Wealth Enhancement Group, an independent wealth management firm backed by TA Associates that oversees $20.3 billion in client assets, has acquired an independent registered investment adviser named 10-15 Associates with approximately $923 million in total client assets. Financial terms of the transaction, which is expected to close in the fourth quarter, were not disclosed.
The acquisition brings Wealth Enhancement Group’s footprint in New York to six offices. 10-15 Associates is headquartered in Goshen, New York with two additional locations in the broader Tri-State region, which encompasses the New York City area and portions of Connecticut, northern New Jersey and Long Island.
10-15 Associates was founded in 1986 by Deborah DeMatteo and Michael DeMatteo – the firm’s president and chief executive officer and chief financial officer and managing director, respectively.
The firm has grown to include 16 employees, including seven financial advisors who work with clients on matters such as wealth preservation, wealth transfer, tax mitigation, and asset protection.
Deborah DeMatteo said, “When we founded 10-15 Associates in 1986, we did so with a clear vision of always doing the right thing for our clients and making their success our highest priority. We held to that vision in considering potential strategic partners, as well, working every step of the way to ensure that our clients would continue to enjoy the same attention and exceptional service they have come to expect from us.”
The addition of 10-15 Associates brings Wealth Enhancement Group 36 total offices nationwide and eight in the Tri-State area.
Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services.