SageView Advisory Group, an independent RIA headquartered in Newport Beach, Calif., is embarking on a new growth phase with the appointment of two new leaders, the firm announced today.
Randall C. Long, who founded SageView in 1989 and is managing principal, has been named chairman of the board, and John Longley, who most recently served as president of SVB Private, a division of First Citizens Bank & Trust Co., has been named CEO. The appointments will be effective Sept. 1.
The appointments “are expected to further fuel SageView’s ongoing expansion in wealth management, while reinforcing the firm’s leadership position in the retirement plan advisory space,” the firm said in making the announcement.
Long was instrumental in the deal that resulted in Aquiline Capital Partners, a private investment firm based in New York City and London, investing in SageView in 2020, SageView said. Aquiline invests in financial services and technology firms. Since then SageView has exceeded the firm’s growth goals under its current three-year plan, successfully expanding by way of organic growth efforts and acquisition, SageView said.
"Since our launch 30 years ago, SageView has been driven by a passion for creating financially secure and fulfilling lives for individuals and households across the country. SageView has grown to be one of the nation’s top institutional retirement plan advisory firms, serving more than 2,100 plan sponsors as the fiduciary partner of choice to navigate the industry’s complexities,” Long said in a statement.
Prior to his role as president of SVB Private, Longley was head of SVB Private's Private Bank, Wealth and Trust unit. He also was president of the Western Region of Boston Private. He co-founded and served as CEO of Dobot, a digital financial advisory platform, which was acquired by Fifth Third Bank. Earlier in his career, he served as the head of private wealth at BlackRock/iShares and as CEO of Citi Private Bank N.A. at Citigroup.
“This is the ideal time for me to join SageView as CEO and continue the firm’s tremendous success experienced under Randy’s leadership. I am confident of our ability to accelerate growth as we launch the next phase of our long-term vision,” Longley said in a statement.
SageView advises on more than 2,100 defined contribution, defined benefit and deferred compensation retirement plans, representing about 1.7 million participants with $170 billion in assets, and provides wealth management and financial planning services through its wealth management business, which oversees $4 billion in client assets.
SageView has acquired nine firms since its partnership with Aquiline Capital Partners was formed in 2020.