Wealth Enhancement Group, an independent wealth management firm backed by TA Associates that oversees $19.4 billion in client assets, has purchased CJM Wealth Management, a hybrid registered investment adviser based in the New York Metro Area with $446 million in client assets. Financial terms of the transaction, which closed September 1, were not disclosed.
CJM Wealth Management has six employees, including two financial advisors, chief executive officer and founder Charles Massimo and managing director Peter Anastasian. Founded in 2003, the practice provides wealth management for individuals and families as well as 401(k) plan management. Its advisors have a long track record of working with physicians, and the practice plans to expand its presence in the region by adding additional advisors.
With the acquisition, Wealth Enhancement Group now has a third location in New York state and a fifth in the tri-state area, which encompasses the New York City area, portions of Connecticut, northern New Jersey and Long Island, where CJM Wealth Management is located.
“Charles Massimo, Peter Anastasian and their team have developed a strong practice over the years with a loyal client base in a highly competitive, growing market, and we look forward to supporting them as we work together to expand their service offering to clients and accelerate growth,” said Jeff Dekko, CEO of Wealth Enhancement Group.
CJM Wealth Management is Wealth Enhancement Group’s 33rd office nationwide.
Founded in 1997, Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services.