Wealth Enhancement Group has deepened its presence in Pennsylvania with its latest acquisition.
The national independent wealth firm announced Thursday that it has snapped up Levy Wealth Management Group, a hybrid RIA based in Philadelphia. The acquisition adds over $1.3 billion in client assets to Wealth Enhancement Group’s portfolio, bringing its total assets under management to more than $90.5 billion.
Levy Wealth Management Group, led by president Victor Levy along with Michael Clatterbuck and Joseph Robostello, will now operate as the Levy-Clatterbuck-Robostello Team. The firm specializes in working with healthcare professionals, business owners, and multi-generational families, offering comprehensive financial services such as wealth management, tax planning, estate planning, and holistic financial strategies.
"We are incredibly pleased to welcome Levy Wealth Management Group to our firm," Jeff Dekko, chief executive officer of Wealth Enhancement Group, said in a statement. "Victor, Michael, Joe, and their team have built a sophisticated practice rooted in personalized financial planning."
Levy Wealth Management Group traces its origins back to Leon L. Levy and Associates, a brokerage firm founded in 1972 by Victor Levy's father. Over the years, the firm evolved into a wealth management practice, continuing to focus on personalized financial planning and client care.
Levy expressed enthusiasm for the partnership, stating: "The comprehensive resources [Wealth Enhancement Group] provides will enable us to further our mission of helping clients more efficiently reach their financial goals."
The acquisition marks Wealth Enhancement Group's ninth location in Pennsylvania, as the firm continues to expand its presence along the east coast.
The national independent has been on a tear with acquisitions this years, with some of its most notable deals including a $1.22 billion Texas RIA in May and a $658 million ex-Raymond James team in June.
Wealth Consulting Group, Coastline and Maridea report fresh capital, acquisitions and asset growth as advisor M&A keeps climbing
Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.
New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.
Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.
How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
