Wealth Enhancement Buys $644M RIA in Washington

Wealth Enhancement has scooped up a Washington-based independent registered investment advisory firm that oversees more than $644 million in total client assets.   

Olympia, WA-based Weinand Financial, which was founded in 1991, is led by senior vice president and financial advisor Mike Weinand. The firm provides financial planning services, including retirement and investment planning, retirement plan services, and insurance planning. 

Weinand Financial also provides services to federal employees across Washington State who are nearing or entering retirement. 

The team includes one advisor and client service manager Jessica Crandall, and three client service associates Linda Rominski, Johnathon Carnoali, and Caileen Hill, per the firm’s page on Wealth Enhancement’s website. 

“We’ve spent more than three decades building Weinand Financial around the needs of our clients, and we were very intentional about what the next chapter should look like,” Weinand said. 

The acquisition, which closed on August 15, marks Wealth Enhancement’s 13th acquisition of the year and boosts the firm’s total assets under management to over $160 billion. 

Specific terms of the transaction were not disclosed. 

Earlier this month, Wealth Enhancement purchased Huntsville, AL-based Cloud Investments, which manages over $462 million in total client assets and marks the RIA’s entry into the Alabama market. 

Minneapolis-based Wealth Enhancement, which is led by CEO Jeff Dekko, is majority-owned by private equity shops Onex Corporation and TA Associates and has 188 offices, the firm said.