Wealth Enhancement Group to Surpass $50 Billion in Client Assets with Latest Acquisition
Wealth Enhancement Group, an independent wealth management firm, plans to purchase New York-based QCI Asset Management Inc.
Wealth Enhancement Group, an independent wealth management firm, plans to purchase New York-based QCI Asset Management Inc., an independent registered investment advisor with 12 financial advisors that collectively oversee $5.2 billion in client assets.
Once complete, the transaction will be Wealth Enhancement Group’s 13th of 2021, bringing the firm’s total client assets to $52.4 billion.
Founded in 1975 and led by president and chief executive officer H. Edward Shill and principal and portfolio manager Gerald Furciniti, QCI specializes in financial planning, wealth management, investment management and retirement consulting services for high-net-worth individuals, trusts, pension and retirement plans, corporations, higher education institutions and other non-profit clients.
With 31 employees and an office in Pittsford, New York, the practice will be Wealth Enhancement Group’s first location in Western New York.
After the Oct. 31 close of the transaction, QCI will do business as the QCI Team of Wealth Enhancement Group. Shill and Furciniti will serve as managing directors and senior vice presidents – financial advisors. Financial terms of the transaction were not disclosed.
Founded in 1997, Wealth Enhancement Group is based in Greater Minneapolis and offers comprehensive and customized financial planning and investment management services.
