WARREN, N.J., July 18, 2019 — AEPG Wealth Strategies, a registered investment advisor based in Warren, N.J., with more than $1 billion in combined client assets[i] today announced it has signed a definitive agreement to join Wealth Enhancement Group, an independent wealth management firm that oversees $11.8 billion in client assets[ii]. AEPG’s office will mark Wealth Enhancement Group’s first location in New Jersey, bolstering its presence on the East Coast.
AEPG has 27 employees and serves more than 600 advisory and retirement plan clients. The firm offers planning and advisory services to individuals and families, including retirement planning, education planning, investment management, cash flow management and tax strategies. It also helps businesses establish and manage retirement plan and employee benefits programs. Additionally, AEPG has specialized expertise in advising medical professionals, such as doctors and dentists, with respect to their unique financial concerns, as well as designing and implementing comprehensive employee benefits packages for manufacturers. In 2018, InvestmentNews named AEPG one of the Top 20 Best Places to Work for Financial Advisors in the U.S.[iii], and as NJBIZ Magazine’s #12 Small Business Best Places to Work in New Jersey[iv].
Steven Kaye, Founder and CEO of AEPG Wealth Strategies said, “We are excited to join forces with Wealth Enhancement Group, an organization with strong resources that can augment our current client services capabilities, as well as a service philosophy that is completely aligned with ours. From our initial conversations with Wealth Enhancement Group in 2015, we’ve seen alignment between our firms in our deep commitment to client service, and our shared focus on independent, fiduciary, team-based advice that is entirely centered on client needs. Our clients are successful businesses and individuals who need a trusted advocate to make sense of their complex financial situations and guide them on the right path to pursue their goals. In Wealth Enhancement Group, we have found a strategic partner who can help us take our client service to the next level, while enabling us to deliver our solutions to a broader set of clients across the country.”
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, “AEPG’s exceptional track record for client service with individuals, families and business owners is a testament to their team’s ability to bring substantial value to the clients they support. Moreover, AEPG’s retirement plan and employee benefits services deepens the expertise we provide to business owners via our Roundtable team of specialists and advisors. We are thrilled to bring aboard AEPG’s accomplished team and we’re excited about all that we can achieve together.”
We will continue to identify and acquire exceptional firms, led and staffed by exceptional people, to join forces with our organization as partners in helping us expand as a nationally respected wealth management and financial planning brand. AEPG was an ideal candidate due to both its business achievements, and its culture, which has its roots in a passionate belief in doing the best for clients in every engagement.”
In addition to continuing to serve their clients, AEPG’s talented team will serve as the Pension and Group Employee Benefits specialists on the Wealth Enhancement Group Roundtable, providing additional value-add expertise and resources to help business owner clients across the country. Under the terms of the transaction, Steven Kaye will continue to lead the firm’s team, as senior vice president and managing director at Wealth Enhancement Group following the closing of the acquisition.
Financial terms of the transaction, which is expected to close on October 1, 2019, were not disclosed. AEPG Wealth Strategies was represented by DeVoe & Company, a leading strategic advisor to RIAs, offering consulting, investment banking, and valuation services.
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[i] AEPG Wealth Strategies has approximately $1 billion in combined client brokerage and advisory assets as of 6/30/2019.
[ii] Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, have approximately $11.8 billion in client brokerage and advisory assets as of 6/30/2019.
[iii] Companies from across the country entered the two-part process using an extensive workplace assessment process that included an inventory of organizational benefits, policies and offerings but also a detailed survey of employees to determine the Best Places to Work. The overall registration and survey process was managed by Best Companies Group (BCG). BCG also analyzed the data provided and used their expertise to determine the final rankings. There was no cost associated with participating in the survey to be considered as one of the Best Places to Work for Financial Advisers.
[iv] Companies from across the state entered the two-part process using an extensive workplace assessment process that included an inventory of organizational benefits, policies and offerings but also a detailed survey of employees to determine the 100 Best Places to Work in New Jersey. The overall registration and survey process was managed by Best Companies Group (BCG). BCG also analyzed the data provided and used their expertise to determine the final rankings. While there is a cost associated with administering the survey to be considered as one of the Best Places to Work, there is no guarantee of inclusion in the list.