Pensionmark Financial Group, a financial advisory firm and division of World Insurance Associates, is unveiling a fresh start.
The firm announced this week that it would rebrand to World Investment Advisors LLC, in an effort to build upon its wealth management strategies and establish itself as a “top performing” wealth manager with personalized service offerings that include centralized technology and support.
“Between several pivotal acquisitions and recent enhancements to our platform capabilities, we felt it was time to move to a brand that reflects the evolution of the firm and our vision for the future,” said Troy Hammond, CEO of World Investment Advisors, in a statement. “We are extremely proud of our Pensionmark roots and maintain our commitment to implement innovative solutions for our advisors and their clients. While our name is changing, our exceptional people, culture and service experience will not. Our advisors and their clients expect and deserve nothing less.”
World added that it would maintain Pensionmark’s “culture, core values, and high standards” to expand on its organic growth and acquisition strategies, adding that its advisors have benefited from the firm’s expertise in retirement plans, risk management, and insurance solutions along with resources provided through World.
Such strategies and resources have attracted private equity investments from firms Charlesbank Capital Partners in 2020 and Goldman Sachs Asset Management in 2023.
“Since making our investment last year, we have been impressed with the accelerated growth of World’s wealth management capabilities, which further enhance the multi-faceted set of client offerings across World’s integrated platform,” said Anthony Arnold, management director in Private Equity at Goldman Sachs.
David Katz, managing director at Charlesbank Capital Partners, added, “Pensionmark established itself as an industry leader by consistently delivering exceptional client service to its retirement and wealth advisory clients. Now, under the World brand, the business is well positioned to further enhance its reputation and capabilities.”
World, an Iselin, New Jersey-based firm that holds $55 billion in assets under advisement (AUA) across its institutional and wealth management division, first acquired Pensionmark in March of 2022. Over the past two years, its wealth management side has grown from $1 billion in assets under management to $11.5 billion.
The rebrand is effective immediately, added World. The firm will handle all future business under its new name as World Investment Advisors, while the company’s leadership, employees, office locations and legal documentation will remain unaffected.
World Investment Advisors, formerly Pensionmark Financial Group, is a network of more than 350 advisors and staff across more than 65 U.S. locations.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.