MINNEAPOLIS, June 10, 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced that it has acquired MACRO Consulting Group (MACRO), an independent hybrid registered investment adviser (RIA) based in Parsippany, N.J. with over $900 million in total client assets. Upon the closing of the transaction, Wealth Enhancement Group's total client assets are expected to exceed $35.5 billion.*
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "On behalf of our entire team, I'm pleased to welcome MACRO Consulting Group to the Wealth Enhancement Group platform. I've known MACRO's founder, Mark Cortazzo, for many years, and have always been greatly impressed with his intellect and skill in building his business. MACRO's nearly 30-year history of helping clients address risk and build wealth is a natural cultural fit with our firm, and I look forward to supporting their team as we work together to continue to grow our footprint in the critically important Tri-State area. We and our capital partner, TA Associates, continue to be fully focused on executing our growth strategy by accelerating our pace of acquisitions across the country, as well as by promoting organic growth."
Mark Cortazzo, CFP®, CIMA®, founded MACRO in 1992 with a sharp focus on comprehensive wealth management and financial planning for affluent retirees and the "millionaire next door." Mr. Cortazzo, a winner of numerous wealth management industry awards, has been recognized on the Barron's Top Advisor list for 11 years (including five years as the #1 independent advisor in New Jersey) and named one of America's Top 250 Wealth Advisors by Forbes for four years. He serves as the firm's Senior Partner and leads the firm with Nick Spagnoletti, Jr., CFP®. Both advisors have over 30 years' experience in the financial services industry.
Upon the closing of the transaction, the MACRO team of 24 individuals, including five financial advisors, will join Wealth Enhancement Group, and will operate under the Wealth Enhancement Group brand as the MACRO Team.
Mark Cortazzo said, "Over the past three decades, our successful approach to managing risk has helped us establish MACRO Consulting Group as a trusted long-term partner to the clients we serve. In looking ahead to the next stage in our growth story, we could not have found a better partner than Jeff Dekko and his team at Wealth Enhancement Group. We are extremely proud of the nationally recognized practice we have built in the Tri-State area, and we are confident that the technical, back office and consulting support we will receive from Wealth Enhancement Group will empower our continued growth as we seek to further elevate the client service experience we provide."
Financial terms of the transaction were not disclosed. MACRO Consulting Group was represented by Lowenstein Sandler LLP. The transaction is expected to close on July 1, 2021.
About Wealth Enhancement Group
Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, Wealth Enhancement Group serves clients nationwide. Wealth Enhancement Group specializes in providing retail clients with the team-based knowledge and resources they need to simplify their financial life. For more information, please visit www.wealthenhancement.com.
Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain, but not all, investment advisor representatives (IARs) of WEAS are also registered representatives of and offer securities through LPL Financial, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial. Wealth Enhancement Group is a registered trademark of Wealth Enhancement Group, LLC.
*Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $31.6 billion in client brokerage and advisory assets as of 4/30/2021. MACRO Consulting Group had $901 million in client assets as of 3/31/2021. With the expected closing of other previously announced transactions and the MACRO Consulting Group closing on 7/1/2021, Wealth Enhancement Group plans to have $35.5 billion in client brokerage, advisory and trust assets as of 7/1/2021.
Joseph Kuo / Chris Clemens
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SOURCE Wealth Enhancement Group