SageView Picks Up Founders of $5B Retirement Group

SageView Advisory Group is acquiring two of the founders and managing partners of Retirement Benefits Group in San Diego, along with their team, SageView said Thursday.

The RBG team is an institutional retirement plan consulting group with $5.2 billion in assets under advisement, which also includes a growing wealth management business with $63 million in assets under management, according to independent registered investment advisor SageView.

RBG was founded in 2010 to provide customized retirement plan consulting solutions, executive benefits and retirement management services to U.S. companies.

As part of the deal, RGB co-founders Tony Franchimone and Larry Deatherage will become managing directors at SageView and will be joined by retirement plan consultant Cory McCarthy, wealth advisor Winston Ventura and client services associate Rachel Hall, SageView said.

“SageView’s centralized support teams in practice management, advisory services, marketing and business development provide the support we need to continue our growth and success serving retirement plan sponsors,” Franchimone said in a statement. “We will also be able to evolve our wealth management technology and operations with SageView.”

The transaction is expected to close on June 30, according to SageView. Financial terms weren’t disclosed.

The RBG purchase is the ninth that SageView has announced since July 2021 and since establishing a partnership with Aquiline Capital Partners, a financial services and technology-focused private equity firm.

Prior to RBG, Newport Beach, California-based SageView said in December that it completed an acquisition of Lakeview Wealth Management, a Deer Park, Illinois-based team of six women.