SOURCE: OneAmerica


September 30, 2015 17:01 ET

OneAmerica Closes Acquisition of BMO's U.S. Retirement Services Business

Fast-Growing Industry Leader Adds $26 Billion in Assets

INDIANAPOLIS, IN--(Marketwired - September 30, 2015) - OneAmerica announced today that it has completed its previously announced acquisition of BMO Financial Group's Milwaukee-based, U.S. retirement services business, now part of OneAmerica Retirement Services LLC. Terms of the agreement were not disclosed.

"We welcome BMO Retirement Services' clients, advisors and associates to the OneAmerica family, and we look forward to working together to achieve the retirement dreams of each plan participant we serve. This is our most important goal," said OneAmerica President and CEO Scott Davison, who took the helm as CEO last year. "Adding BMO's award-winning service team enhances OneAmerica's already strong position as a leader in the retirement services industry and complements our high-touch, relationship-based service model."

The acquisition increases OneAmerica's assets under administration by approximately $26 billion, bringing the company's total to more than $70 billion -- double the total less than two years ago.

"We're excited to grow our business with a team that shares our values and aligns with our business philosophy," said Bill Yoerger, president of the retirement services division for OneAmerica. "The acquisition reinforces our open architecture, defined contribution recordkeeping services, deepens our individually directed account leadership and creates additional scale."

BMO's U.S. retirement services business has more than 200 professionals serving approximately 830 plans. The retirement services businesses of OneAmerica serve more than 11,000 plans and have more than $30 billion in retirement assets under administration.

OneAmerica has announced that it will continue business operations from BMO Retirement Services' current locations, and most clients will continue to work with their current service teams.

In 2014, OneAmerica announced an agreement to acquire City National Bank's San Diego-based retirement services business, with 240 plans and $6.5 billion in assets under administration.

OneAmerica is the marketing name for the companies of OneAmerica.

About OneAmerica®
OneAmerica Financial Partners, Inc., headquartered in Indianapolis, Ind., has companies that can trace their solid foundations back more than 135 years in the financial services marketplace.

The OneAmerica companies offer a variety of products and services to serve the financial needs of their policyholders and customers. These products include retirement plan products and trust and record-keeping services; individual life insurance, annuities, asset based long-term care solutions and employee benefit plan products.

The products of the OneAmerica companies are distributed through a nationwide network of employees, agents, brokers and other distribution sources that are committed to increasing value to policyholders by helping them prepare to meet their financial goals. To learn more about our products, services and the companies of OneAmerica, visit, the OneAmerica Newsroom or follow @OneAmerica on Twitter.

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