Simplicity Group adds Denver RIA and Chicago tax shop in back-to-back deals

Simplicity Group  bought two advisory firms on consecutive days this week, adding wealth management in Denver and a tax-led planning practice in Chicago. Neither deal disclosed price, assets under management or headcount.

On Tuesday, the Summit, New Jersey-based firm said it acquired MAIA Wealth, an independent registered investment adviser in Denver. Key members of the MAIA team, including Scott Marek, Chandler te Velde and Desmond Dimond, will operate as Simplicity Wealth Advisors: Denver. Simplicity said the deal expands its wealth planning, investment management and retirement business in the Rocky Mountain region.

On Wednesday, Simplicity said it acquired Zen Wealth Management Group, a Chicago firm founded by Eddie Patel, who becomes a Simplicity partner. Zen Wealth offers wealth management, tax preparation, bookkeeping, payroll and insurance planning. It will rebrand as Simplicity Tax Advisors and use Simplicity’s distribution network to expand into new geographies.

Both deals fit the same pattern. Simplicity describes itself as combining “accumulation and protection,” meaning investment products alongside insurance. Each acquired team gets access to its expanded insurance and investment lineup. A tax-preparation relationship gives Simplicity a recurring, annual point of contact with clients, which can feed retirement and insurance sales.

“Their expertise goes beyond tax preparation and planning,” Chief Executive Officer Bruce Donaldson said of Zen Wealth.