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.
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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.
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