OCIO Fiducient Advisors Acquires Plan Consultant Axia Advisory

Outsourced CIO provider and investment consultant Fiducient Advisors LLC, a unit of wealth management and advisory firm Wealthspire LLC, announced on Tuesday its acquisition of Indianapolis-based retirement plan consulting and advisory firm Axia Advisory Corp.

The acquisition of Axia will add $1.9 billion in assets under management and supervision to Wealthspire. Fiducient Advisors manages $410 billion, while Wealthspire manages and advises more than $580 billion in assets, including assets managed and advised by Fiducient.

Axia, founded in 1992, provides retirement plan services, including plan design; fee analysis; employee education; provider oversight and search; investment selection; and monitoring for plan sponsors, according to a statement from Wealthspire. The firm also offers investment consulting and discretionary investment management services for clients, as well as wealth management and financial planning for individuals and families.

“I’ve spent my career helping retirement plan sponsors and participants navigate an increasingly complex landscape,” said Axia Advisory President Keith Shadrick in a statement. “As part of Wealthspire, we can build on that foundation while enhancing our capabilities across retirement and private wealth and positioning the firm for long-term growth.”

The addition of Axia reflects the continued growth of Wealthspire’s institutional business, according to a statement from Wealthspire, which also stated that Axia clients will benefit from expanded access to Wealthspire’s broader resources.

“Keith and the Axia Advisory team have built a highly respected practice rooted in deep client relationships and fiduciary excellence,” said Mike Goss, Wealthspire’s chief revenue officer and president of institutional, in a statement. “Their experience serving retirement plan sponsors and participants, along with private wealth capabilities, makes them a strong cultural and strategic fit for our platform. We are excited to support their continued growth with expanded resources, research, and technology.”