Wealth Enhancement Group Adds $1.3B Philadelphia Hybrid RIA
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Wealth Enhancement Group, a national independent wealth management firm, announced the acquisition of Levy Wealth Management Group, LLC, a hybrid RIA located in Philadelphia which oversees more than $1.3 billion in client assets.
The Levy Wealth Management Group team is led by President Victor Levy, CFP®, chief operating officer and wealth advisor; Michael Clatterbuck, CFP®, ChFC®, and wealth advisor; and Joseph Robostello, CFP®, ChSNC®. The acquisition marks Wealth Enhancement Group’s ninth location in Pennsylvania and brings the firm’s total client assets to more than $90.5 billion.
“We are incredibly pleased to welcome Levy Wealth Management Group to our firm,” said Jeff Dekko, CEO of Wealth Enhancement Group. “Victor, Michael, Joe, and their team have built a sophisticated practice rooted in personalized financial planning. They live their mission —’We Show We Care’—every day by building strong, sustainable client relationships.”
Levy Wealth Management Group was formed from Leon L. Levy and Associates, a life and disability insurance brokerage firm founded by Victor’s father, Leon L. Levy, in 1972. It provides comprehensive wealth management services and specializes in working with health care professionals, business owners, and others who are interested in wealth management, tax planning, estate planning, and holistic financial planning. Levy Wealth Management Group will operate as the Levy-Clatterbuck-Robostello Team at Wealth Enhancement Group.
“We are excited to embark on this new journey with Wealth Enhancement Group,” said Victor Levy. “The comprehensive resources the firm provides will enable us to further our mission of helping clients more efficiently reach their financial goals. Furthermore, we look forward to working alongside a team that shares our commitment to technological innovation, investment efficiency, and client care.”
The deal marks Wealth Enhancement Group’s eleventh RIA acquisition of the year and its largest so far. Recently, in July, WEG added its first Utah location by purchasing Rock House Financial, an independent RIA with $272 million in assets. In the same month, the company also bought Peak Financial Services, a $123 million hybrid RIA in Northborough, Mass., and Starfox Financial Services, an RIA with more than $254 million in assets in The Woodlands, Texas.
Founded in 1997, Wealth Enhancement Group is an independent wealth management firm offering comprehensive and customized financial planning and investment management services. Now serving more than 61,000 households, the company has 115 offices nationwide and is expanding through organic growth and acquisition.
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