Wealth Enhancement Group Buys Hybrid with $853 Million in Client Assets
Wealth Enhancement Group, an independent wealth management firm, has purchased Serafini Financial Group, a Maryland-based hybrid registered investment advisor.
Wealth Enhancement Group, an independent wealth management firm, has purchased Serafini Financial Group, a Maryland-based hybrid registered investment advisor with 12 total employees, four financial advisors and $853 million in total client assets. Following the acquisition’s closing, Wealth Enhancement Group’s total client assets now exceed $39 billion.
The transaction is Wealth Enhancement Group’s ninth acquisition in 2021. Since June 1, the firm has added 38 financial advisors and roughly $6.8 billion in assets to its platform via acquisitions.
Founded by Andrew Serafini in 1990, Serafini Financial Group serves clients, typically pre-retirees and retirees, across the tri-state Maryland-Virginia-Pennsylvania region. As part of the transaction, the Serafini Financial 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.
