By: Mike Chard. Getting a handle on genuine financial wellness, and in particular on your plan participants’ budgeting, is key to freeing up sufficient amounts to grow their 401(k) accounts and ultimately achieve retirement readiness. If a holistic view of one’s financial position is critical to achieving this, and I believe it is, including managed accounts within a financial wellness program may be key to providing effective support in pursuit of such goals.   Click Here to Read the Full Article.

By: Tony Sabos   Many of the largest organizations today prioritize “financial well- ness,” that is, the optimization of their employees’ finances and retirement portfolio. These organizations consider financial wellness to be critical to the health of not only their employees but to the stability and health of the organization itself. Click Here to Read the Full Article.

• The deal is the latest transaction as part of a global M&A strategy for Smart.

• The announcement follows Smart’s recent $95 million Series E funding round and takes Smart’s global AUM above $10 billion.

May 31, 2023 / Nashville, TN / Smart, the global retirement FinTech that entered the US in 2020, has announced its latest strategic acquisition. The company has acquired ProManage, LLC (ProManage), an independent, US-based financial wellness services provider that offers managed accounts and other personalized retirement solutions to plan sponsors and their plan participants. This move follows a series of strategic transactions by Smart in the US and globally that have contributed to the company's growth.

The acquisition, which closed on May 31, 2023, follows the acquisition of Stadion Money Management in 2022, and makes ProManage a wholly-owned subsidiary of Smart. The acquisition of ProManage will bolster Smart's ability to offer a transformative suite of technology solutions across financial wellness, retirement asset accumulation and decumulation. With this acquisition, Smart global assets under management are now over $10 billion.^[1] The terms of the deal have not been disclosed.

ProManage's managed account products, technology and relationships, when combined with Stadion's suite of solutions, make Smart the 5th largest managed account provider in the US.^[2] The scale, brand, and enhanced toolset of the combined organization have global applicability. Moreover, through this acquisition, Smart gains access to experienced investment, actuarial and quantitative professionals, with the entire ProManage leadership team remaining in place.

“The acquisition of ProManage aligns with our commitment to delivering innovative retirement technology solutions that address the needs of plan sponsors and their plan participants,” said Jodan Ledford, CEO of Smart in the US. “This acquisition is a testament to our ongoing mission to close the coverage gap and provide better outcomes for participants as they save for, and spend through, retirement.  We are excited to bring the ProManage team into the Smart family, and we are united in our vision to transform the retirement marketplace.”

"This merger not only unites ProManage with a global leader in retirement technology, but also with a company that shares our commitment to providing participants with tailored financial solutions,” said Tony Sabos, co-founder and CEO of ProManage. "We are excited to partner with Smart to accelerate the expansion of our technology-enabled financial wellness, managed accounts and retirement income services and we look forward to supporting the company’s next stage of growth.”

MJR Capital LLC acted as financial advisor and ArentFox Schiff LLP acted as legal counsel to ProManage, LLC. Polsinelli PC acted as legal counsel to Smart with regard to this transaction.

About Smart

Smart is a global savings and investments technology provider. Its mission is to transform retirement, savings, and financial well-being, across all generations, around the world.

Smart partners with financial institutions (including broker-dealers, RIAs, retirement providers, insurers, asset managers, banks) and financial advisers to deliver retirement savings and income solutions that are digital, customized, and cost-efficient.

Smart, founded in the UK, operates in the USA, Europe, Australia, and the Middle East with over a million savers and over $5 billion in assets. Smart saw over 2,000% growth in assets on its platform since 2018. In 2022, Smart acquired Stadion Money Management to provide personalized investment solutions to participants. More detail is found below in the About Stadion section.

Legal & General, J.P. Morgan, Fidelity International Strategic Ventures, Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, DWS Group and Aquiline Capital Partners are all investors to date in Smart.

For more information, please visit www.smartretire.com.

About ProManage

ProManage, LLC, is the creator of BeFine™, a financial wellness app that gives employees a holistic view of their benefits, retirement readiness and financial accounts in one place, as well as their retirement solutions the ProManage PROgram™ and Vision. Headquartered in Chicago, ProManage is a federally registered investment adviser, which has been in business since 1998 (first as Strategic Financial Concepts, Inc., then ProManage, Inc. and ProManage, LLC). Registration with the United States Securities and Exchange Commission (SEC) does not connote a certain level of skill or training. Past performance is not a guarantee of future returns. All investing involves risk, including the risk of loss of principal. Additional information about ProManage can be found at https://promanageplan.com/, as well as at https://adviserinfo.sec.gov/firm/summary/133357.

About Stadion Money Management

Established in 1993, Stadion is headquartered near Athens, Georgia. Stadion works with financial professionals, asset managers, and recordkeepers to build custom retirement plan and participant level investment solutions. Stadion Money Management, LLC (Stadion) is a registered investment adviser under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. More information about Stadion, including fees, can be found in Stadion's ADV Part 2, which is available upon request. Visit Stadion Money Management at www.stadionmoney.com.

Past performance is no guarantee of future results. Investments are subject to risk, and any of Stadion's investment strategies may lose money. SMM-2305-40

Media contact for Smart

Heather Valle
Caliber Corporate Advisers for Smart
[email protected]

^[1] As of May 31, 2023
^[2] Source: Cerulli Associates, inclusive of Smart, Stadion and ProManage AUM. Assets include legacy Stadion managed account AUM.

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ProManage is excited to welcome Ethan Garcia, a new Data Analyst, to our growing team. He comes at the right time to help write, edit, and create documentation for scripts. He’ll also assist in the development of the Vision website while integrating automation for reports.

Prior to ProManage, Ethan obtained his bachelor’s degree in IT with a specialization in Data Studies at IUPUI (Indiana University-Purdue University of Indianapolis). Once graduating, he moved on to GRM Document Management as a data analyst and system administrator.

Ethan started in October 2022. We can’t wait to see all the great things he’s going to bring to the team and our clients.

We’re happy to announce that Jason Abrams has joined the ProManage team as an Investment Analyst. His skills and experience will play a crucial part in the investment team through his expert analysis of funds, models and forecast returns, all while optimizing allocation rulesets.

Before coming to ProManage, LLC., Jason worked within investment management and portfolio construction. He spent time handling assets for a family office, working with a variety of different assets and accounts. He also served as a member of the instructional team for a FinTech course that covered data analysis, machine learning and blockchain technology.

Jason got his start earning a BA in Biological Sciences from Northwestern University. There, he completed the FinTech certificate program and passed all three CFA exams.

He started on September 6, 2022 and we are looking forward to seeing how he will impact our team and bring even more value to ProManage’s clientele.

By Tony Sabos and Michael Chard (more…)