SageView Advisory Group, a California-based registered investment advisory firm, has acquired CAP STRAT, an Oakbrook Terrace, Ill.-based institutional retirement plan consulting and wealth management firm. Terms of the deal were not disclosed.
The acquisition adds to SageView’s existing retirement plan and wealth management business and expands its Midwest presence. CAP STRAT brings $25 billion in assets, including $750 million in wealth business and more than $24 billion in institutional assets under administration.
CAP STRAT consists of a team of 23 principals, consultants and team members that will join SageView. The CAP STRAT leadership team, including Barbara Best, Nancy Rizzuto, Alison Bettonville, Mike Rarey, Michael Warford and Neil Davies, became managing directors.
“The intersection of retirement planning and wealth management continues to become more pronounced as an increasing number of individuals accumulate significant savings in their defined contribution plans,” SageView CEO John Longley said in a statement. “Like SageView, CAP STRAT has focused on providing services and solutions in both areas.”
CAP STRAT was founded in 2003 by Will Woodall, Rizzuto and Best. Woodall passed away in 2024. The firm also provides discretionary asset management to institutional clients, a new capability for SageView.
SageView has been actively working to add wealth management capabilities alongside its retirement business since it established a partnership with financial services and technology-focused private equity firm Aquiline Capital Partners in early 2021.
The firm has been actively targeting wealth and retirement practices in geographically strategic areas where it can expand those services.
SageView is one of the original retirement plan advisor aggregators, alongside Captrust and what is now Hub. As of the end of 2024, the firm had $235 billion in assets under management and advisement.
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