Socium Advisors has surpassed $5 billion in assets under management, up from about $500 million six years ago, as the St. Louis-based Northwestern Mutual Private Client Group expands its wealth management capabilities and geographic footprint.
The milestone represents approximately tenfold growth over that period and follows continued investment in client services, talent, infrastructure and strategic mergers.
Socium’s wealth management model centers on integrating risk management and wealth management into a coordinated financial plan.
The firm has expanded its capabilities across estate and tax planning, charitable giving, investment management and services for business owners while also increasing its client base through organic growth and strategic combinations.
One of the firm’s more recent transactions was its April 2026 merger with Amplify Wealth Partners.
That combination strengthened Socium’s retirement plan and 401(k) capabilities and broadened the services it can provide to business-owner clients.
Amplify advisors gained access to Socium’s leadership, infrastructure and broader financial planning resources as part of the merger, allowing those advisors to devote additional time to client relationships.
Socium has also expanded its internal investment management team and group benefits capabilities.
A dedicated leadership team now oversees business operations, while marketing and employee development resources are used to help advisors integrate into the organization and grow their practices.
The company provides each employee with an individual development plan designed to support career advancement and prepare future firm leaders and financial advisors.
With $5 billion in AUM now reached, Socium is preparing for another phase of geographic expansion.
The firm is pursuing a national hub-and-spoke strategy centered around full-service teams in St. Louis, Milwaukee, Northwest Arkansas and the Washington, D.C., area.
Socium plans to add between two and four hubs annually.
Each new hub is expected to be anchored by a partner team while drawing on Socium’s existing operational, investment, planning and business-development infrastructure.
The strategy is intended to serve both younger advisors who are building their practices and established advisors preparing for succession.
Socium is already in discussions with advisors about joining its existing hubs, with an emphasis on pairing experienced professionals with younger advisors to help preserve continuity for clients and their families.
Socium’s broader footprint currently includes offices in St. Louis; McLean, Virginia; Northwest Arkansas; Los Angeles; Calabasas, California; Milwaukee; Philadelphia; Tyler, Texas; and Tacoma, Washington.
The firm’s reported $5 billion AUM figure is as of October 2026 and includes brokerage assets associated with Northwestern Mutual Investment Services and advisory assets associated with Northwestern Mutual Wealth Management Company, including discretionary and non-discretionary assets.
KEY QUOTES:
“From the beginning, our vision has been to bring more of a client’s financial life into one coordinated plan. We’ve continued to reinvest in the people, services and infrastructure that make that possible. Reaching $5 billion reflects the trust clients have placed in our team and gives us a strong foundation to keep investing in how we serve them and their families.”
Scott Underwood, Founder and Chief Executive Officer of Socium Advisors
“Our growth starts with asking where we can bring more value to clients. That guides the teams we bring together, the services we add and the resources we build around our advisors. We now have the infrastructure to expand that approach into more markets and help advisors plan for the future of their practices while preserving the relationships they’ve spent decades building.”
PJ McDaniel, Partner and Chief Growth Officer of Socium Advisors
