Advisory M&A News – 9/9/24

Mesirow Acquires Price Wealth Management

Mesirow Financial Holdings Inc., an independent, employee-owned financial services firm, announced the acquisition of Price Wealth Management LLC, a registered investment adviser based in Stuart, Florida. Craig Price will become a Mesirow wealth adviser, joined by Nancy Zehr, senior client relationship specialist, and the rest of the Price team.

The transaction builds upon Mesirow’s existing footprint in the area, which also includes offices in Miami and Boca Raton. Price Wealth Management was represented by DeVoe & Co., a consulting firm and investment bank to RIAs.

“This transaction aligns with our focus on serving a growing base of wealth management clients, advancing the firm’s footprint in Florida and the regional Southeast, and combining ongoing organic growth with strategic acquisitions in the wealth space,” said Brian Price, CEO of Mesirow Wealth Management, in a statement.

Mesirow Wealth Management has more than $11.4 billion in assets under management. Over the next two to three years, the firm plans to grow its headcount, with an initial focus on wealth management and capital markets, including corporate and governmental clients, while also expanding its presence along the west coast of Florida.

Wealth Enhancement Group Acquires of Levy Wealth Management Group

Wealth Enhancement Group LLC announced the acquisition of Levy Wealth Management Group LLC, a hybrid RIA located in Philadelphia. The Levy team oversees more than $1.3 billion in client assets and is led by Victor Levy, president; Michael Clatterbuck, chief operating officer and wealth adviser; and Joseph Robostello, wealth adviser.

Levy Wealth Management Group was formed from Leon L. Levy and Associates, a life and disability insurance brokerage firm founded by Victor’s father, Leon L. Levy, in 1972, and where Victor and his brother, David Levy, established their specialties in wealth management and group insurance, respectively.

Levy specializes in working with health care professionals, business owners and multiple generations of family members who are interested in wealth management, tax planning, estate planning and holistic financial planning. 

“We are incredibly pleased to welcome Levy Wealth Management Group to our firm,” said Jeff Dekko, CEO of Wealth Enhancement Group, in a statement. “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.”

Hub International Adds Assets of Flexible Benefits Plans

Hub International Ltd. announced that it has acquired the assets of Flexible Benefits Plans Inc. Based in Valley Forge, Pennsylvania, FBP assists brokers by providing resources to optimize employee benefit programs.

With more than 20 years of experience, FBP specializes in HR technology, strategic planning, insurance carrier access and support, benefit plan administration, renewal management and more. Thomas Olejar, president and CEO, and the FBP team will join the Hub Greater Philadelphia regional office.

“We are excited to welcome Tom Olejar and FBP to our growing team in HUB Greater Philadelphia,” said Dennis O’Neill, president of Hub Greater Philadelphia, in a statement. “FBP’s reputation and experience will significantly bolster our Employee Benefits footprint in the Philadelphia marketplace.”

FBP will be referred to as Flexible Benefits Plans Inc., a Hub International company.