Wealth Enhancement Group Continues RIA Buying Spree
Wealth Enhancement Group, an independent wealth management firm backed by TA Associates, has agreed to purchase Financial Wealth Management, a hybrid registered investment adviser based in Madison, Wisconsin.
Wealth Enhancement Group, an independent wealth management firm backed by TA Associates, has agreed to purchase Financial Wealth Management, a hybrid registered investment adviser based in Madison, Wisconsin with approximately $320 million in client assets.
The transaction, which is slated to close in the fourth quarter, is expected to increase Wealth Enhancement Group’s client brokerage and advisory assets to $26 billion. Financial terms were not disclosed.
Last week, The DI Wire reported that Wealth Enhancement Group agreed to purchase another Madison, Wisconsin-based RIA, SVA Financial Group, which has 22 financial advisors that collectively oversee $3.2 billion in client assets. Wealth Enhancement Group currently has offices in Clinton and Green Bay, Wisconsin.
Financial Wealth Management consists of the father-son advisor team of founder Dan Hyland and senior vice president Kyle Hyland. The practice offers comprehensive wealth management services, including retirement and financial planning for individuals and small businesses.
“This acquisition further strengthens our footprint in the Midwest, where, starting from our home base in Minnesota, we have been adding to our locations at a steady pace, selectively adding high-quality practices whose cultures and goals align with our own,” said Jeff Dekko, chief executive officer of Wealth Enhancement Group. “Dan, Kyle and their team are exactly the sort of professionals we relish the chance to work with…”
Founded in 1997, Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm that offers comprehensive and customized financial planning and investment management services. The firm had more than $22 billion in client brokerage and advisory assets as of November 30, 2020.
