Overland Park, Kansas-based OneDigital Investment Advisors, the registered investment advisor subsidiary of insurance giant OneDigital, has announced the acquisition of the Wintrust Retirement Benefits Advisors Team, adding $2.6 billion to its advisory platform.

“We are excited to be partnering with OneDigital,” said Tom Zidar, president and CEO of Wintrust Wealth Management, in comments released yesterday. “This deal will enable us to increase the value we can create for our clients through better purchasing power with both plan administrators and investment management firms and an expanded service offering beyond fiduciary plan consulting.”

The acquisition comes as part of a “strategic relationship” with Wintrust Investments, a broker-dealer subsidiary of Wintrust Wealth Management, which is itself a subsidiary of Chicago-based Wintrust, a diversified financial services firm, the announcement said. 

The Wintrust Retirement Benefits Advisors team, which serves over 200 retirement plan sponsors and over 40,000 plan participants mostly located in the North Central U.S., will join with OneDigital’s 35 teams, according to the announcement.

“The decision to align our strengths underscores a shared commitment to providing holistic, customized retirement planning and solutions that elevate client outcomes," Vincent Morris, president of retirement and wealth at OneDigital, said in a prepared statement.