Wealth Enhancement Group Announces Acquisition of M&R Capital Management, Inc., an Independent RIA with Over $536 Million in Client Assets

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Nov 07, 2024, 08:00 ET

This partnership marks Wealth Enhancement Group's sixth location in New Jersey and brings the firm's total client assets to more than $96.6 billion.

MINNEAPOLIS, Nov. 7, 2024 /PRNewswire/ -- Wealth Enhancement Group, a national independent wealth management firm with over $96.6 billion in client assets, has announced the acquisition of M&R Capital Management, Inc., an independent RIA in Summit, New Jersey. The team of three financial advisors and three support staff oversees more than $536 million in client assets and is led by John Maloney, Chairman and Chief Executive Officer.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "John and his team are an excellent addition to our firm. We are pleased that they've chosen to join Wealth Enhancement Group. Through our partnership, they can access our extended suite of central services and free up more time to invest in strengthening client relationships and growing their practice."

M&R Capital Management was founded in 1993 with integrity, client centricity, and community involvement at the forefront of their practice. The firm offers customized financial solutions to their clients including investment management, separate account management, and retirement planning. The team has specific experience working with high-net-worth individuals, pilots, business owners, and non-profit organizations.

John Maloney, Chairman and Chief Executive Officer of M&R Capital Management, said, "This acquisition represents an exciting new chapter for our firm and our clients. By joining forces with Wealth Enhancement Group, we're able to enhance our services, expand our resources, and continue to provide personalized financial strategies. Our clients will benefit from the added scale and solutions while maintaining the high level of care and attention they've come to expect from us."

Jim Cahn, Chief Strategy Officer of Wealth Enhancement Group, said, "Joining forces with M&R Capital Management will bolster our presence in New Jersey, allowing us to serve more individuals in the Tri-State Area and beyond. We look forward to the deep experience and sophistication the team will bring to Wealth Enhancement Group."

The acquisition of M&R Capital Management marks Wealth Enhancement Group's 15^th closed transaction of 2024.

Park Sutton Advisors, a Waller Helms Company, served as the financial advisor to M&R Capital Management in the deal.

About Wealth Enhancement Group
Wealth Enhancement Group is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable™ and UniFi processes that go far beyond the standard approach. We proudly provide tailored financial plans and investment management services to serve the unique needs of over 67,298 households from our 118 offices - and growing - nationwide. Since 1997, Wealth Enhancement Group has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain investment advisor representatives of WEAS are also registered representatives of and offer securities through LPL Financial, member FINRA/SIPC. Wealth Enhancement Group^®and WEAS are separate entities from LPL.

Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $96.1 billion in client assets, including $4 billion of brokerage assets held at LPL Financial, as of September 30, 2024. M&R Capital Management had approximately $536 million in client assets as of June 28, 2024. With the addition of M&R Capital Management, Wealth Enhancement Group has more than $96.6 billion in client, advisory, trust, and brokerage assets.

Media Contacts
Marianne Gebhardt
Senior Marketing Communications Manager
[email protected]

Prosek Partners, on behalf of Wealth Enhancement Group
[email protected]

SOURCE Wealth Enhancement Group