Wealth Enhancement Group, an independent wealth management firm that oversees USD20.3 billion in client assets, has acquired 10-15 Associates, an independent registered investment adviser (RIA) with approximately USD923 million in total client assets. Financial terms of the transaction, which is expected to close in the fourth quarter of this year, have not been disclosed.
The acquisition brings Wealth Enhancement Group’s footprint in the strategically vital state of New York to six offices. The firm has two additional locations in the broader Tri-State region, encompassing the New York City area and portions of Connecticut, northern New Jersey and Long Island. The region has been a particular area of focus for Wealth Enhancement Group, with today’s announcement building on its acquisition of CJM Wealth Management in Deer Park, NY in September.
The addition of 10-15 Associates further demonstrates Wealth Enhancement Group’s commitment to building significant scale in strategic markets across the country as it expands its position as a leading national wealth management and financial planning brand.
Founded in 1986 by Deborah DeMatteo, CFP and Michael DeMatteo – the firm’s President and CEO and Chief Financial Officer and Managing Director, respectively – 10-15 Associates has grown to include 16 employees, including seven financial advisors. The firm specialises in helping families, business owners, and other professionals protect and grow their assets, solve complex financial challenges, and retire with confidence. 10-15 works collaboratively with clients on matters such as wealth preservation, wealth transfer, tax mitigation, and asset protection to help clients achieve their goals.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, says: “We are delighted to welcome 10-15 Associates to the Wealth Enhancement Group team. As we have continued to expand our footprint across the country and in the New York/Tri-State region specifically, we have been very deliberate in identifying and partnering with exceptional advisors who bring as much to our team as our strategic growth initiatives and back office capabilities add for them and their firms. Deborah, Michael and all the professionals at 10-15 Associates exceeded our expectations, and we are eager to help them further accelerate their growth as part of our platform.”
Deborah DeMatteo says: “When we founded 10-15 Associates in 1986, we did so with a clear vision of always doing the right thing for our clients and making their success our highest priority. We held to that vision in considering potential strategic partners, as well, working every step of the way to ensure that our clients would continue to enjoy the same attention and exceptional service they have come to expect from us. Wealth Enhancement Group shares our commitment to putting clients first, and I am thrilled to partner with them to drive an even better experience for the families, business owners and other professionals we serve.”
Michael DeMatteo says: “Wealth Enhancement Group has been very successful in establishing themselves as a leading national wealth management and financial planning brand, and the platform they have developed is a great addition to our brand. The back office, marketing and financial planning capabilities we’ll be able to leverage as part of the Wealth Enhancement Group team, will bring tremendous benefits for both our firm and the clients we serve. The technology and growth vision they have laid will help position us for the future, and I have no doubt that we will accomplish great things together going forward.”
