Transactions

Park Sutton advises $550 Million Legacy Asset Management on its sale to OneDigital Investment Advisors

Park Sutton Advisors, a Waller Helms Company (“Park Sutton”) is pleased to have represented Legacy Asset Management, Inc. (“Legacy”) on its sale to OneDigital Investment Advisors LLC (“OneDigital”), a national investment adviser and wholly owned subsidiary of OneDigital, with over $100 billion in client assets. Legacy, led by Joe Birkofer, is an Independent RIA specializing in retirement plan consulting and wealth management with approximately $550 million in Assets Under Management and Administration (“AUM/A”) and headquartered in Houston, Texas. As part of the transaction, Christi Allen and Adriana Elwood, Legacy’s next generation leadership team, became partners in OneDigital.

Joe Birkofer, Founder and President of Legacy, said, “We know the workplace is the nucleus of America’s personal wealth creation. Legacy has played a part in the delivery of financial wellness that leads to secure retirements over the past quarter century. Throughout our clients’ careers and in retirement, Legacy has been honored to play a role in fostering financial security. Our partnership with OneDigital ensures that our clients will be at the forefront of wealth creation as we continue to grow.”

Kelley Snook, Senior Vice President of Retirement and Wealth at OneDigital, said, “I am excited to add this team of industry-recognized professionals to our OneDigital Houston family. Giving us a strong foothold in the wealth management and retirement services industry in Texas, a partnership with Legacy demonstrates our commitment to add value to our south-central clients by providing a full suite of offerings to best serve their needs.”

Matt Kempler, Park Sutton Director who led the transaction, said, “Joe and his team at Legacy have the unique opportunity to establish a foothold throughout the state as OneDigital’s first acquisition in Texas with wealth management capabilities. This transaction marks our sixth deal in Texas since the start of 2023 and further highlights Texas as one of the nation’s most sought-after markets.” Dan Erichson, Park Sutton Managing Director, added, “I first met Joe in 2018. It has been a pleasure developing a long-term relationship with him and extremely gratifying to see Legacy find its partner of choice.”