.
“I had the pleasure of meeting Bill [Anastasiades, president and principal at PCI] and Frank [Rossi, vice president and principal at PCI] for the first time almost two years ago,” said Danny Hest, CEO of Strongpoint Partners. “PCI has a very strong reputation, and Bill and Frank operate on very similar principles to Strongpoint’s core values. It was clear that they were the type of leaders, and had built and sustained the type of organization, that would be a perfect fit for Strongpoint Partners.”
“We really enjoyed meeting Danny, Doug [Simon, principal and founder of Strongpoint] and
Mike (Heflin, COO of Strongpoint). We found what they were building, and how they were
building it, to be distinct and innovative,” said Anastasiades. “As with all businesses of our size and scale [PCI represents roughly 1,500 unique retirement plans], we’d been approached by all the national firms over the years but had never considered doing anything with our business.”
As with all Strongpoint partners, Bill and Frank will continue to lead PCI’s business and sales, and all PCI employees will continue to serve their clients.
NFP Buys Tycor
NFP has acquired Tycor Benefit Administrators, Inc., a multidisciplinary professional services firm based in Wayne, PA.
The principals of Tycor, Lauren Stuart and J. Timothy Corle, will join NFP as senior vice presidents and report to Jessica Espinoza, managing director of Retirement in NFP’s Atlantic region.
“I’m excited to welcome Lauren, Tim and the Tycor team to NFP,” said Espinoza. “This acquisition is a great opportunity to grow our presence in the greater Philadelphia market and round out our capabilities. We’re especially looking forward to expanding our ability to scale our retirement plan advisory and third-party administration services nationally with Tycor’s offerings.”
Founded in 1980, Tycor has established itself as a multigenerational and diversified professional services firm that manages and advises on approximately $500 million in assets. The firm works with clients in Philadelphia and the tri-state area, focusing primarily on providing third-party administration (TPA) recordkeeping and retirement services while also offering employee benefits, wealth management services, financial planning and individual insurance products.
“This is an ideal next step in Tycor’s evolution, and we’re thrilled to be part of NFP,” said Stuart and Corle in a joint statement. “We’re also very proud of our client service and excited to join a like-minded organization committed to helping employers empower their employees to live well and retire comfortably. The combination of access to NFP’s wide array of human capital and employee benefits solutions and our highly effective service model will bring significant value to business clients and their employees in the region.”
“Tim and Lauren have done an amazing job building Tycor into one of southeastern Pennsylvania’s premier firms,” shares Peter Campagna, managing partner at Wise Rhino Group, whose client was Tycor. “They were early pioneers in providing a complete suite of services to serve the retirement and benefit needs of both individual and corporate clients. NFP is the perfect partner to help them continue innovating and serving their clients.”