Summit-based Simplicity Group, a financial planning firm, announced on Monday that it has acquired Chicago-based Zen Wealth Management Group, Inc. The strategic deal expands Simplicity’s wealth management and protection capabilities while embedding specialized tax planning into its national advisor platform.
As part of the transaction, Zen Wealth founder Eddie Patel becomes Simplicity’s newest Partner. Following the acquisition, Zen Wealth will rebrand as Simplicity Tax Advisors and leverage Simplicity’s scale, institutional resources, and national distribution network to accelerate its business model across new geographic markets.
Zen Wealth has built a multi-faceted financial services practice in Chicago, offering wealth management, tax preparation, bookkeeping, payroll, and insurance planning. The acquisition aims to address a common gap in financial planning by closely aligning year-round tax strategies with long-term wealth accumulation and retirement protection.
“Eddie and the team at Zen Wealth have built a model that seamlessly bridges tax preparation and holistic wealth management,” Bruce Donaldson, president and CEO of Simplicity said. “Their expertise goes beyond tax preparation and planning to address the wealth accumulation and protection goals of their clients. We are thrilled to welcome Zen Wealth to Simplicity and look forward to scaling their proven approach across our national footprint.”
“Joining Simplicity marks an exciting milestone for our team,” Eddie Patel, founder of Zen Wealth and partner at Simplicity said. “Integrating skillful tax preparation with forward-looking tax planning is critical for long-term holistic financial planning, yet it remains the missing link in most families’ retirement plans. By combining our specialized expertise with Simplicity’s institutional-caliber resources, we can enhance the value we provide to families as they navigate complex financial decisions.”
