Independent RIA firm SageView Advisory Group recently hired Jim Dario as Head of Wealth Management following its strategy to grow as a comprehensive wealth solutions provider. Previously, Dario served as Head of Product Management & Strategy at TD Ameritrade Institutional.
With $175 billion in retirement plan assets and a partnership with private equity firm Aquiline Capital Partners, SageView set its sights on expansion of its wealth management business, having already reached $4 billion in assets through both organic and acquisitional growth with goals of robust expansion in 2022.
As Head of Wealth Management, Dario joins the firm to lead the next phase in SageView’s wealth management growth. According to the press release, Dario plans to grow the firm’s wealth management business with three initiatives: aiding the growth of current advisors, acquisitions of independent firms and support of retirement plan participants who show interest in financial planning.
Dario is the latest in a group of executive hires to SageView, including Jeremy Holly as Chief Development and Integration Officer (previously interviewed by WSR), Tony Notermann as CFO and Amy Barber as Vice President of Legal, Regulation and Compliance.
We spent time with Dario to learn about his plans for SageView’s wealth management business and how he intends to grow organically and inorganically.
WSR: We understand that you intend to grow SageView in part by leveraging retirement plan leadership into comprehensive wealth management. Can you tell us more about the driving trends that you see here and the steps you will take to capture that growth?
Dario: The reputation, trust and market share that SageView has built within the retirement community positions the firm to provide broader wealth management advice offerings and services. SageView focuses on the convergence of retirement and wealth by providing fiduciary advice to its plan sponsor clients and taking care of the financial needs of employees.
According to a recent Harris poll, seven out of 10 workers want a retirement planning solution that incorporates all aspects of financial wellness: retirement, planning solutions, healthcare, wealth and debt management, among others.
SageView’s approach is to position the workplace retirement plan at the center of a client’s wealth picture by integrating highly individualized data with the knowledge of their company’s benefit programs to provide a tailored, personal financial picture.
WSR: Why is SageView uniquely positioned to grow both organically and inorganically? What does SageView have that will attract partners for inorganic growth and wallet share for organic growth?
Dario: SageView is a well-respected thought leader within the retirement plan and wealth management communities and has been recognized by multiple industry groups for its outstanding adherence to a fiduciary standard of practice. This trusted relationship with institutions and individuals has supported SageView’s assets under advisement growth to $180 billion, and there is more opportunity for continued organic growth.
We support over 1,500 retirement plans with more than 1.5 million participants who need help reaching their financial goals, so we are seeking conflict-free fiduciary advisors to expand our coverage model.
Additionally, the recent investment and alliance by Aquiline Capital Partners will assist us in acquiring retirement and wealth management practices to expand and enhance our value proposition.
WSR: What is your vision for what SageView looks like in three years?
Dario: SageView recognizes the unrivaled opportunity that exists as one of the only firms offering this level of wealth and retirement expertise.
Through strategic organic and M&A-driven growth we will further leverage our retirement experience to provide wealth management services to a largely untapped market by delivering planning and conflict-free advice to help clients meet their financial goals and live their best lives.
Michael Madden, Contributing Editor & Research Analyst, can be reached at firstname.lastname@example.org