OneDigital and The Huntington National Bank Form Strategic Relationship For 401(K) Advisory and Retirement Plan Servicing Business
Brings $5.6 Billion AUM and 18 Advisors to the OneDigital Platform
ATLANTA, GEORGIA AND COLUMBUS, OHIO – April 11, 2023 - OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital, a leading insurance brokerage, financial services and HR consulting firm (“OneDigital”), today announced it has acquired Huntington National Bank’s (Huntington) 401(k) advisory and retirement plan servicing business. Huntington is the wholly owned banking subsidiary of Huntington Bancshares Incorporated (Nasdaq: HBAN) in Columbus, Ohio.
This transaction enables Huntington Employee Benefits to strategically partner with OneDigital to drive additional scale to benefit their 1,300 employers who sponsor workplace savings plans. Following a six-year trusted business relationship, this extended relationship will capitalize on OneDigital’s ability to deliver a broader platform of offerings and drive business growth for employers of all sizes. With OneDigital’s 19 offices in OH, PA and MI, the addition of Huntington’s retirement teams will bolster OneDigital’s current teams, specifically those in Columbus, Cleveland, Detroit and Pittsburgh.
“Huntington and OneDigital share a commitment to serving the financial needs of working Americans, their advisors and employers. The addition of Huntington’s retirement plan business will create an even stronger service organization at OneDigital. We are excited to welcome the retirement plan employees from Huntington to the OneDigital Family and look forward to supporting the team in their continued service of our clients. We will continue to expand our capabilities for these plan sponsors, enhance our financial wellness and advice offerings and accelerate our value creation for all our stakeholders,” said Vincent Morris, President Retirement + Wealth, OneDigital.
“Huntington is strengthening our commitment to this business when many of our competitors are walking away. We started this journey the middle of last year, with a goal to strategically partner with a company that shares Huntington’s vision to provide retirement plan solutions that create value for our clients by keeping them at the center of all we do, and we found that with OneDigital,” said Michael Robinson, Executive Vice President, Director of Wealth Management at Huntington. “It is our collective goal to ensure our clients receive the same high standard of service they expect, while gaining the technological excellence and deep product capabilities offered by OneDigital.”
After the transition, the addition of Huntington’s $5.6 billion in retirement plan assets under management brings OneDigital’s assets under management to approximately $115.4 billion, representing over one million participants and 41,000 individual accounts.
The transaction closed on March 31, 2023. The terms of the agreement were not disclosed.
OneDigital is a steward of business growth and people potential. Our insurance, financial services and HR platform provide personalized, tech-enabled solutions for a contemporary work-life experience. Nationally recognized for our culture of caring, OneDigital’s teams enable employers and individuals to do their best work and live their best lives. More than 100,000 employers and millions of individuals rely on our teams for counsel and access to fully integrated worksite products and services and the retirement and wealth management services provided through OneDigital Investment Advisors. Founded in 2000 and headquartered in Atlanta, OneDigital maintains offices in most major markets across the nation. To learn more, visit www.onedigital.com.
Investment advice offered through OneDigital Investment Advisors, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $183 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle‐market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.
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Released April 11, 2023