Socium Advisors Expands with $1.6B Amplify Wealth Partners Merger

Merger creates one of the largest wealth management firms in the Northwestern Mutual network, adding group benefits and retirement plan services.

Apr. 6, 2026 at 10:51pm

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A minimalist studio still life featuring a stack of financial documents, a pen, and a calculator arranged on a clean white background, symbolizing the merger of two wealth management firms.The merger of Socium Advisors and Amplify Wealth Partners creates a wealth management powerhouse with over $4 billion in client assets.Los Angeles Today

Socium Advisors, a St. Louis-based wealth management firm, has merged with Milwaukee's Amplify Wealth Partners, adding $1.6 billion in client assets and expanding Socium's footprint and service offerings. The combined firm now manages over $4.3 billion in assets and serves nearly 45,000 employees across the U.S.

Why it matters

The merger allows Socium to scale its comprehensive wealth management services, including access to alternative investments, while also expanding its group benefits and retirement plan business through Amplify's existing clients and expertise. This positions the combined firm as a major player in the Northwestern Mutual network and enhances its ability to serve high-net-worth individuals, families, and businesses.

The details

Under the deal, Amplify Wealth Partners, founded by 20-year industry veteran Jerod Spaeth, will merge into Socium Advisors. Amplify's $1.6 billion in client assets will increase Socium's total to $4.3 billion, making it one of the largest wealth management firms in the Northwestern Mutual network. The merger will also add 26 financial professionals to Socium's team of 86, and expand the firm's geographic footprint to include an office in Milwaukee.

  • Socium Advisors has grown from $500 million in total client assets in 2020 to over $4.3 billion with the latest deal.
  • The merger was announced on April 6, 2026.

The players

Socium Advisors

A St. Louis-based wealth management firm that specializes in comprehensive planning for high-net-worth clients, including executives, professionals, and business owners.

Amplify Wealth Partners

A Milwaukee-based wealth management firm that Socium is merging with, bringing $1.6 billion in client assets and expanding Socium's group benefits and retirement plan services.

Scott Underwood

The founder and CEO of Socium Advisors, who will lead the combined firm.

Jerod Spaeth

The founder of Amplify Wealth Partners, who will join Socium Advisors as part of the merger.

John Fischer

The Director of Investments at Socium Advisors, who leads the firm's Investment Committee and alternative investment strategies.

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What they’re saying

“We are thrilled to welcome Amplify Wealth Partners to our firm as we continue our strategic growth and expand our reach into more states.”

— Scott Underwood, Founder and CEO of Socium Advisors

“I've always appreciated the high-quality business operation Scott and his team have created at Socium. The firm also has the scale and resources to allow us to expand our offerings to both individual clients and group plan participants.”

— Jerod Spaeth, Founder of Amplify Wealth Partners

What’s next

Socium Advisors plans to continue its strategic growth program, adding more value-added services and expanding its geographic footprint further.

The takeaway

This merger positions Socium Advisors as a major player in the wealth management industry, allowing it to scale its comprehensive services, including alternative investments, while also expanding its group benefits and retirement plan business through Amplify's expertise. The combined firm's increased size and resources will enhance its ability to serve high-net-worth individuals, families, and businesses.