Minneapolis giant Wealth Enhancement Group today announced the acquisition of Levy Wealth Management Group LLC, a Philadelphia-based hybrid registered investment advisor with more than $1.3 billion in assets under management.
This latest partnership marks Wealth Enhancement Group's ninth location in Pennsylvania and brings the firm's total client assets to more than $90.5 billion.
Led by president Victor Levy, along with chief operating officer and wealth advisor Michael Clatterbuck and wealth advisor Joseph Robostello, Levy Wealth Management Group was created from Leon L. Levy and Associates, a nationwide life and disability insurance brokerage firm founded in 1972 by Victor’s father, Leon L. Levy, according to a news release. The statement also noted that Victor Levy and his brother, David Levy, honed their specialties in wealth management and group insurance at the firm.
The team at Levy Wealth Management Group, the release said, “specialize in working with healthcare professionals, business owners and multiple generations of family members who are interested in wealth management, tax planning, estate planning, and holistic financial planning.” The team will operate as the Levy-Clatterbuck-Robostello Team at Wealth Enhancement Group, the release noted.
“We are excited to embark on this new journey with Wealth Enhancement Group. The comprehensive resources the firm provides will enable us to further our mission of helping clients more efficiently reach their financial goals,” Victor Levy said in a statement. “Furthermore, we look forward to working alongside a team that shares our commitment to technological innovation, investment efficiency, and client care.”
Jeff Dekko, CEO of Wealth Enhancement Group, said, “We are incredibly pleased to welcome Levy Wealth Management Group to our firm. Victor, Michael, Joe and their team have built a sophisticated practice rooted in personalized financial planning. They live their mission—‘We Show We Care’—every day by building strong, sustainable client relationships.”
Wealth Enhancement Group, founded in 1997, provides financial planning and investment management services to more than 61,000 households and 115 offices nationwide. The firm was one of the most active RIA acquirers in 2023, according to consulting firm DeVoe & Company.