Simplicity Group Acquires Wealth Firm in Illinois

Simplicity Group Holdings, a financial products distribution firm, has acquired Geneva, Ill-based Wright Wealth Group, bolstering the firm’s footprint in the greater Chicago market. 

Wright Wealth Group, founded in 2010, is led by Eric Wright and provides insurance solutions, index and Fixed annuities, wealth and estate planning, health benefits and personal lines coverage. 

As part of the acquisition, Wright has joined Simplicity as a partner and will contribute to Simplicity’s National Accounts initiatives. 

Simplicity Group’s National Accounts initiatives centers on expanding its financial planning, wealth, and asset protection products across wirehouses, broker-dealers, and investment firms. 

“By tapping into Simplicity’s extensive national resources, advanced technology, and unparalleled institutional support, we can further enhance our client experience while expanding our reach throughout the Chicago area and beyond,” said Wright. 

Earlier this month, Simplicity Group acquired Mobile, AL-based Mobile Bay Financial Solutions, and in April, Simplicity acquired CPS Horizon Financial Group and ATS Wealth Management, further expanding its capabilities across insurance distribution and investment management. 

In May, LPL Financial and Simplicity Group joined forces to roll out and expand existing insurance capabilities for LPL advisors, enabling further protection planning within the firm’s broader wealth platform. 

Through the partnership, Simplicity has become LPL’s preferred brokerage general agency, and LPL has transitioned its internal LPL Insurance Associates business to Simplicity. 

Summit, NJ-based Summit Wealth, a division of Summit Group Holdings, manages over $4.6 billion in total assets under management for 14,045 accounts, according to its latest Form ADV, updated on July 8.