Columbia, MD -- (SBWIRE) -- 10/06/2015 -- $1.6B Pinnacle Advisory Group, a private wealth management firm headquartered in Columbia, Maryland, has acquired $200M The Enrichment Group, a Miami-based Registered Investment Advisor (RIA).
Founded in 1987 by CEO Kathleen Day, The Enrichment Group was built on the twin pillars of integrity and client service, and specializes in helping clients who are going through life transitions. The firm's talented employees will join the team at Pinnacle, with Kathleen and Pat Day (TEG's vice-president) coming on board as directors.
Pinnacle now has 50 employees in three offices (Columbia, MD; Naples, FL; Miami, FL) and manages $1.8 billion in assets for over 1100 clients. With this acquisition, the firm is making a significant entry into the Miami market.
"In choosing to combine with TEG, the most important thing we could evaluate was their overall business culture," said Pinnacle CEO John Hill, CFP®. "We found that we share a culture, a philosophy, and a complete devotion to our clients. When I first met Kathy and Pat, it was clear to me that they had a passion for their clients that I've rarely seen in my 30 years in this business. That's a major reason why we're so excited about this combination."
Pat concurred. "Kathy founded The Enrichment Group, and I joined shortly thereafter. Since then, we've grown it into a well respected, nationally recognized firm, so we had to find a merger partner that we knew would share our approach and continue our work. We were looking for an ethics-driven firm with high client engagement, a focus on financial planning, and strong investment management. In Pinnacle we found that firm."
Michael Kitces, Pinnacle's Director of Financial Planning Research and a partner with the firm, added, "With today's increasingly competitive environment for advisors, we're excited about the potential operational synergies between Pinnacle and TEG to help us both stay competitive, while leveraging our combined professional talent to offer deeper and more specialized financial planning and investment management solutions."
"Pinnacle offers enhancements to the things we do in a way that makes the combination better than either firm on its own," Kathleen Day said. "Everyone wins."
About Pinnacle Advisory Group
Pinnacle Advisory Group was founded in 1993 by John Hill, Ken Solow, and Dwight Mikulis. The firm now manages $1.8 billion in assets from over 1100 clients nationwide. Based in Columbia, Maryland, it also has branch offices in Miami and Naples, Florida.
Contact:
Cybil Bell, Marketing Coordinator
Pinnacle Advisory Group
410-995-6630
cbell@pinnacleadvisory.com
www.pinnacleadvisory.com