St. Louis-based Socium Advisors announced its merger with fellow Northwestern Mutual Private Client Group firm Amplify Wealth Partners of Milwaukee. The addition of Amplify’s $1.6 billion in assets under management (AUM) as of March brings Socium’s total client assets to $4.3 billion as of March.
“For over 30 years, Socium Advisors has been helping accomplished individuals, families and business owners simplify their wealth and align it with their goals. 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.
Amplify’s Founder, Jerod Spaeth, will be joining Socium as a Partner, along with four other Amplify executives. In all, 26 financial professionals will join Socium. The merger also adds Milwaukee to its existing offices in St. Louis; McLean, Virginia; Northwest Arkansas; Los Angeles; Calabasas, California; and Tacoma, Washington.
Underwood added, “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’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.”
“Amplify is exactly the type of high-caliber group with a unique offering that we are looking to bring into Socium,” said PJ McDaniel, Chief Growth Officer of Socium Advisors. “The firm’s group benefits, business consulting and qualified retirement plan expertise will be leveraged across the firm, allowing us to enhance our existing services to our business-owner clients.”
McDaniel added, “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.”
Wealth Solutions Report can be reached at info@wealthsolutionsreport.com.
