Houlihan Lokey Advises Stadion Money Management

Houlihan Lokey is pleased to announce that Stadion Money Management (Stadion), a portfolio company of TA Associates, has been acquired by Smart, a global retirement technology provider that offers modular ways to build scalable, customized retirement solutions. Stadion is an independent managed account provider that offers retirement services to plan sponsors and participants, recordkeepers, asset managers, and advisors. The transaction closed on March 9, 2022.

This adds to Houlihan Lokey’s franchise in the wealth and retirement sector advising on other transactions, including:

• Tiedemann merging with Alvarium Investments in a SPAC transaction
• RetireUp’s sale to Tegra118, a portfolio company of Motive Partners
• Wren Sterling in its sale to Lightyear Capital
• Ascot Lloyd, a portfolio company of Oaktree, raising financing from Ares

Established in 1993, Stadion is headquartered near Athens, Georgia. Stadion manages $2.3 billion in assets and over 4,000 plans. TA Associates is a majority shareholder in Stadion.

Stadion’s technology and managed account knowledge will bolster Smart’s ability to offer a transformative suite of retirement technology that will help participants save and meet their objectives for, and spend confidently through, retirement. Through Stadion, Smart will gain 40 talented professionals, doubling the U.S. team to more than 80 employees. Stadion’s office near Athens will become a new footprint for Smart, extending the reach from its Nashville headquarters. The entire Stadion leadership team and staff will remain in place.

"We are thrilled to partner with Smart, a firm with a tremendous global presence,” said Jud Doherty, President and CEO of Stadion. "Leveraging innovative technology, there is an incredible opportunity to deliver scalable and personalized retirement solutions to even more Americans. The combined team of Smart and Stadion will be extremely well positioned to serve the evolving needs of recordkeepers, asset managers, advisors, plans sponsors, and ultimately their participants.”

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. Founded in the U.K., Smart operates in the USA, Europe, Australia, and the Middle East with close to a million savers entrusting over $3 billion in assets on the platform.

Smart supports its clients with a 650 strong global team and saw over 2,000% growth in assets on its platform since 2018. Smart partners with financial institutions (including broker-dealers, RIAs, retirement providers, insurers, asset managers, and banks) and financial advisors to deliver retirement savings and income solutions that are digital, customized, and cost efficient.

“This acquisition marks a pivotal moment for Smart and also an important moment in combining tech, talent, and resources to make a difference in retirement savings for Americans,” said Jodan Ledford, CEO of Smart in the U.S. “Stadion's strong track record in managed accounts and personalization will enhance our capabilities in delivering personalized solutions, including retirement income. We are excited to bring aboard the full Stadion team, who are united in our vision to transform the retirement marketplace. I have no doubt that our people-first and tech-forward cultures align well.”

Houlihan Lokey served as the exclusive financial advisor to Stadion.