Wealth Enhancement Group, a national wealth management firm overseeing more than $79 billion in assets, has bolstered its presence in the East by acquiring a Florida advisory practice, Piermont Wealth Management Inc., an independent registered investment advisor.
The addition of Piermont, with its $226 million in client assets, marks another chapter in Wealth Enhancement Group's strategic growth in Florida, where Piermont becomes its 12th office.
Piermont Wealth Management, with locations in Boca Raton and Melville, New York, is led by Philip J. Capell, its chief executive, whose resume includes 10 years as an estate planning attorney and a 24-year career as a financial advisor.
The firm has carved a niche for itself by offering comprehensive wealth management services, including investment management, retirement and financial planning, estate planning, and tax planning strategies, with a focus on pre-retirees in their last decade of work and retirees.
Founded in 2000, Piermont has dedicated over two decades to impacting its clients' financial well-being positively.
"We are confident that [Capell and his team’s] extensive knowledge and experience in the financial industry will benefit our firm as we seek to provide our clients with the best possible financial advice," Jeff Dekko, chief executive at Wealth Enhancement Group, said in a statement.
Capell said the integration with Wealth Enhancement Group will give his RIA access to a broader range of resources, including robust investment research, financial planning services, and experienced support staff, all aimed at enhancing client satisfaction and outcomes.
"We are very excited to join Wealth Enhancement Group,” Capell said. “We have been impressed with our colleagues at the firm, their commitment to success and their client-first philosophy."
Wealth Enhancement Group, which provides financial planning and investment management services to more than 55,000 households, gained a foothold in the Northeast in December with the acquisition of Asset Management Resources in Massachusetts.
Before that, it added another location in the West Coast when it snapped up KCS Wealth Advisory in Los Angeles.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
