- Partnership Bolsters Wisconsin Footprint and Deepens Services for High-Net-Worth Clients -
MINNEAPOLIS, Minn., Dec. 8, 2020 -- Wealth Enhancement Group today announced that it is acquiring SVA Financial Group, the wealth management and trust services entities of the SVA Companies, a family of professional services companies.* SVA Financial Group has 22 financial advisors that collectively oversee $3.2 billion in client assets.**
SVA Financial Group, which is comprised of SVA Wealth Management LLC and SVA Trust Company LLC, offers wealth management, trust and tax planning services to high-net-worth individuals and families, along with investment and 401(k) plan services to small businesses. It is headquartered in Madison, Wis., and has operations in Appleton, Milwaukee, Rockford, IL, and Sioux Falls, SD, where its trust company home office is located. The acquisition of SVA Financial Group demonstrates WEG’s continued commitment to providing high-net-worth clients with holistic strategies to manage the complexity of their financial lives. The acquisition also demonstrates Wealth Enhancement Group’s continued execution on its strategy of building scale in key regions and further solidifies its position as a leading national wealth management and financial planning brand.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, “We are proud to welcome the professionals of SVA Financial Group to the Wealth Enhancement Group family. This partnership positions our firm for continued growth and leadership in providing financial planning and wealth management services, and the addition of a trust company deepens our ability to comprehensively serve high-net-worth individuals and families nationwide.”
“We look forward to adding the talented individuals from SVA Financial Group to our Roundtable™ team of specialists, as their profound experience in serving the high-net-worth market will prove invaluable to supporting continued growth for our clients and our firm alike. Their advisors share similar values to ours, combined with a shared passion for delivering an exceptional service experience. We look forward to seamlessly welcoming the financial advisors who are joining our organization and enabling them to further elevate the client experience they deliver while supporting their professional success by leveraging our industry-leading resources, platforms and technology-enabled tools.”
The SVA Wealth Management transaction is set to close on December 31, 2020. The acquisition of SVA Trust Company, a company within SVA Financial Group, will officially close in Q1 2021, subject to regulatory approval. The acquisition of SVA Financial Group does not affect the SVA Companies’ other business affiliates.
John Baltes, Chief Executive Officer and Principal of SVA said, “SVA is proud to have fulfilled the wealth management and trust needs of our clients for 25 years. We expect that joining Wealth Enhancement Group will only help serve the people we have cared so much about with greater efficiency and a heightened experience. We look forward to hitting the ground running with this highly successful organization that continues to scale its capabilities with each passing year.”
Financial terms of the transaction were not disclosed. Based on each firm’s current assets, Wealth Enhancement Group is expected to end 2020 with more than $25 billion in client assets.
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. Through its Roundtable™ team of specialists and advisors, Wealth Enhancement Group provides clients with the team-based expertise and resources they need to simplify their financial life.
For more information, please visit www.wealthenhancement.com.
Since our inception in 1974, we have focused on developing long-standing business relationships. As our clients’ businesses and personal interests have grown, we have increased our service offerings to meet their expanding needs.
Now over 45 years later, SVA and its affiliates are recognized leaders offering a wide range of professional services including audit and accounting, tax, business technology strategy and implementation, wealth management, trust and estate administration services.
The cornerstone of SVA’s core values is to serve people better, which includes our clients and our SVA team members. As SVA grows to meet the needs of our clients, our team grows not only in numbers but in business know-how, innovation and the delivery of solutions that create Measurable Results™ for our clients. Our companies succeed when our clients succeed.
SVA is headquartered in Madison, Wisconsin, and has additional offices in Milwaukee and Appleton, Wisconsin and Rockford, Illinois. www.sva.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 $22 billion in client brokerage and advisory assets as of Nov. 30, 2020.
**SVA Financial Group had approximately $3.2 billion in client advisory assets as of Dec. 1, 2020.
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Joseph Kuo / Chris Clemens
Haven Tower Group
424 317 4851 or 424 317 4854
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.