SageView Advisory Group Enhances Retirement Consulting Footprint with Acquisition of OnTrack 401(k)

In a significant move, SageView Advisory Group, a leading player in the independent registered investment adviser (RIA) sector, has successfully acquired OnTrack 401(k) based in Frederick, Maryland. This acquisition, which concluded on December 2, 2024, represents a pivotal step in expanding SageView's footprint in institutional retirement plan consulting, addressing the growing need for comprehensive financial planning solutions among institutions and individuals.

The Strategic Merger

OnTrack 401(k) brings to the table $400 million in Assets Under Advisement (AUA) and offers retirement plan consulting services to over 90 institutions. The integration of OnTrack into SageView will bolster its already robust service offerings, allowing them to deliver enhanced support for retirement planning amidst an increasingly competitive labor market. Steve Gaven, the Chief Growth Officer at SageView, emphasized the importance of delivering financial security in today’s evolving employment landscape, noting that numerous companies now implement retirement plans to attract and retain top talent.

The charismatic Doug O'Rear, formerly of OnTrack 401(k), joins SageView as Managing Director, bringing invaluable expertise to the team, while his colleague, Cindy Brown, steps into the role of Retirement Plan Consultant. This addition further strengthens SageView’s presence in Maryland, complementing its other locations and elevating their ability to serve clients efficiently.

Insights from Industry Leaders

O'Rear, who embarked on his financial services career with MassMutual Financial Group, co-founded OnTrack 401(k) with the mission of guiding plan sponsors through critical aspects of plan design, fee structures, and investment selections. His dedication to improving retirement outcomes was a driving force behind the merger. "Being part of SageView allows me to utilize enhanced resources for plan sponsors and access a comprehensive financial wellness program, empowering retirement plan participants to achieve long-term financial success," expressed O'Rear.

SageView Advisory Group has long been recognized for its commitment to best-in-class service, providing tailored consulting and investment management for various retirement plans, including 401(k), 403(b), and defined benefit plans. The firm has been serving clients across the United States since its inception in 1989, ensuring personalized advisory services grounded in the specific needs of each client.

The acquisition of OnTrack 401(k) not only enhances SageView’s service capability but also underscores its strategic initiative to expand its East Coast presence, thus becoming an even more formidable player in the retirement planning sector. This strategic growth through acquisition reflects a broader trend within the financial services industry, where firms are increasingly looking to consolidate resources to deliver more comprehensive solutions to their clients.

Looking Ahead

As retirement planning becomes increasingly crucial in the face of evolving workforce dynamics, SageView's expanded capabilities position it as a leader in addressing these needs. With a network of over 30 locations across 21 states, the firm is poised to continue providing innovative solutions and support to retirement plan sponsors and participants alike.

This new chapter for SageView is not just about expansion; it signifies a commitment to fostering financial well-being among its clientele. As experts in the industry look ahead, the merging of SageView with OnTrack 401(k) sets a promising precedent on how the financial services sector can evolve to meet 21st-century needs.

For more insights into SageView's services or to connect with their team, visit www.sageviewadvisory.com or call (800) 814-8742.