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OneDigital Acquires Institutional Investment Advisory Retirement Business From Truist

The Acquisition Expands OneDigital Investment Advisor’s Continued Growth in the Retirement Plan Consulting and Wealth Management Industry

ATLANTA, GA – January 6, 2021 – OneDigital Investment Advisors, the registered investment advisor and wholly owned subsidiary of OneDigital, the nation’s leading strategic advisory firm focused on driving business growth for employers of all sizes, today announced it has acquired the institutional 401(k) investment advisory relationships of Truist Financial Corporation (“Truist”).

This acquisition concludes a year of immense growth for OneDigital, including multiple acquisitions as it advances its presence in the retirement and wealth management space to become one of the premier advisory firms. Under the terms of the agreement, OneDigital Investment Advisors will acquire approximately 1,200 plans, representing $10B in plan assets.

The company’s vision for the convergence of health, wealth and retirement continues; OneDigital is at the forefront of this industry change providing a holistic single-source benefits solution for employers. As the demand for personalized and customized financial solutions from the American workforce grows, employers are seeking more convenient ways to better serve the financial needs of employees.

The American family is faced with more financial and healthcare complexities than ever before, and as a result, employees are looking to their employers to provide individualized advice across these areas. As an industry, we’re seeing this shift in how these services are delivered using people and technology to provide customized and personalized solutions and we are leading that change to the benefit of our clients’ workforce.
 
Vince Morris, President, OneDigital Retirement + Wealth

"We are excited to become a part of the OneDigital team," said Christopher Jones, Senior Vice President, Truist Financial Company. "We are both focused on providing the premier level of both fiduciary and investment services to our plan sponsor clients. It's a natural fit for our team to become part of the OneDigital family."

With 37 acquisitions completed in 2020, the addition of Truist’s institutional 401(k) investment advisory business continues this trend of notable growth, fortifying the company’s expansion in the retirement and wealth space. OneDigital’s comprehensive advisory services and market-leading solutions are now offered in more than 100 offices and an additional 45 retirement + wealth offices throughout the country, serving around 60,000 clients. Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

About OneDigital

OneDigital is the leading strategic advisory firm in the U.S. and has consistently led from the front as a workplace ally for 20 years. OneDigital’s unique ability to converge health, wealth and human resources into a hub of services and business guidance has empowered companies to create workplaces that attract and retain talent while fueling innovation and company growth. As employee healthcare, wellness and workplace benefits continue to shift, companies of all sizes have relied on OneDigital’s exceptional advisory teams for counsel and its adjacent services, including employee benefits, holistic HR services, retirement and wealth management, employee wellbeing and pharmacy consulting. Headquartered in Atlanta, OneDigital's more than 100 offices and 2,400+ business strategists serve the needs of over 60,000 employers across the nation.

OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 11 companies to do so. Currently listed as 18th on Business Insurance’s list of 100 Largest U.S. Brokers, OneDigital’s deep analytic abilities and experienced advisors deliver insights that reduce business risk and improve plan design and performance. For more information, visit www.onedigital.com. Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Truist Bank, Member FDIC. Learn more at Truist.com.

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