Wealth Enhancement Group, a portfolio company of Lightyear Capital, said July 25 that it closed its buy of Planning Solutions Group LLC. Financial terms weren’t announced. Planning Solutions, of Fulton, Maryland, is an independent financial advisory business with more than $1.3 billion in combined client assets as of June 30.
MINNEAPOLIS, July 25, 2019 /PRNewswire/ — Wealth Enhancement Group, an independent wealth management firm that oversees $11.8 billion in client assets*, today announced that it has completed its acquisition of Planning Solutions Group, LLC, a hybrid independent financial advisory business based in Fulton, Maryland, with more than $1.3 billion in combined client assets**.
The acquisition marks Wealth Enhancement Group’s first location in the Baltimore/Washington D.C. area and underscores its commitment to growth in the densely populated east coast. The acquisition is the firm’s twelfth since the end of 2013 and is more evidence that it is establishing itself as a leading national wealth management and financial planning brand through both organic growth and targeted acquisitions.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, “Through thoughtful planning, our team delivered a step-by-step integration roadmap that has enabled our new partners to hit the ground running on Day One. We look forward to supporting our new colleagues as they capitalize on this momentum and further embrace our team-based, client-centered culture.”
Robert Carson, Senior Vice President and Financial Advisor at Wealth Enhancement Group, said, “We’re grateful to the extended Wealth Enhancement Group team for making the on-boarding process as seamless as possible for our staff and clients. We’re excited to leverage the expertise and insights of our new colleagues to continue developing our long-term client relationships.”
About Wealth Enhancement Group
Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, Wealth Enhancement Group serves clients nationwide. Wealth Enhancement Group specializes in providing retail clients with the team-based expertise and resources they need to simplify their financial life. For more information, please visit www.wealthenhancement.com.
*Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, have approximately $11.8 billion in client brokerage and advisory assets as of 6/30/2019.
**Planning Solutions Group and its Registered Investment Advisor had approximately $1.3 billion in combined client brokerage and advisory assets as of 6/30/2019.