Wealth Enhancement Group Continues West Coast Buying Spree, Adds $1B RIA
Wealth Enhancement Group continues its growing West Coast presence with the acquisition of $1 billion independent registered investment advisor Equius Partners, Inc.; it’s the 12th deal and the second in just a week in Northern California for the serial RIA acquirer.
Financial terms of the deal were not made available.
“By expanding our presence in important markets such as Northern California, we are better positioned to deliver exceptional service and support to our clients while living our values and fostering a culture of teamwork,” said Jeff Dekko, chief executive officer of Wealth Enhancement Group.
“We went through an exhaustive search of potential partners, and Wealth Enhancement Group checked all the right boxes,” added Chief Executive Officer of Equius Partners, Thomas (TJ) Troutner.
Seven advisors and five support staffers will join WEG through the transaction.
Plymouth, MN-based Wealth Enhancement, with more than $63.8 billion in client assets, is backed by private equity firms TA Associates and Onex Corporation. The company has made four RIA acquisitions so far this year.
DeVoe & Company served as Equius’s M&A advisor.