Wealth Enhancement Group Buys $2.39B South Carolina Hybrid RIA
Wealth Enhancement Group has acquired FinTrust Capital Advisors LLC, a Greenville, SC-based hybrid registered investment advisor (RIA) with more than $2.39 billion in client assets.
The FinTrust team of 14 advisors and 13 support staff is led by CIO, Allen Gillespie. The firm has additional offices in Anderson, SC, and Athens, GA. Founded in 2007, FinTrust Capital Advisors offers financial planning, investment management, and retirement plan services to business owners, professionals, and high-net-worth families.
“It is exciting to expand our presence in the Southeast by joining forces with FinTrust Capital Advisors,” said Jeff Dekko, CEO of Wealth Enhancement Group. “Allen and his knowledgeable team are experienced at their craft. They create customized financial solutions tailored to their clients’ unique needs.”
The FinTrust deal builds on an active year for Wealth Enhancement Group. Last month, the independent wealth management firm acquired Levy Wealth Management Group, LLC, a hybrid RIA that manages over $1.3 billion in client assets. In July, the firm added $649 million in assets with the purchases of Rock House Financial, a Utah-based independent RIA that oversees more than $272 million in assets, Peak Financial Serivices, a $123 million Massachusetts-based hybrid RIA, and Starfox Financial Services, The Woodlands Texas-based independent RIA that manages $254 million.
Wealth Enhancement Group, founded in 1997, has expanded its assets under management from $4 billion to $94.7 billion since selling a majority share to Lightyear Capital in 2015.
Park Sutton Advisors, a Waller Helms company, served as the exclusive financial advisor to FinTrust Capital Advisors.