Minneapolis-based Wealth Enhancement Group announced today that it has acquired Oakwood Capital Management, a Los Angeles-based RIA. The acquisition brings to Wealth Enhancement Group another $1.04 billion in AUM, raising its total client assets above $37 billion, according to the announcement.

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Wealth Enhancement Group is a Greater Minneapolis-based independent wealth management firm offering comprehensive and customized financial planning and investment management services. Established in 1997, Wealth Enhancement Group uses a team approach with a focus on simplifying their clients’ financial lives and has offices nationwide.