Wealth Enhancement Group, an independent wealth management firm backed by private equity firm TA Associates, has purchased Lighthouse Wealth Management, an independent hybrid registered investment adviser based in New Market, Maryland that has $446 million in total client assets. Wealth Enhancement Group’s total client assets are expected to exceed $36 billion upon closing on July 1.
Established in 1992 by co-founders Thomas Kozlowski and Andrew Wilson, Lighthouse has eight financial advisors among its 13 employees. The practice, which has a client base that includes 400 families in Maryland and the surrounding states, specializes in financial planning, wealth management and tax services for clients at or near retirement or those experiencing another life-changing event. This will be Wealth Enhancement Group’s third office in the area, joining locations in Fulton, Maryland, and Virginia Beach, Virginia.
Upon closing, the practice will be called the Lighthouse Team, and Kozlowski and Wilson will serve as senior vice presidents, financial advisors at Wealth Enhancement Group.
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.