Wealth Enhancement Group, a Minneapolis-based hybrid registered investment adviser, has acquired Macro Consulting Group, a Parsippany, New Jersey-based hybrid managing $900 million.
After the close of the transaction, terms of which were not disclosed, Wealth Enhancement Group’s assets under management are expected to exceed $35.5 billion, the company said in a release.
Mark Cortazzo, who founded the now 24-person firm in 1992 and led it with Nick Spagnoletti, will join Wealth Enhancement Group. Both Cortazzo and Spagnoletti have more than 30 years of experience.
The firm will operate under the Wealth Enhancement Group brand as the Macro Team.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
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