DEERFIELD, Ill.--(BUSINESS WIRE)--Alera Group, a top national insurance and financial services firm, announced today the acquisition of Minnesota-based Advanced Capital Group (ACG). The acquisition adds $24 billion in retirement plan and wealth assets. Alera Group continues to grow in the Retirement and Wealth space, and this new acquisition brings Alera Group Retirement and Wealth Services to a total of $45 billion across both businesses.
ACG is a national leader in institutional investment consultants for employer-sponsored retirement plans, endowments and foundations, and Native American tribal trusts. ACG also manages fixed-income portfolios for defined-benefit plans and other institutional clients.
“In joining forces with Alera Group, we have the opportunity to help build one of the fastest-growing retirement plan services platforms in the country,” said Charles Langowski, Principal & CEO. “Our shared resources and expertise will enable us to deliver unparalleled service to our plan-sponsor clients in support of their employees’ financial futures.”
Over the past two years, Alera Group has implemented a Retirement Plan Services growth strategy that seeks to serve retirement plans of all sizes. The addition of ACG substantially increases the firm’s ability to deliver solutions to both the mid and large markets and unique asset management capabilities in the defined benefits space.
“Charles and the ACG team have built an incredible practice by delivering genuine expertise to both defined-contribution and defined-benefit clients, and I’m excited to welcome them,” said Christian Mango, Executive Vice President and National Practice Leader, Retirement Plan Services. “Their addition brings new capabilities to our platform, enhances our investment depth and expertise, expands our geographic reach, and adds a new distribution channel.”
The ACG team will continue serving clients in their existing roles. Terms of the transaction were not announced.
About Retirement Plan Services at Alera Group
Alera Group’s Retirement Plan Services division serves a wide variety of plans including 401(k), profit sharing, defined benefit, cash balance, 403(b), 457, PEP and deferred compensation. Advisors work with plan sponsors on plan design, financial wellness, investment analysis, benchmarking and fiduciary plan governance. Learn more at https://aleragroup.com/retirement-plan-services.
About Wealth Services at Alera Group
Alera Group’s Wealth Services division is dedicated to enhancing the financial security of clients through a holistic suite of services to address the financial planning and investment needs of individuals, families and organizations. Learn more at https://aleragroup.com/wealth-services.
About Alera Group
Alera Group is an independent financial services firm with approximately $1.4 billion in gross revenue, offering comprehensive property and casualty insurance, employee benefits, wealth services and retirement plan solutions to clients nationwide. Working collaboratively across specialties and across the country, Alera Group’s team of more than 4,400 colleagues offer unique solutions, personalized services and proactive insights to help ensure each client’s business and personal success. For more information, visit aleragroup.com and follow us on LinkedIn.
*Statistics accurate as of June 30, 2024.
