Wealth Enhancement Group to Buy Miami-Based RIA with $1.1 Billion in Client Assets
Wealth Enhancement Group, an independent wealth management firm, plans to buy Miami-based Investor Solutions, an independent registered investment advisor.
Wealth Enhancement Group, an independent wealth management firm, plans to buy Investor Solutions, an independent registered investment advisor practice based in Miami with six financial advisors that collectively oversee $1.1 billion in total client assets.
The transaction is Wealth Enhancement Group’s 10th acquisition in 2021, and upon acquiring Investor Solutions, its total client assets are expected to exceed $40 billion. Since June 1, the firm has added 44 advisors and approximately $7.9 billion in assets to its platform through acquisitions.
Investor Solutions will be Wealth Enhancement Group’s first location in South Florida and fourth in the state, adding to two offices in Jacksonville and one in Tampa. The practice was established in 1993 by chief executive officer Frank Armstrong and its leadership team includes financial advisors Richard Feldman, Robert J. Gordon, and Brett Fingerhut. The practice offers comprehensive wealth management for individuals and families, as well as advisory services for retirement plans, endowments and nonprofit organizations.
“Wealth Enhancement Group has long considered South Florida to be a crucial market for expansion as we strive to build scale and a strong client service presence in key regions of the country,” said Jeff Dekko, chief executive officer.
After the transaction closes, Investor Solutions will do business under the Wealth Enhancement Group brand, and Armstrong will serve as senior vice president of financial advisor.
Financial terms of the transaction, which is expected to close in October 2021, 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.
