Wealth Enhancement Acquires $164M Manwaring Wealth Management 

Wealth Enhancement Group has acquired Manwaring Wealth Management, an independent RIA based in Gilbert, AZ, overseeing more than $164 million in client assets. The transaction, finalized on July 31, 2025, enhances Wealth Enhancement’s footprint in the high-growth Phoenix market, with financial terms undisclosed. 

The team, led by founder and wealth advisor Joshua Manwaring, includes two financial advisors and two support staff members and specializes in comprehensive financial planning, retirement income strategies, tax planning, and estate planning. 

“This partnership marks a new chapter for our team and clients, allowing us to enhance resources, broaden expertise, and continue delivering the high-touch, personalized service our clients have come to trust,” said Manwaring. 

Jim Cahn, Chief Strategy Officer at Wealth Enhancement, emphasized the strategic value of the deal: “Our partnership with Manwaring Wealth Management allows us to add talent and capacity in the greater Phoenix area, a high-growth market.” 

The acquisition follows a string of 2025 deals for the private equity-backed RIA aggregator. In April, the firm announced the acquisition of the Wealth Services Division of First International Bank & Trust (FIBT). FIBT, based in Watford City, ND, manages over $581 million in client assets. 

Earlier this year, Minneapolis-based Wealth Enhancement announced two deals: XO Management, a $516 million, six-person team in Dallas, and Marcum Wealth, a Cleveland, OH-based RIA managing $4.3 billion in client assets.   

In February, the firm acquired Capstone Wealth Advisors, LLC, a $618 million advisory group with offices spanning the Pacific Northwest. With the latest additions, and previously announced acquisitions, the firm has nearly $118 billion in assets under management.