Wealth Enhancement Establishes Mark in Utah with $272M RIA

Wealth Enhancement Group, an independent wealth management firm with over $85.7 billion in client assets, has struck its third deal this month and the first in Utah with the acquisition of Farmington-based Rock House Financial, an independent RIA. The team, comprised of four financial advisors and six support staff, oversees more than $272 million in client assets.

Founded by Bob Aamodt in 1998, Rock House Financial has four financial advisors, including Nicole Roberts and Zach Nelson and six support staff. The firm “provides financial planning, asset management and charitable giving strategies to its clients and advises on qualified retirement plans for small businesses,” with clients mostly in the Wasatch Front region, which includes several Utah cities such as Salt Lake City, Ogden and Provo.

“We are excited to establish a presence in Utah through our latest partnership with Rock House Financial,” said Jeff Dekko, CEO of Wealth Enhancement Group. “Bob and his team are passionate about helping to create a more confident future for their clients, and we look forward to expanding our reach to serve more people in the Mountain West.”

Over the past few weeks, Wealth Enhancement Group announced the acquisition of Peak Financial Serivices, a $123 million Massachusetts-based hybrid RIA, and Starfox Financial Services, The Woodlands Texas-based independent RIA that manages $254 million. The firm has announced 11 deals this year.

Wealth Enhancement Group, established in 1997, has had significant growth in its assets under management, increasing from $4 billion to over $85 billion after selling a majority stake to Lightyear Capital in 2015. TA Associates acquired Lightyear Capital’s investment in 2019 while the firm was managing about $12 billion. In 2021, Onex Partners acquired ownership just as the firm’s assets exceeded $40 billion.