OneDigital is looking to boost its merger and acquisition work in wealth, workplace retirement and related financial services firms by hiring Christian Mango from competitor Alera Group, where he had been spearheading a similar effort for a little under three years.
Mango will be senior vice president of corporate development for Atlanta-based OneDigital, which has about $143 billion in assets under management and advisement, according to its latest ADV.
In the new role, he will lead strategic M&A for OneDigital as it seeks to compete with firms also seeking to acquire RIAs and adjacent financial services firms, including industry behemoths Captrust, Hub International, SageView Advisory Group and World Insurance Associates. M&A expertise and experience are at a premium in the RIA sector as more acquirers and private equity money chase deals, and dealmaking continues to hit records.
Part of Mango’s role will be identifying RIAs and other financial services firms that fit OneDigital’s strategy of combining health, wealth and retirement services.
“Leading retirement programs are moving toward a convergence model integrating health, wealth and benefits, because true financial well-being is inseparable from overall well-being,” Mango said in a statement. “OneDigital is at the forefront of this shift, and I am excited to help drive its next phase of strategic growth.”
Mango previously ran a financial education and planning subsidiary of Prime Capital called Financial Fitness for Life and spent more than eight years in BlackRock’s defined contribution practice.
OneDigital made a splash in the North American market in January with the acquisition of PWL Capital, a C$5.5 billion firm based in Montreal, Canada. The firm had over 70 employees and more than 2,300 clients, and adds to OneDigital’s plan to expand in Canada across employee benefits, property and casualty insurance and consulting companies.
OneDigital’s U.S.-based RIA division, OneDigital Investment Advisors, has also been active in acquiring wealth and retirement firms in the U.S. from its headquarters in Overland Park, Kan. That unit, however, lost two senior-level retirement plan advisor leaders late last year.
Jania Stout, who had been a senior vice president of retirement and wealth at OneDigital, left to lead Prime Capital Financial’s retirement plan consulting business and financial wellness division. David Montgomery, formerly a director of retirement investment services, left for Concurrent Investment Advisors to be managing director of retirement plan services.
According to its public announcements, Alera Group has most recently been acquiring insurers. But in 2024, under Mango, it acquired an $800 million retirement plan advisory based in Boston called Strategic Retirement Plan Consultants. In 2023, he oversaw the acquisition of a $1.3 billion RIA with the Virginia Beach, Va.-based The Ascent Group.
The firm did not immediately respond to a request for comment on his replacement.
#OneDigital #Hires #Leader #Mango #Competitor #Alera #Group