Wealth Enhancement Group, an independent wealth management firm, has purchased Fitzgerald Wealth Management, an independent financial advisory practice with four advisors that collectively oversee $513 million in total client assets. Upon acquiring the Houston-based firm, Wealth Enhancement Group’s total client assets have reached $37.7 billion.
The transaction is Wealth Enhancement Group’s eighth acquisition in 2021. Since June 1, the firm has added 35 advisors and more than $5.9 billion in assets to its platform via acquisitions.
Founded in 2011 by Michael Fitzgerald, Fitzgerald Wealth Management also includes Richard Heard, Rachel Garza and Derek Platt, who specialize in comprehensive wealth management for high-net worth retirees and pre-retirees.
Their clients include senior management and executives of Houston-area public companies, small business owners and legal, consulting and medical professionals. The majority of their clients reside in the Houston, Dallas, Austin and San Antonio markets.
Following the acquisition, the firm started doing business under the Wealth Enhancement Group brand, and its founder was named senior vice president and financial advisor.
“The Houston region is one of the fastest-growing areas in the country in terms of population, economic stature and wealth. The acquisition of Fitzgerald Wealth Management helps position Wealth Enhancement Group to serve a broader cross-section of the area’s growing number of high-net worth investors…,” said Jeff Dekko, chief executive officer of Wealth Enhancement Group.
As part of the transaction, the Fitzgerald group has also affiliated with LPL Financial for the brokerage-based portion of its book of business.
Financial terms of the transaction were not disclosed.
Founded in 1997, Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services.