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Wealth Enhancement Group Acquires $900M RIA

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Wealth Enhancement Group has acquired 10-15 Associates, an RIA with $932 million in client assets based in Goshen, New York. The purchase increases Wealth Enhancement’s footprint in the New York/Tri-State region.

Founded in 1986 by 35-year industry veteran Deborah DeMatteo, CEO and president, and by Michael DeMatteo, CFO and managing director, 10-15 Associates has 16 employees, including seven financial advisors. Its client focus is on families and business owners.

“As we continue to expand our footprint across the country and in the New York/Tri-State region specifically, we have been very deliberate in identifying and partnering with exceptional advisors who bring as much to our team as our strategic growth initiatives and back-office capabilities add for them and their firms,” said Wealth Enhancement Group CEO Jeff Dekko in a statement.

“Deborah, Michael and all professionals at 10-15 Associates exceeded our expectations and we are eager to help them further accelerate their growth as part of our platform,” Dekko added.

The addition of 10-15 Associates gives Wealth Enhancement, which is based in Minneapolis, 36 offices nationwide  including eight in the metropolitan New York area.

In December 2019, Wealth Enhancement Group inked a deal to buy BPU Investment Management of Pittsburgh. The deal brought 13 advisors, six staff members and some $990 million to WEG. It was the firm’s 15th transaction over the past six years.

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