M&R Capital Management Inc., an independent RIA in Summit, N.J., with $536 million in assets under management, has been acquired by Wealth Enhancement Group.
A national independent wealth management firm with more $96.6 billion AUM, Wealth Enhancement Group reported that the acquisition is its 15th closed transaction of 2024.
John Maloney, Chairman and Chief Executive Officer of M&R Capital Management Inc., leads a team of three financial advisors and three support staff.
“John and his team are an excellent addition to our firm,” Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said in a news release. “We are pleased that they’ve chosen to join Wealth Enhancement Group. Through our partnership, they can access our extended suite of central services and free up more time to invest in strengthening client relationships and growing their practice.”
Founded in 1993, M&R Capital Management offers financial services including investment management, separate account management and retirement planning. The team has experience serving high-net-worth individuals, business owners, pilots and non-profit groups.
“This acquisition represents an exciting new chapter for our firm and our clients,” Mallory said. “By joining forces with Wealth Enhancement Group, we’re able to enhance our services, expand our resources, and continue to provide personalized financial strategies. Our clients will benefit from the added scale and solutions while maintaining the high level of care and attention they’ve come to expect from us.”
Jim Cahn, Chief Strategy Officer of Wealth Enhancement Group, noted that the acquisition will increase Wealth Enhancement Group’s presence in New Jersey. “We look forward to the deep experience and sophistication the team will bring to Wealth Enhancement Group,” he said.
M&R Capital Management’s financial advisor in the transaction was Park Sutton Advisors, a Waller Helms Company.
