Minneapolis-based Wealth Enhancement Group, the registered funding advisory bought by Lightyear Capital in April 2015, has acquired the Wiley Group, a monetary planning-focused RIA in Philadephia, with $300 million in belongings underneath administration. That is Wealth Enhancement’s third deal in Philadelphia in a bid to grow to be a nationally branded RIA.
Wealth Enhancement Group has acquired 11 RIAs within the final 5 years, bringing its complete consumer belongings to $10.four billion. The RIA added Philadelphia-based OneSource Retirement Advisors and GDM Advisory Group in 2018.
Most lately, the agency purchased Summit Planning Group, a Inexperienced Bay, Wisc.-based agency with 980 shoppers and a few $500 million in belongings.
Wealth Enhancement Group has been one of many extra aggressive acquirers of RIA corporations over the previous a number of years because it was bought by Lightyear Capital in April 2015 from Norwest Fairness Companions, a Minneapolis-based center market funding agency.
Along with its acquisitions, Wealth Enhancement Group noticed natural progress of greater than $1 billion in each 2017 and 2018.
Phrases of the deal weren't disclosed.
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