OneDigital announced today a significant expansion in Arizona with the acquisition of 401K Resources and The Clear Group. The deal for the Scottsdale-based firms establishes OneDigital’s presence in Arizona and marks a milestone in the firm’s planned national expansion.
401K Resources was founded by President Renee Scherzer, the President-Elect of the National Association of Plan Advisors (NAPA). 401k Resources works with organizations to design retirement plans supporting their overarching total rewards program objectives. Similarly, The Clear Group, founded by President Chris Scherzer, provides employee benefits solutions, retirement planning, human resources consulting, and personal and business property & casualty solutions.
For over three years, 401k Resources has been a OneDigital Investment Advisors affiliate. The successful relationship between 401k Resources and OneDigital Investment Advisors led to a united decision to evolve the partnership officially through acquisition.
“We’re proud of the successes we have accomplished over the past 25+ years and our personal-touch and forward-thinking approach in how we support our clients,” said Renee Scherzer. “OneDigital shares the same outlook with their employees and clients, while bringing collaborative and innovative solutions to help us take our services to the next level. We’re very excited to be fully integrated with OneDigital and look forward to continuing to deliver on our mutual mission to everyone we serve.”
In a statement today, OneDigital said these acquisitions will enhance the available resources and support for over 100 Clear Group and 401K Resources clients. “Chris, Renee, and their experienced teams will continue to personally meet their clients’ needs with the same elevated level of service that their clients have come to trust,” the release said.
Following the transition and the addition of 401K Resources’ assets, OneDigital Investment Advisors’ total assets under management will be approximately $109.8 billion, representing over one million participants and 41,000 individual accounts. OneDigital Investment Advisors is an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.
“I’m so excited to welcome the Clear Group and 401K Resources to the OneDigital Team. We have wanted to expand into Arizona for quite some time and finally found the perfect partners with Chris and Renee Scherzer,” said Jeff Fallick, Regional Managing Principal, OneDigital West Region. “Their powerful combination of integrated employee benefits and retirement (401K) consulting model for clients fits squarely into OneDigital’s value proposition. Under their leadership, I am confident that Arizona will be one of our fastest-growing markets in the country.”
SEE ALSO:
• OneDigital Adds 17th Florida Office with Addition of Florida Pension Group
• OneDigital Unveils Wealth Management Solutions for Individuals
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.