SageView Advisory Group announced today that it has acquired RBG, a San Diego-based institutional retirement plan consulting group with $5.2 billion in assets under advisement, which also includes a wealth management business with $63 million in assets under management.

The transaction is expected to close on June 30. Financial terms were not disclosed.

RBG was co-founded in 2010 by Tony Franchimone and Larry Deatherage to provide customized retirement plan consulting solutions, executive benefits and retirement management services to U.S. companies, the release noted. Both men will become managing directors at SageView and will be joined by three other team members: Cory McCarthy, retirement plan consultant; Winston Ventura, wealth advisor; and Rachel Hall., client services associate.

“We are thrilled to be joining SageView, and to work with individuals whose dedication to excellence matches our own. We are committed to doing what’s best for our clients and believe they will benefit most of all from this transaction,” Deatherage said in a statement.

Franchimone added, “SageView's centralized support teams in practice management, advisory services, marketing and business development provide the support we need to continue our growth and success serving retirement plan sponsors. We will also be able to evolve our wealth management technology and operations with SageView."

The acquisition is the ninth overall for the Newport Beach, Calif.-based SageView since July 2021 and since it established a partnership with Aquiline Capital Partners, a financial services and technology-focused private equity firm.

Randy Long, SageView's CEO, said RBG contributes to the firm’s overall and institutional channel growth strategy. “We have known Tony and Larry for many years and have great respect for the success they have achieved in working with institutional retirement plans and providing wealth management services," he said.

SageView has more than 30 offices nationwide and has served retirement plan sponsors and individuals throughout the U.S. since 1989.