SageView Advisory Group, an independent registered investment advisory firm, announced that founder and current CEO Randy Long will assume the role of chairman of the firm and that John Longley, former private wealth head of the now defunct Silicon Valley Bank, will become chief executive officer effective Sept. 1, 2023.
SageView oversees $170 billion in assets and provides wealth management and financial planning services with its wealth management business, which oversees $4 billion in client assets. The company says these new appointments are expected to further fuel SageView’s ongoing expansion in wealth management, while reinforcing the firm’s leadership position in the retirement plan advisory space.
“Since our launch 30 years ago, SageView has been driven by a passion for creating financially secure and fulfilling lives for individuals and households across the country. SageView has grown to be one of the nation’s top institutional retirement plan advisory firms, serving 2,000 plan sponsors as the fiduciary partner of choice to navigate the industry’s complexities,” said Long.
Long, who founded SageView in 1989, invited Aquiline Capital Partners, a private investment firm based in New York and London that invests across financial services and technology, to partner with SageView in 2020. With Aquiline’s support, Sagepoint says Long and his team have “exceeded the firm’s growth goals under its current three-year plan, successfully expanding via organic growth efforts and acquisition.”
Longley most recently served as president of SVB Private, a division of First Citizens Bank & Trust Co. He held that leadership role after being promoted from head of SVB Private’s Private Bank, Wealth and Trust unit. His previous roles include president, Western Region of Boston Private, which he joined in 2019. He co-founded and served as chief executive officer of Dobot, a digital financial advisory platform, which was acquired by Fifth Third Bank. Earlier in his career, he served as the head of Private Wealth BlackRock/iShares and chief executive officer of Citi Private Bank N.A. at Citigroup.
SageView has acquired nine firms since its partnership with Aquiline Capital Partners was formed in 2020. These acquisitions include MJM401k of Arizona and Southern California, Bloomfield Hills Financial of Michigan, California, Colorado, Massachusetts and Texas, Channel Financial of Minnesota, kPlans Investment Services Inc. of California, Lakeview Wealth Management of Illinois, the advisors and assets of Capital One Investing based in New York, Florida, Tennessee, Maryland, Oklahoma, Virginia and Texas, Summit Financial Consultants of California and the founding team from RBG in California.
SageView Advisory Group LLC is an investment advisor registered with the U.S. Securities and Exchange Commission serving retirement plan sponsors and individuals throughout the United States since 1989. SageView is headquartered in Newport Beach, California, and has more than 30 offices nationwide.