WEG Adds Two Northeast Offices with $341M Hybrid RIA Acquisition

Minneapolis-based independent wealth management giant Wealth Enhancement Group has acquired First Capital Advisors Group, LLC, a hybrid RIA with two locations in Little Silver, NJ and Blue Bell, PA and $341 million in client assets.  

Led by managing partners Jim Hiles and Jeff Schulte, First Capital Advisors Group’s team of four financial advisors and six support staff will join WEG. 

“We are pleased to announce that the well-respected team at First Capital Advisors Group, LLC has chosen to join Wealth Enhancement Group,” said Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group. “We are positive that their work ethic, values, and leadership will make this partnership successful for many years to come.” 

Founded in 2015, First Capital Advisors Group, LLC offers financial planning, investment management, retirement planning, and estate planning to high-net-worth individuals, business owners, executives and medical professionals. 

The addition of First Capital Advisors Group brings Wealth Enhancement Group’s and its registered investment advisor, Wealth Enhancement Advisory Services, total assets to $70.8 billion, including $4 billion of brokerage assets held at LPL Financial, as of the start of August. 

At the start of the month, Wealth Enhancement Group announced that Neal Rubin and John Geraghty will join the firm as financial advisors, bringing approximately $900 million in assets under management and establishing its first office in Las Vegas. 

A week later, the investment firm announced additions to its leadership team. The firm promoted Brian Vnak to Chief Advisory Officer and Dawn Elmoreas to SVP of Business Process Transformation. Michelle Brownstein joined as Chief New Client Development Officer; Craig Erickson joined as SVP of Brand & Creative; and Elizabeth Hansen, CCO and Bill Rice, Chief Legal Officer, have been named as part of the executive team.