SAGEVIEW ENTERS IN DEFINITIVE AGREEMENT TO ACQUIRE $900M IN PORTFOLIO AUM FROM CAPITAL ONE INVESTING

SageView to welcome the Wealth Management team from Capital One Investing as part of the transaction

NEWPORT BEACH, California – In December 2021, SageView Advisory Group executed definitive agreements with Capital One Investing to acquire investing client portfolios representing $900M in AUM.

Capital One Investing, a direct subsidiary of Capital One Financial Corporation, is an SEC-registered investment adviser that offers portfolio management and financial planning services to clients. SageView will also welcome the Wealth Management team supporting these clients as part of the transaction, bringing on professionals located across the country, including Maryland, New York, Oklahoma, Tennessee, Texas, and Virginia.

Randy Long, SageView Founder and Managing Principal, added: “This acquisition directly aligns with our strategic vision to expand the wealth management division at SageView and brings a talented group of financial advisors to the team while expanding our presence nationally.”

The acquisition of Capital One Investing’s client portfolios is in line with SageView’s growth strategy to continue expanding its wealth management arm through recruiting and acquisitions. This is the fourth acquisition that SageView has announced since July 2021 and follows closely on the heels of the recently closed acquisition of Channel Financial in Minnesota, announced on January 6, 2022.

Clients can expect to continue to receive the same high level of financial advice and service provided by their wealth management team, and enjoy the benefits of SageView’s full-service financial planning, including investment portfolio construction, asset protection, disability and income planning, debt management, and estate planning.

The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.

Bryan Cave Leighton Paisner LLP served as legal advisor to SageView on the transaction. Centerview Partners served as financial advisor to Capital One and Wachtell, Lipton, Rosen & Katz served as legal advisor to Capital One on the transaction.