Socium Advisors Merges With $1.6 Billion Firm

Tom Burroughes

7 April 2026

Socium Advisors, a private client group of Northwestern Mutual, is merging with a $1.6 billion firm, Amplify Wealth Partners, of Milwaukee, Wisconsin.

The deal – the financial terms of which were not disclosed – will increase Socium’s total client assets to $4.3 billion, up from $500 million when it was founded in 2020.

Amplify was established by industry veteran Jerod Spaeth, who will join as a partner, along with his Amplify peers Lauren Lanigan, Andrew Hoy, Andrew Hunn and Christopher Young.

With the addition of 26 financial professionals, Socium now has 86 team members and has added Milwaukee, Wisconsin, to its list of offices, which includes St Louis, McLean, Virginia, Northwest Arkansas, Los Angeles, Calabasas, California, and Tacoma, Washington.

Socium clients include executives at publicly traded companies, attorneys, CPAs, real estate developers, medical professionals, business owners, entrepreneurs and athletes.

The strategic merger has significantly increased Socium’s presence in the qualified plan and group benefits spaces, with the firm now serving nearly 45,000 employees of businesses across the US. In addition, Amplify’s group plan participants with more complex personal finance needs can use the suite of high-end wealth management services that Socium offers private clients.

“Amplify is exactly the type of high-caliber group with a unique offering that we are looking to bring into Socium,” PJ McDaniel, chief growth officer, Socium Advisors, said.

“We are looking to add additional services in 2026, to complement our existing financial, estate and philanthropic planning expertise,” McDaniel said.

As reported in February, wealth management industry transactions such as those involving RIAs clocked up another record last year, according to US-based ECHELON Partners, an investment bank and advisor that monitors the sector.