Global Retirement Technology Provider Smart Enters

The deal doubles the size of Smart’s US team and provides enhanced capabilities in personalization at scale for retirement solutions

Smart, a global retirement technology provider that offers modular ways for financial institutions, including recordkeepers, advisors, and asset managers to build scalable, customized retirement solutions, announced it has agreed to acquire Stadion Money Management (“Stadion”) through Smart’s US subsidiary. Stadion is an independent managed account provider, with $2.3 billion in assets under management and over 4,000 plans (as of November 30, 2021), that offers retirement services to plan sponsors and participants, recordkeepers, asset managers, and advisors. The acquisition marks the latest in a series of milestones for Smart globally, including realizing a growth of 2,000%* in AUM over the past three years. Today’s announced transaction is slated to close Q1 2022, and the terms of the deal are not disclosed. Stadion will become a wholly-owned subsidiary of Smart. As part of the transaction, funds managed by TA Associates will sell 100% of their ownership 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. Smart will gain 40 talented professionals through Stadion, doubling the US team to more than 80 employees. Stadion’s office near Athens, Georgia 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.

“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 US. “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.”

“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 has ambitions to further its growth in the US and will seek to align with additional like-minded strategic partners who share a vision for transforming retirement savings.

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 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.

Legal & General, J.P. Morgan, the Link Group, Barclays, Natixis Investment Managers, Chrysalis Investments, and DWS Group are all investors to date in Smart. Broadhaven Capital Partners and Polsinelli PC acted as financial and legal advisors, respectively, to Smart for this transaction.

Established in 1993, Stadion is headquartered near Athens, Georgia. Stadion works with financial professionals, asset managers, and recordkeepers to build custom retirement plans and participant level investment solutions.

For Stadion, Houlihan Lokey and Goodwin Procter acted as financial and legal advisors, respectively.