Northwestern Mutual Private Client Group’s Socium Advisors and Amplify Wealth Partners have announced a merger that will create one of the largest firms in the network. With Milwaukee-based Amplify’s $1.6 billion in total client assets, St. Louis-headquartered Socium’s total client assets will increase to $4.3 billion.
“We are thrilled to welcome Amplify Wealth Partners to our firm as we continue our strategic growth and expand our reach into more states,” said Scott Underwood, founder and CEO of Socium Advisors. “With Amplify, we have found a partner that shares our values and commitment to impeccable service. I’m excited about what we will be able to accomplish together.”
Amplify was established by 20-year industry veteran Jerod Spaeth, who will be joining Socium as a Partner, along with his Amplify peers Lauren (Peter) Lanigan, Andrew Hoy, Andrew Hunn and Christopher Young. With the addition of 26 financial professionals, Socium will have 86 team members and add Milwaukee to its office locations, which include St. Louis, McLean, Virginia, Northwest Arkansas, Los Angeles, Calabasas, California, and Tacoma, Washington.
“I’ve always appreciated the high-quality business operation Scott and his team have created at Socium,” said Spaeth. “The firm also has the scale and resources to allow us to expand our offerings to both individual clients and group plan participants. I’m excited about the future of the combined firm and the positive impact it will have on our clients’ experience as the industry continues to evolve.”
The strategic merger will significantly increase Socium’s presence in the Qualified Plan and Group Benefits spaces, with the combined firm serving nearly 45,000 employees of businesses across the U.S. In addition, Amplify’s clients with more complex personal finance needs will now gain convenient access to the full suite of high-end wealth management services Socium is known for providing its private clients, including financial, estate and philanthropic planning.
When asked about technology enhancements Amplify advisors can look forward to, Underwood said, “Being one of the largest firms in the Northwestern Mutual network, we have a strong partnership with the home office that enables us to offer cutting-edge software solutions to enhance the client and advisor experience. This allows Amplify advisors to leverage improved marketing, sales and operational efficiency, as well as solutions for tax, estate and financial planning.”
PJ McDaniel, Chief Growth Officer of Socium Advisors, added, “With this deal, we are in the early stages of what we anticipate will be a thoughtful, yet aggressive, growth program as we continue to round out the value-added services we provide. We are looking to add additional services in 2026, to complement our existing financial, estate and philanthropic planning expertise.”
