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.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
