New brand better represents the company's
holistic financial services offering and creates more alignment
with parent company.
SANTA BARBARA,
Calif., July 10, 2024 /PRNewswire/ -- Pensionmark
Financial Group (Pensionmark), a leading financial advisory firm
and division of World Insurance Associates LLC (World),
announced today that it has rebranded to World Investment Advisors
LLC. This move better represents the firm's robust and holistic
financial services platform for independent financial advisors and
strengthens alignment with its parent company, one of the
fastest-growing insurance brokerages in the U.S.
World acquired Pensionmark in March 2022. Today, 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, the wealth management
division has grown its assets under management from $1 billion to $11.5
billion.
The decision to rebrand is a result of the firm's
incredible growth trajectory since its partnership with
World and is part of its ambitious plan to establish itself as a
premier destination for top-performing independent wealth
management practices. World Investment Advisors offers financial
advisors a "best of both worlds" proposition that combines
high-touch, personalized service experiences with centralized
technology and support.
"Between several pivotal acquisitions and recent
enhancements to our platform capabilities, we felt it was time to
move to a brand that reflects the evolution of the firm and
our vision for the future," said Troy
Hammond, CEO of World Investment Advisors. "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."
World Investment Advisors will be able to lean on
the solid foundation Pensionmark has established over the years and
maintain its culture, core values and high standards – all of which
will provide a springboard to continue its robust organic growth
and acquisition strategies.
Hammond added, "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. 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. Rebranding to World Investment Advisors
announces our value proposition to the marketplace."
World received significant investment from
private equity firm Charlesbank Capital Partners in 2020 and
Goldman Sachs Asset Management in 2023.
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."
David Katz,
Managing Director at Charlesbank Capital Partners, said,
"Pensionmark established itself as an industry leader by
consistently delivering exceptional client service to its
retirement and wealth advisory clients. Now, under the World brand,
the business is well positioned to further enhance its reputation
and capabilities. We believe that its continued integration into
the World family will create exciting opportunities for a
coordinated and comprehensive approach to serving client needs
across retirement, wealth, benefits and risk management."
The transition from Pensionmark to World
Investment Advisors is effective immediately. The firm will conduct
all future business under the new name while the company's
leadership, employees, office locations and legal documentation
remain unchanged.
_____
About World Insurance Associates LLC
World Insurance
Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked,
full-service insurance and financial services organization
providing individuals and businesses with top products and services
across personal and commercial insurance, employee and executive
benefits, retirement and financial planning services and human
capital management solutions. Since its founding in 2011, World has
completed more than 195 acquisitions and serves its clients from
more than 300 offices across the United
States. World is ranked #28 on the 100 Largest Brokers of
U.S. Business list by Business Insurance, ranked #15 on the
Top 100 P&C Agencies by Insurance Journal and ranked #19
on the Top 50 Personal Lines Agencies by Insurance Journal.
For more information, please visit www.worldinsurance.com.
About World Investment Advisors
LLC
World Investment Advisors, formerly Pensionmark
Financial Group, is a network of more than 350 advisors and staff
across more than 65 U.S. locations with thousands of retirement
plan and wealth management clients. The World Investment Advisors
network of professionals includes wealth management, defined
contribution, defined benefit, terminal funding, not-for-profit and
executive/deferred compensation specialists. For more information,
please visit www.worldadvisors.com.
Advisory services offered by World Investment
Advisors, LLC. Securities offered by Pensionmark Securities,
LLC, member FINRA/SIPC. World Investment Advisors, LLC is
affiliated through common ownership with Pensionmark Securities,
LLC.
Media Contact
Donald
Cutler
Haven Tower Group
424-317-4864
dcutler@haventower.com
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SOURCE Pensionmark