MINNEAPOLIS, July 15, 2021 -- Wealth Enhancement Group, an independent wealth management firm, today announced that it has acquired Fitzgerald Wealth Management, an independent financial advisory practice with four advisors that collectively oversee $513 million in total client assets. Upon acquiring the Houston-based firm, Wealth Enhancement Group's total client assets have reached $37.7 billion.*
The transaction is Wealth Enhancement Group's eighth acquisition in 2021. Since June 1, the firm has added 35 advisors and more than $5.9 billion in assets to its platform via acquisitions.
Founded in 2011, Fitzgerald Wealth Management bolsters Wealth Enhancement Group's presence in the densely populated Houston market. Upon the transaction's close on June 30, Fitzgerald started doing business under the Wealth Enhancement Group brand, and its founder Michael Fitzgerald was named Senior Vice President, Financial Advisor.
Mr. Fitzgerald and his colleagues in the group, Richard Heard, Rachel Garza and Derek Platt, specialize in comprehensive wealth management for high-net worth retirees and pre-retirees. Their clients include senior management and executives of prominent Houston-area public companies, small business owners and legal, consulting and medical professionals. The majority of their clients reside in the Houston, Dallas, Austin and San Antonio markets.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "The Houston region is one of the fastest-growing areas in the country in terms of population, economic stature and wealth. The acquisition of Fitzgerald Wealth Management helps position Wealth Enhancement Group to serve a broader cross-section of the area's growing number of high-net worth investors. Michael and his team's financial planning-driven client service model aligns closely with the approach we have long practiced, and we are thrilled to bring them to our platform while enabling ongoing seamless service for their clients. Moving forward, we are excited to put the resources, technology and scale of Wealth Enhancement Group to work to help this group further accelerate its growth trajectory."
Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "The financial advisors and staff on Michael's team are an experienced, seasoned group, well versed in how to best serve the needs of sophisticated investors. We are thrilled to have them on the team and we look forward to our shared success."
As part of the transaction, the Fitzgerald group has also affiliated with LPL Financial for the brokerage-based portion of its book of business.
Mr. Fitzgerald said, "Joining the stellar team at Wealth Enhancement Group marks a new chapter in the history of our firm, and we look forward to continuing our track record of providing sound financial advice and excellent client service with the support of Jeff Dekko, Jim Cahn and the entire organization. With the additional resources available to our clients as part of Wealth Enhancement Group, we look forward to continuing our mission to provide our clients an unparalleled experience that empowers them to work toward their financial goals and live the life they want to live. Wealth Enhancement Group will be a superb strategic partner in this effort, and we look forward to years of fruitful collaboration."
Financial terms of the transaction 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 $31.8 billion in client brokerage and advisory assets as of 5/31/2021. Fitzgerald Wealth Management had $513 million in client assets as of 3/17/2021. With the closing of the previously announced transactions closing as by 7/1/2021, along with the acquisition of Fitzgerald Wealth Management, Wealth Enhancement Group has $37.7 billion in client brokerage, advisory and trust assets as of 7/1/2021.
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.