SageView Advisory Group, a prominent Retirement plan-focused Registered Investment Advisor (RIA), is set to strengthen its position in the financial landscape through the acquisition of Capital One Investing's robo-advisor assets. This strategic move, expected to finalize in the second quarter of 2022, marks a significant development in the wealth management sector.
The Deal in Numbers
The transaction involves the transfer of approximately $900 million in assets from Capital One Investing to SageView Advisory Group. While specific financial terms remain undisclosed, this acquisition is poised to enhance SageView's financial prowess and market influence.
Key Players and Transition
Jed Finn, a seasoned professional with McKinsey pedigree, is slated to assume a pivotal role in this transition. Starting January 1, 2023, Finn's expertise will likely play a crucial part in the seamless integration of Capital One Investing's assets into SageView's comprehensive portfolio.
Industry Implications
This acquisition underscores the dynamic nature of the financial industry, with companies strategically positioning themselves to navigate evolving market trends. As SageView expands its footprint, the ripple effects of this deal may influence the competitive landscape and prompt further strategic moves within the sector.
Expert Opinions
Industry experts view this acquisition as a strategic maneuver, capitalizing on the strengths of both entities. The synergy between SageView's expertise in retirement-focused advisory services and the technological prowess of Capital One Investing's robo-advisor platform positions the amalgamated entity for future growth and client satisfaction.
Looking Ahead
As we anticipate the closure of this deal in the coming months, the financial community awaits insights into the operational and technological enhancements that may arise from the integration. The collaboration between traditional advisory services and cutting-edge robo-advisory technology is expected to set a precedent for innovative approaches in wealth management.
Conclusion
In conclusion, SageView Advisory Group's acquisition of Capital One Investing's robo-advisor assets is a strategic move that underscores the ever-evolving landscape of the financial industry. As the deal progresses towards closure, the industry watches with anticipation to gauge the impact on market dynamics and the potential for future developments in the intersection of traditional and technology-driven wealth management.
FAQs
SageView Advisory Group, a Newport Beach, California-based hybrid whose registered investment adviser manages $133.7 billion, will acquire Capital One Investing's client portfolios totaling $900 million.
Who is the owner of SageView Capital? ›
Ned Gilhuly, Co-Founder & Partner
Ned Gilhuly is a Founding Partner of Sageview Capital. He is responsible for all aspects of Sageview's business and sits on the firm's Investment Committee as well as the Portfolio Committee.
What happened to Capital One investing? ›
As of August 5th, 2019, Capital One Investing, LLC exited the Retail Brokerage Business. Capital One will, however, continue to service limited requests from former online retail account holders via a notarized Brokerage Request Form (e.g., statement reprints, check re-issuances).
Who is the CEO of SageView Advisory Group? ›
John Longley is the Chief Executive Officer at SageView Advisory Group, leading the firm's executive team and setting the strategic vision for more than 30 offices across the country. John's career spans over 35 years and several senior executive roles in the financial services industry.
Who did Capital One Investing sell to? ›
SAGEVIEW ENTERS IN DEFINITIVE AGREEMENT TO ACQUIRE $900M IN PORTFOLIO AUM FROM CAPITAL ONE INVESTING. NEWPORT BEACH, California – In December 2021, SageView Advisory Group executed definitive agreements with Capital One Investing to acquire investing client portfolios representing $900M in AUM.
Where is SageView Capital located? ›
Sageview is headquartered in Greenwich, Connecticut and in Palo Alto, California.
When was SageView founded? ›
Randall Long is founder and Chairman of SageView Advisory Group. Randy founded SageView in 1989 by assembling a team of seasoned financial advisors and investment specialists across the country. The firm has since grown to one of the...
What is the Capital One controversy? ›
This action results from a CFPB examination that identified deceptive marketing tactics used by Capital One's vendors to pressure or mislead consumers into paying for “add-on products” such as payment protection and credit monitoring when they activated their credit cards.
Is Capital One safe from collapse? ›
Your money is safe at Capital One
The FDIC insures balances up to $250,000 held in various types of consumer and business deposit accounts.
Who owns the most stock in Capital One? ›
Richard Fairbank is the founder, Chairman, and CEO of Capital One. He is the company's largest individual shareholder, with a 1.11% stake in the company. The Vanguard Group, BlackRock, and Dodge & Cox are the largest institutional shareholders, with a combined 24.85% stake in the company.
About SageView Wealth Management
SageView is an employee-owned and independent SEC-Registered Investment Advisor (RIA) with over 270 employees located in more than offices nationwide.
Who owns Advisor Group Holdings? ›
In 2016, Lightyear Capital, LLC and PSP Investments bought the then named AIG Advisor Group from AIG. In 2019, Reverence Capital Partners bought Advisor Group for $2.3 billion. In 2023, Advisor Group announced its new name, Osaic, as part of a multi-month strategy to rebrand its subsidiary firms into one entity.
Who owns Foundations Investment Advisors? ›
Foundations Investment Advisors was founded in 2015 by current principal owner and CEO Bryon Rice. Rice has spent more than 20 years in the financial services industry.
Who is the billionaire of Capital One? ›
Richard Dana Fairbank (born September 18, 1950) is an American billionaire businessman who co-founded Capital One with Nigel Morris in 1988. He was on the board of directors of MasterCard International from 2004 to 2006.
What bank is Capital One owned by? ›
Capital One is a subsidiary of Capital One Financial Corporation, a U.S.-based bank holding company headquartered in McLean, Virginia and founded in 1994. Capital One has been a subsidiary of Capital One Financial Corporation since it was established as a separate division of the company in 1994.
Who is Capital One merging with? ›
In February 2024, Capital One agreed to buy Discover Financial Services for more than $35 billion, in a deal that would unite two of the largest U.S. credit-card companies. The proposed acquisition comes at a time when consumers are shifting more of their payments from cash to credit cards.
Who owns the Capital Group Companies Inc? ›
As of 2019, the company is owned by 450 partners.
Who are the founders of Tennenbaum Capital Partners? ›
Michael Tennenbaum, Howard Levkowitz JD, and Mark Holdsworth are the founders of Tennenbaum Capital Partners.
Who owns Solamere Capital? ›
Solamere Capital is a $2 billion multi-strategy private equity investment firm founded in 2008 by Tagg Romney, Eric Scheuermann, and Spencer Zwick, and in partnership with Mitt Romney (who stepped down in 2019 to join the U.S. Senate).
Who owns Spark Capital? ›
Team. Spark Capital was founded in 2005 by Bijan Sabet, Paul Conway, Santo Politi, and Todd Dagres. Other people who have joined the company since its inception include Kevin Thau, Jeremy Philips, Alex Finkelstein, Yasmin Razavi, and Nabeel Hyatt. The company consists of approximately 11–50 employees.
