Wealth Enhancement Group to Join Forces with Carroll Financial Associates, an Independent RIA with $4.7 Billion in Client Assets

MINNEAPOLIS, Sept. 9, 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, announced today it will join forces with Carroll Financial Associates, Inc., an independent RIA headquartered in Charlotte, N.C., with 39 financial advisors that collectively oversee $4.7 billion in total client assets. Upon completing the transaction, Wealth Enhancement Group's total client assets are expected to reach $45.45 billion.*

Carroll Financial Associates is Wealth Enhancement Group's 11^th integration in 2021 and continues a steady drumbeat of strategic expansion for the firm. Since June 1, the firm has added 83 advisors and about $12.5 billion in assets to its platform, after adding nearly $7 billion in assets in 2020 and approximately $4.5 billion in 2019.

Founded in 1980 by Chairman Emeritus Larry W. Carroll and led by his son, CEO Kristopher W. Carroll, the firm has locations in Raleigh, N.C., and Rock Hill, S.C., in addition to its Charlotte headquarters. It specializes in comprehensive financial planning, retirement planning, investment management, estate planning, education planning and transition planning for clients throughout the Carolinas. Carroll Financial Associates' three offices will be Wealth Enhancement Group's first in the Carolinas, and will help position it to serve clients in the fast-growing Charlotte region, which has grown into a significant banking and finance center in recent decades, while also continuing to build a presence in the South East.

Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "The firm that Larry and Kristopher Carroll have built over the past several decades is truly a paragon of success and reflects the potential of financial planning-based business models in today's competitive wealth management marketplace. We are thrilled to bring aboard a firm of this caliber and sophistication, and we look forward to working together with the entire team as we establish our presence in the Carolinas. This partnership brings together Wealth Enhancement Group's substantial scale, resources and industry-leading technology with Carroll Financial Associates' deep knowledge of the regional market and client-service expertise to form an unbeatable combination."

Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "As Wealth Enhancement Group has grown over the years, so has our profile among the broader RIA community as the partner of choice for successful firms that are aiming even higher in terms of their client-service capabilities and growth. We are gratified that Larry and Kristopher Carroll made the decision to join with us on their journey, and we look forward to years of fruitful collaboration."

Upon close, Larry Carroll will serve as Senior Vice President, Financial Advisor and Kristopher Carroll will serve as Managing Director at Wealth Enhancement Group. As part of the transaction, the practice will be moving its brokerage assets to LPL Financial.

Kristopher Carroll said, "Since my father started the firm four decades ago, we have taken pride in serving generations of families here in the Carolinas and building close relationships with them. Looking forward, our top priority will continue to be serving our clients with integrity, and we firmly believe that joining Wealth Enhancement Group will enable our team to grow and develop in ways we could not have otherwise done. Our guiding principle has always been that the best interest of the client is the only interest that matters, and we are excited to work with Jeff, Jim and the rest of the Wealth Enhancement Group team as we further enhance our ability to serve our clients effectively and efficiently."

The transaction is set to close by November 1, 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 $38.8 billion in client brokerage and advisory assets as of 7/31/2021. Carroll Financial Associates had $4.7 billion in client assets as of 6/30/2021. With the addition of previously announced acquisitions that closed in August and are expected to close in October and the acquisition of Carroll Financial Associates, Wealth Enhancement Group will have $45.45 billion in client brokerage, advisory and trust assets as of November 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

Related Links

http://www.wealthenhancement.com

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