Summit-based Simplicity Group announced on Monday that it acquired August H. Velten & Associates, Inc., a prominent independent retail wealth management and annuity firm headquartered in Melbourne, Florida.
As part of the transaction, firm founder August Velten will join Simplicity as a partner. The Melbourne-based practice is set to rebrand as Simplicity Wealth Advisors: Melbourne, marking a new chapter for the family-owned financial firm.
The acquisition formalizes a long-standing collaboration between the two entities. Simplicity Group has supported Velten & Associates for years, providing the firm with integrated training, marketing, and wealth management resources that have driven the practice’s growth.
“Augie Velten and his talented team have been exceptional partners to Simplicity for years,” Bruce Donaldson, partner and CEO of Simplicity Group said. “This transaction demonstrates our ability to successfully design and execute continuity and succession plans for our integrated advisors.”
For August Velten, the move is a strategic decision intended to bolster the firm’s long-term stability and service capabilities. By integrating fully into the Simplicity platform, the Melbourne team gains enhanced access to institutional support, advanced technology, and a more diverse range of financial products.
“Joining Simplicity as a full partner is an exciting step forward for our firm and our clients,” Velten said. “By deepening our alignment with Simplicity… this ensures our team is perfectly positioned to grow, while cementing a clear, stable succession path that guarantees our clients will be taken care of for a long time in the future.”
About the firms
- August H. Velten & Associates: A family-owned practice specializing in retirement lifestyle design. The team provides tailored wealth management and long-term planning strategies for individuals across all economic levels.
- Simplicity Group: Recognized as one of the fastest-growing partnerships in the financial services industry, Simplicity provides advisors and institutions with tools for wealth accumulation and financial protection. The company operates on a foundation of education, value, and partnership.
