Wealth Enhancement Group Expands by Adding BFS Wealth Management, a Hybrid RIA with Over $523 Million in Client Assets

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Dec 15, 2022, 08:00 ET

This Acquisition Grows Wealth Enhancement Group's Presence in the Tri-State Region to 12 Offices Across New York, Connecticut and New Jersey

MINNEAPOLIS, Dec. 15, 2022 /PRNewswire/ -- Wealth Enhancement Group, a national independent wealth management firm with more than $57.9 billion in total client assets, announced the acquisition of BFS Wealth Management a hybrid RIA located in Iselin, NJ. BFS Wealth Management oversees more than $523 million in client assets with a team of three advisors and six support staff, led by President John B. Burke.

"We are excited to welcome the outstanding team of financial professionals at BFS Wealth Management to Wealth Enhancement Group," said Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group. "John and the team at BFS Wealth Management recognize the power of a collaborative approach to financial planning, and we are eager to add their experience and knowledge to our firm and grow together in the future."

Founded in 2005, the team at BFS Wealth Management has been dedicated to making a difference in both their clients' assets and lives. The team offers comprehensive wealth management and financial services to high-net-worth families in the New York Metropolitan area, as well as institutional clients, business owners and corporate executives who are nearing or in retirement.

Mr. Burke said, "Our two firms have very similar wealth management philosophies and company values, all of which focus on delivering the best possible advice for each of our clients. 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 addition of BFS Wealth Management marks Wealth Enhancement Group's 12th office location in the strategically vital Tri-State region, encompassing New York, Connecticut and New Jersey.

Jim Cahn, Chief Investments & Business Development Officer at Wealth Enhancement Group said, "The team has already demonstrated, through their decades of growth and success, the ability to offer their clients an excellent service experience. Collaborating with us will allow them to refine and enhance those capabilities further, and we are ready to help the team accelerate their strong growth programs as part of our platform."

Through both steady organic and repeated inorganic growth, Wealth Enhancement Group continues to expand its footprint and combine the strength of a national network with deep local roots across the country.

About Wealth Enhancement Group
Wealth Enhancement Group is an independent wealth management firm offering comprehensive and customized financial planning and investment management services. Now serving more than 47,000 households, the company has over 85 offices nationwide and is expanding rapidly through organic growth and acquisitions. Founded in 1997, Wealth Enhancement Group specializes in providing retail clients with the team-based knowledge and resources they need to simplify their financial lives. 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 $56.2 billion in client assets, including $4 billion of brokerage assets held at LPL Financial, as of October 31, 2022. BFS Wealth Management had over $523 million in client assets, including $71 million of brokerage assets, as of August 2, 2022. With the addition of previously announced acquisitions and the acquisition of BFS Wealth Management, Wealth Enhancement Group has more than $57.9 billion in client, advisory, trust and brokerage assets.

Media Contacts
Marianne Gebhardt
[email protected]
(704) 409-2589

Prosek Partners, on behalf of Wealth Enhancement Group
[email protected]

SOURCE Wealth Enhancement Group