Pensionmark Embraces Parent In Rebrand To World Investment Advisors

Change Emphasizes Links To Insurance Parent And Platform For Independent Advisors
Troy Hammond, CEO, World Investment Advisors
Troy Hammond, CEO, World Investment Advisors
Janeesa Hollingshead, Contributing Editor, Wealth Solutions Report
Janeesa Hollingshead, Contributing Editor, Wealth Solutions Report

Pensionmark Financial Group, the wealth management arm of World Insurance Associates, announced that it rebranded to World Investment Advisors. The move is intended to better represent the firm’s financial services platform for independent financial advisors and strengthen its alignment with its insurance brokerage parent company.

World acquired Pensionmark in March 2022. The firm has $55 billion in assets under advisement across its institutional and wealth management segments and 392 registered financial advisors. In the last two years, its wealth management division expanded from $1 billion in assets under management to $11.5 billion.

“Pensionmark has quietly but deliberately built itself into a full-service wealth management enterprise focused on serving fee-based advisors who support a sophisticated client base,” said Troy Hammond, CEO of World Investment Advisors. “Our advisors also benefit from the firm’s expertise in retirement plans, risk management and insurance solutions and from the significant, scalable and innovative resources made available through the fast-growing, well-resourced World organization.”

In a release announcing the rebrand, World Investment Advisors said it expects to lean on the solid foundation Pensionmark has established over the years and maintain its culture, core values and standards while continuing its organic growth and acquisition strategies.

In 2020, World Insurance Associates received investment from private equity firm Charlesbank Capital Partners, followed by an investment from Goldman Sachs Asset Management in 2023.

Anthony Arnold, Managing Director in Private Equity, Goldman Sachs Asset Management
Anthony Arnold, Managing Director in Private Equity, Goldman Sachs Asset Management

Anthony Arnold, Managing Director in Private Equity at Goldman Sachs Asset Management, said, “Since making our investment last year, we have been impressed with the accelerated growth of World’s wealth management capabilities, which further enhance the multi-faceted set of client offerings across World’s integrated platform. We are excited to continue to support World’s insurance and financial services solutions through our network and access to capabilities within Goldman Sachs.”

Hammond added, “We are extremely proud of our Pensionmark roots and maintain our commitment to implement innovative solutions for our advisors and their clients. While our name is changing, our exceptional people, culture and service experience will not. Our advisors and their clients expect and deserve nothing less.”

In March, Vestmark and Pensionmark announced a collaboration to create a digital wealth management platform.

Janeesa Hollingshead, Contributing Editor at Wealth Solutions Report, can be reached at editor@wealthsolutionsreport.com.

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