Northwestern Mutual Private Client Group Socium Advisors Acquires $1.6B Amplify Wealth Partners
Socium Advisors, a Northwestern Mutual private client group, has merged with Amplify Wealth Partners, a Milwaukee, Wis.-based private client group with $1.6 billion in total client assets as of March 2026. The dealbrings Socium’s total client assets to $4.3 billion, up from $500 million in 2020.
Amplify wasfounded by Jerod Spaeth to serve high-net-worth individuals, families and business owners through integrated wealth management strategies.
“With Amplify, we have found a partner that shares our values and commitment to impeccable service,” said Scott Underwood, founder and CEO of Socium Advisors. “Jerod has built an incredible team, with an array of sophisticated clients and an impressive group benefits and retirement plan business in the Milwaukee area. I’m excited about what we will be able to accomplish together.”
Spaeth will join Socium as a partner, along with Amplify colleagues Lauren (Peter) Lanigan, Andrew Hoy, Andrew Hunn and Christopher Young.
With the addition of 26 financial professionals, Socium now has 86 team members and expands its office network to include Milwaukee.
“Socium is run similar to more like a firm with family office services, with a team approach and the specialized services clients expect from their wealth advisers,” 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.”
Clients include executives at publicly traded companies, attorneys, CPAs, real estate developers, medical professionals, business owners, entrepreneurs and athletes.
The merger has increased Socium’s presence in the qualified plan and group benefits markets, with the combined firm now serving nearly 45,000 employees of businesses across the United States. In addition, Amplify’s current group plan participants with more complex personal finance needs will now gain access to the full suite of wealth management services Socium provides its private clients, including financial, estate and philanthropic planning.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company. Subsidiaries include Northwestern Mutual Investment Services LLC, investment brokerage services; Northwestern Mutual Wealth Management Company, investment advisory and services; federal savings bank; and Northwestern Long Term Care Insurance Company.
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