Wealth Enhancement Group, which is backed by Lightyear Capital LLC, has acquired Jacksonville, Florida-based CPA Retirement Planning, a financial adviser. No financial terms were disclosed.
MINNEAPOLIS and JACKSONVILLE, Fla., Dec. 6, 2017 /PRNewswire/ — Wealth Enhancement Group, an independent wealth management firm with over $7.5 billion in client assets*, today announced its acquisition of CPA Retirement Planning, a Jacksonville, FL-based independent financial advisory practice. CPA Retirement Planning provides holistic, tax-savvy financial planning and investment management services to retail and business clients.
Founded in 1997 and backed by Lightyear Capital LLC, a private equity firm specializing in financial services investing, Wealth Enhancement Group serves more than 10,000 clients in more than 40 states. Its registered investment advisor (RIA) arm, Wealth Enhancement Advisory Services, is one of the nation’s fastest-growing independent RIA firms. The acquisition will provide CPA Retirement Planning’s clients with immediate access to the team-based comprehensive expertise and resources Wealth Enhancement Group provides.
John Linge, Managing Principal, Senior Financial Advisor of CPA Retirement Planning, will lead the Jacksonville Wealth Enhancement Group office. With the support of the Wealth Enhancement Group Roundtable team of specialists, he and his team will continue to provide outstanding wealth management advice to clients.
Commenting on the transaction, Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, “We’re excited to welcome CPA Retirement Planning to Wealth Enhancement Group. This is an acquisition that reflects our continued growth, as well as the dynamic value proposition we offer as a highly experienced, succession planning-driven transaction partner. Adding CPA Retirement Planning’s business to Wealth Enhancement Group provides a servicing platform for clients in Florida and also allows CPA Retirement Planning’s clients to benefit from the extended expertise of our Roundtable team of specialists.”
Mr. Linge said, “We’re committed to the best possible long-term service experience for our clients. After a thorough review of several options, our combination with Wealth Enhancement Group emerged as the best approach for our business and our clients. Their emphasis on holistic financial planning that encompasses tax-smart financial advisory services, its expertise in serving the affluent and mass affluent, and the firm’s culture of prioritizing client service above all else made Wealth Enhancement Group the ideal transaction partner for us. I’m excited about everything that we can accomplish together for our clients going forward.”
Mr. Dekko concluded, “The momentum we have built and sustained in positioning Wealth Enhancement Group as a top national wealth management and financial planning brand over the years continues to serve us well as we embark upon a new chapter of growth and success for our firm. We’re confident that our successful acquisition of CPA Retirement Planning sets the stage for our firm to continue to grow through a mix of highly selective acquisitions of exceptional independent advisor businesses, combined with strong organic growth driven by our commitment to aligning the best possible resources and expertise with a boutique service model for our clients across the country.”
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 nationwide. Established in 1997, 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.