Triad Advisors and Resources Investment Advisors have recruited Retirement Benefits Group with its $10 billion in retirement plan assets under administration to join their network of retirement plan advisors, the firms announced Monday.
Retirement Benefits Group, based in San Diego, has 68 financial advisors and staff in 15 offices nationwide. Resources Investment Advisors, based in Overland Park, Kan., is an independent hybrid registered investment advisor and super-OSJ that specializes in supporting independent financial advisors who are focused on the corporate retirement plan space.
Retirement Benefits Group will continue to support independent financial advisors under its current brand and leadership structure. The firm offers plan design, investment monitoring and fiduciary services to its 580 retirement plan clients, as well as private client wealth management.
It will supplement the 48 offices operated by Resources Investment Advisors, which serves 2,100 corporate retirement plans with $36 billion in assets under management and another $3 billion in total client assets through the wealth management operations. Resources Investment Advisors is unusual in that it allows affiliated retirement plan advisors to operate as independent advisors while offering the support they need to grow, said Vince Morris, founder and president of Resources Investment Advisors.
“Today’s corporate retirement plan marketplace offers truly unique opportunities for well-resourced financial advisors to effectively support plan sponsors and plan participants in an evolving and highly complex landscape,” Morris added. “Plan participants need more in-depth and sophisticated offerings to help them properly prepare for retirement, while sponsors need more comprehensive guidance, expertise and innovation from the advisors who support their plans.”
Both are affiliated with Triad Advisors, a wholly owned subsidiary of Ladenburg Thalmann, an independent advisory and brokerage firm supporting independent hybrid financial advisory practices and registered investment advisory firms.
Retirement Benefits Group was previously affiliated with LPL with Independent Financial Partners serving as its OSJ.
This is the third major new affiliation announced by Resources Investment Advisors already this year. The affiliation of Strategic Retirement Group and Stonestreet Equity, both in White Plains, N.Y., were completed late in 2018 and announced Jan. 3.
“This does a lot to reinforce our position as a leader in the market for hybrid RIAs,” said Nathan Stibbs, executive vice president and chief strategic officer for Triad Advisors. “We are very selective in our growth. We are looking for firms with entrepreneurial advisors who have significant potential for growth.”