Simplicity Group Acquires Whitney and Associates in Iowa

Simplicity Group Holdings has acquired an Iowa-based wealth management firm, further expanding its footprint in the Des Moines market.  

Whitney and Associates, which was founded in 2010, is an annuity and life insurance marketing organization that provides specialized annuity, life insurance, and wealth management solutions to independent advisors. 

In addition to Simplicity Group’s addition, the deal also includes registered investment advisory firm Altitude Capital Management, which is an integrated platform that offers financial planning, portfolio management, and asset management for high-net-worth clients. 

As part of the acquisition, Altitude Capital Management’s founders Mitchell Whitney and Charles Johnson, have joined Simplicity Group as partners, Simplicity stated. 

“Partnering with Simplicity allows us to elevate our service model, expand our product offerings, and provide our dual-licensed advisors with a stronger wealth management infrastructure through Simplicity Securities,” Johnson said. 

Last month, Simplicity Group acquired Geneva, Ill-based Wright Wealth Group, in a move to bolster its footprint in the greater Chicago market. 

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 July 8.

Pictured: Mitchell Whitney (Left) and Charles Johnson (Right)