Wealth Enhancement Group Announces Acquisition of Investor Solutions, a Miami-Based Independent RIA with $1.1 Billion in Client Assets

MINNEAPOLIS, Minn., Aug. 12, 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced that it will acquire Investor Solutions, an independent RIA practice based in Miami, FL. Investor Solutions includes six financial advisors that collectively oversee $1.1 billion in total client assets. Upon acquiring the firm, Wealth Enhancement Group's total client assets are expected to exceed $40 billion.*

The transaction is Wealth Enhancement Group's 10th acquisition in 2021. Since June 1, the firm has added 44 advisors and approximately $7.9 billion in assets to its platform via acquisitions.

Investor Solutions will be Wealth Enhancement Group's first location in South Florida and fourth in the Sunshine State, adding to two offices in Jacksonville and one in Tampa. The practice was established in 1993 by CEO Frank Armstrong and today its leadership team includes financial advisors Richard Feldman, Robert J. Gordon, and Brett Fingerhut. The practice offers comprehensive wealth management for individuals and families as well as advisory services for retirement plans, endowments and nonprofit organizations.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "Wealth Enhancement Group has long considered South Florida to be a crucial market for expansion as we strive to build scale and a strong client service presence in key regions of the country. In Frank Armstrong and the Investor Solutions team, we have found a strong partner that possesses the ideal combination of characteristics: A nearly 30-year track record of client success and a deep desire to continue growing and developing their capabilities. These advisors are not content to rest on their laurels, and we look forward to helping them achieve the next stage in their business' growth with the benefit of Wealth Enhancement Group's resources, technology and scale."

Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "We are thrilled to add Frank Armstrong and his entire team of advisors and employees to the Wealth Enhancement Group family. They have already demonstrated, through their decades of growth and success, their ability to offer clients a top-notch service experience. Collaborating with us will only help them refine and enhance those capabilities further."

Upon closing of the transaction, Investor Solutions will do business under the Wealth Enhancement Group brand, and Mr. Armstrong will serve as Senior Vice President, Financial Advisor.

Mr. Armstrong said, "We had a wide range of choices as to which wealth management firm to partner with in order to facilitate Investor Solutions' next stage of growth, but Wealth Enhancement Group made our decision an easy one thanks to the technology, expertise and other support that Jeff Dekko, Jim Cahn and the entire organization bring to the table. We look forward to decades of continued growth and development of our ability to serve our clients with financial planning-based services as part of the Wealth Enhancement Group team."

The transaction is expected to close in October 2021. Financial terms were not disclosed.

About Wealth Enhancement Group

Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Founded in 1997, Wealth Enhancement Group serves clients nationwide. Wealth Enhancement Group specializes in providing retail clients with the team-based knowledge and resources they need to simplify their financial life. For more information, please visit www.wealthenhancement.com.

Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Certain, but not all, investment advisor representatives (IARs) of WEAS are also registered representatives of and offer securities through LPL Financial, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial. Wealth Enhancement Group is a registered trademark of Wealth Enhancement Group, LLC.

*Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $33.9 billion in client brokerage and advisory assets as of 6/30/2021. Investor Solutions had $1.1 billion in client assets as of 5/19/2021. With the closing of previously announced transactions on 7/1/2021 and 8/1/2021 and the acquisition of Investor Solutions, Wealth Enhancement Group will have $40.2 billion in client brokerage, advisory and trust assets as of October 2021.

Media Contacts
Joseph Kuo / Chris Clemens
Haven Tower Group
424 317 4851 or 424 317 4854
[email protected] or [email protected]

SOURCE Wealth Enhancement Group

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