Wealth Enhancement Group Adds $373M LA RIA

Wealth Enhancement Group announced the acquisition of KCS Wealth Advisory, a Los Angeles-based independent registered investment advisor with about $373 million in assets.

Financial terms around the deal were not disclosed.

Formed in 2014 and led by managing partners Laura Gilman and Ken Waltzer, KCS Wealth Advisory provides estate and insurance planning, active investment management, and advisory and other services to high-net-worth individuals.

“By partnering with our firm, the team at KCS will have access to additional resources to allow the team to enhance their services while remaining committed to their clients’ long-term success,” said Jeff Dekko, CEO of Wealth Enhancement Group.

The acquisition is Plymouth, MN-based Wealth Enhancement Group’s 12th of the year. Most recently, the firm added First Capital Advisors Group, a hybrid RIA with $341 million in assets, as well as $200 million hybrid RIA Ryan Financial in July.

The addition of KCS Wealth Advisory adds another office to the Los Angeles area, increasing the number of Wealth Enhancement Group offices in California to 17. The firm manages nearly $71 billion in client assets.

Advisor Growth Strategies, a management consulting and transaction advisory firm, served as KCS Wealth Advisory’s transaction advisor.