OneDigital says it has boosted its wealth management capabilities with the addition of a $45 billion RIA in Kansas.

Founded in 1987, Overland Park, Kan.-based Resources Investment Advisors offers employers assistance with building and managing retirement plans for their workers, according to a press release from OneDigital. Resources currently has 2,600 employer-sponsored retirement plan clients and has $45 billion under management, OneDigital says.

The Atlanta, Ga.-based OneDigital specializes in benefit advisory services, analytics, compliance support, human resources management tools and insurance offerings.

This marks the first time retirement plan consulting and wealth and healthcare benefits solutions will be together under the OneDigital brand, according to the press release. This makes OneDigital the first employee benefits and retirement-only broker in the small- and medium-sized business space to integrate both types of benefits together under a single brand, the press release adds.

As part of the deal, the advisor teams of Retirement Benefits Group and Fulcrum Partners in Newport Beach, Calif., will lead OneDigital’s non-qualified retirement planning division, according to the press release. In addition, the acquisition brings OneDigital several other advice practices: Bukaty Companies Financial Services, 401k AIM, Cafaro Greenleaf, Capstone Advisory Group, Chepenik Financial, SHA Retirement Group, Strategic Retirement Group and Teros Advisors, OneDigital says.

OneDigital says the addition of Resources is “a significant milestone” in the firms’ growth as Resources will provide “key services” to help employers integrate cost-effective benefits that focus on overall employee wellbeing through financial wellness and participant advising.

"Rising healthcare costs and saving adequately for retirement are two of the most pressing financial issues facing Americans — regardless of income level — today. It makes sense to bring them together, as we see a future convergence of health, wealth and retirement as a holistic solution," Mike Sullivan, co-founder and chief growth officer at OneDigital, says in the press release.

"We are going to be different than the traditional benefits consulting firms that offer 401k plans: in adding Resources, we’re building an integrated approach to wellbeing, integrating healthcare and retirement planning so that employers can better support individuals and families. By bringing economic balance to our offering, insurance and retirement economics are not competing with each other in the future," Sullivan adds.

The companies didn’t disclose the financial terms of the deal.

Do you have a news tip you’d like to share with FA-IQ? Email us at editorial@financialadvisoriq.com.