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SageView Advisory Group says it has acquired a California-based wealth management practice.

Founded in 2005, Valencia, California-based kPlans Investment Services, previously known as Pensionmark LA, offers retirement plan consulting, focusing on defined benefit and cash balance plans, and has a growing wealth practice, overseeing more than $825 million in client assets, according to SageView.

KPlans founder Steve Sansone will become a managing director at SageView, the company says.

“The industry is clearly moving towards the intersection of retirement and wealth,” Sansone said. “SageView not only has the vision and the tools to effectuate positive change in this new paradigm but also the actual and intellectual capital to make a substantial impact in the lives of our clients and their employees.”

SageView did not disclose the financial terms of the deal.

The acquisition is part of SageView’s mergers-and-acquisitions growth strategy in collaboration with private equity firm Aquiline Capital Partners, SageView says. The latest addition is SageView’s fifth since July 2021, according to the firm.

Formed in 1989, Newport Beach, California-based SageView now has over 30 offices and more than $170 billion in retirement assets and $4 billion in advisory assets under management, according to the firm.

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