Wealth Enhancement Group Kicks Off 2021 Announcing Acquisition of Reby Advisors, a Connecticut-Based RIA with $727 Million in Client Assets*

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Jan 14, 2021, 06:00 ET

MINNEAPOLIS, Jan. 14 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced its acquisition of Reby Advisors, an independent registered investment adviser (RIA) based in Danbury, Conn., with approximately $727 million in client assets*. Upon closing, the transaction is expected to bring the number of Wealth Enhancement Group locations in the New York metro region to eight, while bringing the firm's total client assets* to $27.2 billion.

Founded by CEO Robert Reby in 1989, Reby Advisors focuses on working with small business owners, pre-retirees and retirees, guiding them in sound investment strategies to fulfill their life goals while also helping them avoid costly missteps in the planning and execution of their financial plans. The practice includes six financial advisors and specializes in investment management, along with financial, retirement, tax, education and legacy planning services. It also offers advice on income generation and Social Security and Medicare strategies.

The acquisition demonstrates Wealth Enhancement Group's continued focus on building local scale in key markets across the country, and further solidifies its position as a leading national wealth management and financial planning brand. The transaction is expected to close in Q1, after which the practice will do business as the Reby Advisory Teams of Wealth Enhancement Group.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "With more than three decades providing financial counsel to their clients, the team at Reby Advisors has built a solid foundation on which to continue their growth as part of Wealth Enhancement Group. As we expand our geographic footprint in markets around the country, including the New York metro area -- encompassing the city itself as well as the New Jersey, New York and Connecticut suburbs -- we aim to make strategic investments in high-quality advisory firms whose entrepreneurial spirit and desire for constant improvement aligns with our own. Bob and his team meet these criteria, and we look forward to helping them accelerate their growth on our platform."

Mr. Reby said, "When we entered the process of identifying a strategic partner to help propel the next stage of our growth, Wealth Enhancement Group quickly rose to the top as the best overall fit for our culture and the needs of our firm – from its industry-leading technology offerings to its expertise in driving economies of scale and top-line growth. Most importantly, Wealth Enhancement Group shares our commitment to providing our clients a high-quality service experience while helping them work towards their long-term objectives. Wealth Enhancement Group's story is one of consistent success, and we are thrilled to partner with them as we start our next chapter."

Financial terms of the transaction were not disclosed. Reby Advisors was represented by Park Sutton Advisors.

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 expertise 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 more than $26.4 billion in client brokerage and advisory assets as of 12/31/2020. Reby Advisors had approximately $727 million in client brokerage and advisory assets as of 12/31/2020.

Media Contacts
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Haven Tower Group
424 317 4851 or 424 317 4854
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SOURCE Wealth Enhancement Group