Wealth Enhancement Acquires 2 RIAs, Boosting AUM to $148B
Wealth Enhancement has expanded its footprint with the addition of two registered investment advisory firms with combined assets under management of more than $426 million.
The latest addition, $108 million Bend, OR-based hybrid RIA Sherpa Wealth Strategies, was founded in 2011 and is led by founder Brian Stallcop.
Sherpa Wealth Strategies offers “personalized” retirement planning, tax strategies, wealth management, and legacy planning to high-net-worth clients.
The firm also includes two employees, which have transitioned to Wealth Enhancement following the acquisition.
Sherpa Wealth Strategies joins Wealth Enhancement’s recent acquisition of Lake Tahoe Wealth Management. The firm, which was founded in 2014 and is led by CEO Debbie Grose, oversees more than $318 million in client assets.
Lake Tahoe Wealth Management offers retirement planning, investment management, financial planning, and portfolio management to high-net-worth clients. The firm includes five members, who have also transitioned to Wealth Enhancement.
As part of the acquisitions, both firms will gain access to Wealth Enhancement’s technology, operational resources, and broader platform capabilities, the firm said.
Both RIAs joined Wealth Enhancement on April 30 and boost Wealth Enhancement’s assets under management to more than $148.2 billion, the firm said.
Lake Tahoe Wealth Management and Sherpa Wealth Strategies marks Wealth Enhancement’s 5th and 6th transactions for the year, a company spokesperson said to Connect Money.
Last month, Wealth Enhancement also added Dallas-based FullCircle Wealth, which manages more than $268 million in total client assets.
Wealth Enhancement, which was founded in 1997 and backed by private equity firms TA Associates and Onex Corp, oversees $148.2 billion in client advisory, trust and brokerage assets, including $5.9 billion in assets with the RIA Advisory Solutions Group.
Pictured: Debbie Grose (Left) and Brian Stallcop (Right)
