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Wintrust (WTFC) Retirement Division to be Acquired by OneDigital
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Wintrust Financial Corporation’s (WTFC - Free Report) subsidiary, Wintrust Investments, has entered a strategic relationship with OneDigital Investment Advisors. Per the partnership agreement, OneDigital will acquire Wintrust’s Retirement Benefits Advisors division based in Chicago.
The transaction brings advisory accounts with $2.6 billion in retirement plan assets, representing more than 40,000 participants and 200 clients, to OneDigital.
Wintrust’s ongoing referral partnership with OneDigital is expected to drive additional scale and increased capabilities.
The Wintrust Retirement Benefits Advisors team, led by Dan Peluse, will continue to personally help their clients navigate the ever-changing retirement plan landscape with the specialized expertise and scale of OneDigital’s national retirement plan advisory practice.
Vincent Morris, the president for retirement and wealth at OneDigital, stated, “We are delighted that Wintrust Retirement Benefits Advisors has chosen to unite with OneDigital. The decision to align our strengths underscores a shared commitment to providing holistic, customized retirement planning and solutions that elevate client outcomes. OneDigital's strong footprint in Chicago, coupled with Wintrust's esteemed reputation and Dan Peluse’s proven leadership, positions us to further extend our influence in the region.”
Tom Zidar, the chairman and CEO of Wintrust Wealth Management, said, “We are excited to be partnering with OneDigital. This deal will enable us to increase the value we can create for our clients through better purchasing power with both plan administrators and investment management firms and an expanded service offering beyond fiduciary plan consulting.”
Over the past six months, WTFC shares have gained 25% compared with the industry’s 9.7% growth.
This January, Webster Financial (WBS - Free Report) completed the acquisition of Ametros Financial Corp to broaden its financial services portfolio. Ametros, one of the country’s largest professional administrators of medical insurance claim settlements, will maintain its operations under the Ametros and CareGuard brands.
This acquisition positions WBS to tap into Ametros' rapidly growing source of low-cost, long-duration deposits. The addition of Ametros to Webster's offerings not only enhances its deposit diversity but also introduces a new stream of non-interest income. With plans for a full integration in the first quarter of 2024, this move reinforces the company’s commitment to strategic expansions.
In order to meet increasing investor demand and expand in the alternative investments space, SEI Investments Company (SEIC - Free Report) acquired Altigo in December 2023. Altigo is a cloud-based technology platform that provides inventory, e-subscription and reporting capabilities for alternative investments.
SEIC is a leader in supporting sponsor firms’ operational and information needs. With the integration of Altigo within SEIC’s capabilities across intermediary wealth channels, the company will be able to deliver a broader end-to-end solution.
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Wintrust (WTFC) Retirement Division to be Acquired by OneDigital
Wintrust Financial Corporation’s (WTFC - Free Report) subsidiary, Wintrust Investments, has entered a strategic relationship with OneDigital Investment Advisors. Per the partnership agreement, OneDigital will acquire Wintrust’s Retirement Benefits Advisors division based in Chicago.
The transaction brings advisory accounts with $2.6 billion in retirement plan assets, representing more than 40,000 participants and 200 clients, to OneDigital.
Wintrust’s ongoing referral partnership with OneDigital is expected to drive additional scale and increased capabilities.
The Wintrust Retirement Benefits Advisors team, led by Dan Peluse, will continue to personally help their clients navigate the ever-changing retirement plan landscape with the specialized expertise and scale of OneDigital’s national retirement plan advisory practice.
Vincent Morris, the president for retirement and wealth at OneDigital, stated, “We are delighted that Wintrust Retirement Benefits Advisors has chosen to unite with OneDigital. The decision to align our strengths underscores a shared commitment to providing holistic, customized retirement planning and solutions that elevate client outcomes. OneDigital's strong footprint in Chicago, coupled with Wintrust's esteemed reputation and Dan Peluse’s proven leadership, positions us to further extend our influence in the region.”
Tom Zidar, the chairman and CEO of Wintrust Wealth Management, said, “We are excited to be partnering with OneDigital. This deal will enable us to increase the value we can create for our clients through better purchasing power with both plan administrators and investment management firms and an expanded service offering beyond fiduciary plan consulting.”
Over the past six months, WTFC shares have gained 25% compared with the industry’s 9.7% growth.
Image Source: Zacks Investment Research
Currently, WTFC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Acquisitions by Other Finance Firms
This January, Webster Financial (WBS - Free Report) completed the acquisition of Ametros Financial Corp to broaden its financial services portfolio. Ametros, one of the country’s largest professional administrators of medical insurance claim settlements, will maintain its operations under the Ametros and CareGuard brands.
This acquisition positions WBS to tap into Ametros' rapidly growing source of low-cost, long-duration deposits. The addition of Ametros to Webster's offerings not only enhances its deposit diversity but also introduces a new stream of non-interest income. With plans for a full integration in the first quarter of 2024, this move reinforces the company’s commitment to strategic expansions.
In order to meet increasing investor demand and expand in the alternative investments space, SEI Investments Company (SEIC - Free Report) acquired Altigo in December 2023. Altigo is a cloud-based technology platform that provides inventory, e-subscription and reporting capabilities for alternative investments.
SEIC is a leader in supporting sponsor firms’ operational and information needs. With the integration of Altigo within SEIC’s capabilities across intermediary wealth channels, the company will be able to deliver a broader end-to-end solution.