SageView Advisory Group, a leading Newport Beach, Calif.-based RIA specializing in both retirement consulting and wealth management, has acquired Capital Strategies Investment Group—known as Cap Strat—bringing an additional $25 billion in advised assets under its umbrella.
The deal, finalized Aug. 12, significantly strengthens SageView’s presence in the competitive Chicago market and adds a 23-member team of seasoned retirement and wealth professionals.
Cap Strat, headquartered in Oakbrook Terrace, Ill., is a well-established retirement plan consultancy and wealth management firm founded in 2003. While the bulk of its advised assets are tied to institutional retirement plans, its retail wealth management practice manages approximately $750 million. This dual structure mirrors SageView’s own service model, which blends large-scale retirement plan advisory capabilities with personalized wealth management for individuals and families.
According to SageView’s most recent Form ADV, the firm oversees nearly $239 billion in assets, with approximately $226 billion in pension and profit-sharing plans. This scale places SageView among the largest independent retirement plan consultants in the country, with a growing footprint in the private wealth segment.
For SageView CEO John Longley, the acquisition is more than an asset boost—it’s about deepening expertise at the convergence of two closely linked advisory disciplines.
“The intersection of retirement planning and wealth management continues to become more pronounced as an increasing number of individuals accumulate significant savings in their defined-contribution plans,” Longley says. “Like SageView, Cap Strat has built its reputation on delivering solutions in both areas, making this a natural fit.”
Longley, who joined SageView after leading SVB Private (later absorbed into First Citizens Bank & Trust following the Silicon Valley Bank collapse in 2023), has made strategic expansion through acquisition a priority. The Cap Strat deal aligns with that vision, reinforcing SageView’s market reach while enhancing its ability to serve clients from accumulation to distribution phases.
Leadership and Team Integration
Cap Strat’s six partners—Barbara Best, Nancy Rizzuto, Alison Bettonville, Mike Rarey, Michael Warford, and Neil Davies—will transition into managing director roles within SageView. Alongside their team of consultants and support staff, they will maintain client relationships while tapping into SageView’s national resources and infrastructure.
The leadership team emphasizes that cultural alignment and a shared client-first philosophy drove the decision to partner.
“Right away, we felt a connection and recognized how well our teams would work together,” says Rizzuto. “Joining SageView will allow us to deliver even greater value to our clients through deeper resources, broader experience, and a continued commitment to fiduciary excellence.”
Best adds that the move positions Cap Strat to expand service offerings without compromising the high-touch advisory model that has fueled its success. “Our clients benefit most when we can combine personalized guidance with the capabilities of a larger organization,” she says.
Strategic Synergies for Retirement Plan Sponsors
For retirement plan sponsors, the integration means enhanced access to investment research, plan design expertise, participant engagement tools, and fiduciary governance support. Cap Strat’s long-standing institutional relationships in the Midwest complement SageView’s national network, offering plan sponsors broader benchmarking insights and best practices.
Both firms bring to the table a track record of advising on complex defined-contribution and defined-benefit plans, nonqualified plans, and endowment and foundation portfolios. The combined entity will be well-positioned to advise plan committees on investment menu construction, provider searches, fee benchmarking, and regulatory compliance.
Expanded Capabilities for Private Wealth Clients
On the wealth management side, Cap Strat’s high-net-worth and emerging affluent clients will gain access to SageView’s expanded investment platform, including direct indexing, ESG integration, private market opportunities, and advanced financial planning tools. The merger also enhances capabilities in tax-aware portfolio construction, estate and legacy planning, and multigenerational wealth transfer strategies.
As retirement plan participants transition into retirement, SageView and Cap Strat advisors will be better equipped to provide seamless rollover strategies, distribution planning, and customized income solutions. This end-to-end service model is increasingly valuable as more Americans rely on workplace savings as their primary source of retirement income.
Market Implications for RIAs and Aggregators
This transaction reflects ongoing consolidation trends within the RIA and retirement consulting sectors. Large independent firms are increasingly seeking to integrate retirement plan expertise with private wealth capabilities, enabling them to serve clients throughout the full wealth lifecycle. For RIAs, such acquisitions offer scale benefits, operational efficiencies, and enhanced client retention as participants graduate from the retirement plan channel into direct advisory relationships.
SageView’s acquisition of Cap Strat is also a competitive signal to other aggregators and national RIAs eyeing the retirement market. Chicago, with its dense corporate presence and strong base of plan sponsors, remains a strategic hub for retirement consulting. By adding a respected local leader, SageView positions itself as a go-to provider for both institutional and private wealth clients in the region.
Commitment to Fiduciary Standards
Both SageView and Cap Strat share a long-standing commitment to fiduciary excellence—an increasingly important differentiator in an environment of heightened regulatory scrutiny and evolving client expectations. The integration preserves each firm’s consultative approach while adding scale and resources to support rigorous investment due diligence, fee transparency, and participant education initiatives.
In a joint statement, the leadership teams underscored their shared belief that size should not dilute client focus. Instead, they see the expanded platform as a way to deepen personalized service. “Every client interaction is still grounded in trust, independence, and the fiduciary duty to put their interests first,” Best says.
Looking Ahead
With the acquisition complete, SageView plans to prioritize integration that maintains continuity for clients while unlocking new service capabilities. Initial efforts will focus on aligning technology platforms, expanding investment menus, and cross-training advisory teams to deliver a consistent client experience across all offices.
Longley views the deal as part of a broader growth strategy aimed at cementing SageView’s leadership in both retirement and wealth management.
“We believe the advisory landscape is moving toward firms that can seamlessly bridge the gap between workplace savings and personal wealth,” he says. “Cap Strat accelerates our ability to be that bridge for more clients.”
For wealth advisors, the SageView-Cap Strat combination serves as a case study in how strategic acquisitions can both scale a business and sharpen its value proposition. It illustrates the competitive advantage of uniting institutional and individual advisory capabilities under a single, integrated platform—particularly as client needs evolve across different life stages.
By leveraging their combined expertise, resources, and market presence, SageView and Cap Strat are poised to deliver a more comprehensive, high-impact advisory experience to retirement plan sponsors, individual investors, and the next generation of wealth holders. The partnership underscores a broader industry shift toward holistic, lifecycle-based advice—and positions the merged firm to be a leader in that transformation.
