Jeff Dekko’s Wealth Enhancement Group, a strategic acquirer backed by TA Associates, announced it has bought 10-15 Associates, a New York RIA with 7 financial advisors and $923 million in AUM, led by co-founders Deborah and Michael DeMatteo.
The move marks the 18th acquisition the fast-growing Minneapolis-based wealth manager has made dating back to 2014.
With the deal, WEG has crossed the $20 billion AUM threshold for the first time and gives it 36 offices nationwide. It is WEG’s second investment in the New York area in the past month, bolstering its New York presence to six offices.
“The highly competitive tri-state area is particularly crucial to our efforts,” Dekko said. “Going forward, we will continue to strategically seek opportunities to expand there.”
DeMatteo said that WEG's tech platform was a deciding factor in 10-15 Associates joining the firm.
“WEG has a platform that is geared for growth for growth, through its back office, marketing and wealth management capabilities,” Michael DeMatteo said.
The DeMatteos opened 10-15 Associates in 1986 and the firm currently boasts 16 staff members.