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Financial Advisory  + Direct Investment  + M&As  + Wealth Management  | 
Wealth Enhancement Group Continues Buying Spree, Adds NJ-based RIA BFS Wealth Management with Over $523M in Assets

Wealth Enhancement Group Adds NJ-based RIA BFS Wealth Management with Over $523M in Assets

Wealth Enhancement Group (WEG) is expanding with the acquisition of BFS Wealth Management, a hybrid RIA with over $523 million in assets, continuing its recent buying spree of financial advisory services.

Financial terms of the deal, which is expected to close by the end of 2022, were not disclosed.

The purchase of the Iselin, NJ-based firm is WEG’s 12th in the tri-state area, and the 14th of the year, including BFS, following the purchases of BTR Capital Management in November and Ginsburg Financial Advisors three weeks ago. 

Commenting on the two firms’ similar philosophies and values, BFS President John B. Burke said, “By integrating our team’s diversity of knowledge and experience, with the resources available at Wealth Enhancement Group, we believe our collective expertise will strengthen the advice we offer to our clients.” 

The Minneapolis-based firm now has nearly $58bn in total assets, including $4bn in brokerage funds held with LPL. The firm serves high net-worth individuals and families, foundations and retirement plans. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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