
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.
