OneDigital continues to build its wealth management and benefits capabilities in the Middle Atlantic.
On Feb. 24, OneDigital Investment Advisors, a wholly owned subsidiary of OneDigital, announced that it has acquired Manasquan, NJ-based East Main Street Advisors, LLC. And on Feb. 17, OneDigital announced that it has acquired Bouchey & Clarke Benefits, Inc. (B&C), located in Troy, New York.
East Main Street is the fourth wealth management firm to join OneDigital in 2022. Along with the acquisitions of Gouldin & McCarthy, HM Capital Management, and Generations Wealth Planning, OneDigital Investment Advisors has added about $6.5 billion in assets between its individual and retirement plan business in 2022, according to the announcement.
“The partnership with East Main expands our capabilities in the northeast and emphasizes our commitment to ensuring that people of all ages and income levels have access to the financial advice that they need to navigate a maze of financial trade-offs and leave a lasting legacy for future generations,” David Hinderstein, Regional Senior Vice President of Retirement + Wealth at OneDigital, said in a statement.
“Joining forces with OneDigital, we now have the resources needed to create highly-personalized strategies to build, manage and preserve the wealth of our clients,” added Tom McEvoy, Managing Partner at East Main Street Advisors.
OneDigital Investment Advisors currently has more than $100 billion in AUA and consults on over 5,000 retirement plans with over 1 million participants and 15,000 individual accounts.
The Wise Rhino Group represented East Main in the transaction. The terms of the deal were not disclosed.
Bouchey & Clarke Benefits
Meanwhile, the acquisition of B&C further adds to OneDigital’s growth across New York State and will serve as a connection between existing upstate and downstate offices, according to the firm’s announcement.
For more than 20 years, B&C has served as a single-source provider for employee benefits and administration. Continuously recognized as one of the Top Brokers in New York’s Capital District, B&C delivers the highest level of brokerage and consultative services to protect the client’s bottom line.
B&C brings a diverse client base with privately held businesses, school districts, Board of Cooperative Educational Services institutions, municipalities, authorities and start-ups ranging in size from 2 to 500 employees that includes both union and non-union workforces. Additionally, B&C manages and administers the benefits programs for a number of Capital area Chambers of Commerce and performs retiree administrative billing services for large employers.
“The Bouchey & Clarke team possess a strong reputation and have always demonstrated tremendous professional expertise to clients in the marketplace. Aligning our culture, talent, and ever-expanding resources allows us to continue to deliver on the commitment to clients both locally and across our Greater New York footprint,” stated Bob Simeone, Managing Principal of OneDigital Greater New York.
Matt Clarke, Co-Founder and Vice President of Bouchey & Clarke Benefits, will continue to lead the Troy and Gloversville offices as Principal. Current Vice President of Sales Alison Gorton will also play a leadership role in the transition and beyond.
