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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  + Wealth Management  |  April 2, 2024
Wealth Enhancement Group Buys $226M Florida RIA
Joe Palmisano
By: Joe Palmisano

Wealth Enhancement Group Buys $226M Florida RIA 

Wealth Enhancement Group announced the acquisition of Piermont Wealth Management Inc., an independent RIA with offices in Boca Raton, FL and Melville, NY that manages over $226 million in client assets. 

The addition of Piermont Wealth Management Inc. marks Wealth Enhancement Group’s 12th location in Florida and second acquisition of 2024, bringing its total assets under management to over $79 billion. 

Led by CEO Philip J. Capell, Piermont Wealth Management provides investment management, estate planning, gift and income tax planning, retirement planning, and financial planning to pre-retirees within 10 years of retirement and retirees. 

“Wealth Enhancement Group is thrilled to announce the addition of Philip and his team to our organization,” said Jeff Dekko, CEO of Wealth Enhancement Group. “We are confident that their extensive knowledge and experience in the financial industry will benefit our firm as we seek to provide our clients with the best possible financial advice.”  

Backed by private equity firms TA Associates and Onex Corporation, Plymouth, MN-based Wealth Enhancement Group announced in January the acquisition of Foundational Wealth Advisory, LLC, a hybrid registered investment advisor.  

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Wealth Enhancement GroupPiermont Wealth Management Inc.

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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