MINNEAPOLIS, Sept. 30, 2021 /PRNewswire/ -- Wealth Enhancement Group, an independent wealth management firm, today announced that it is joining forces with QCI Asset Management, Inc., an independent RIA based in the Rochester, N.Y., region that includes 12 financial advisors collectively overseeing $5.2 billion in client assets. Upon completion in late October, the transaction will be Wealth Enhancement Group's 13th of 2021, bringing the firm's total client assets to $52.4 billion.*
Founded in 1975 and led by President and CEO H. Edward Shill and Principal and Portfolio Manager Gerald Furciniti, QCI specializes in financial planning, wealth management, investment management and retirement consulting services for high-net-worth individuals, trusts, pension and retirement plans, corporations, higher education institutions and other non-profit clients. With 31 employees and an office in Pittsford, N.Y., the practice will be Wealth Enhancement Group's first location in Western New York.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, said, "My team and I at Wealth Enhancement Group are gratified and excited to celebrate an important milestone in our growth as we announce our new partnership with QCI. As we have built scale and momentum across the country, we have always been mindful that it is exceptional leaders like Edward Shill, Gerald Furciniti and the rest of the QCI team who make this growth possible through their strong partnership and dedication to providing world-class client service every day. In QCI, we have found a partner whose financial-planning-based client-service philosophy aligns seamlessly with our own, while the strategic investments they have made in technology and infrastructure will fit hand-in-glove with our own tools and platforms. In short, we are thrilled to bring aboard this talented and experienced team, and the future is bright for our mutual collaboration."
Jim Cahn, Wealth Enhancement Group's Chief Investments & Business Development Officer, said, "In the QCI team, we are adding a group of seasoned financial professionals whose track record of excellent client service speaks for itself. They have built a dynamic business that will only grow stronger through our partnership and support. We offer our most heartfelt welcome to Edward Shill, Gerald Furciniti and the entire team."
After the Oct. 31 close of the transaction, QCI will do business as the QCI Team of Wealth Enhancement Group. Mr. Shill and Mr. Furciniti will serve as Managing Directors and Senior Vice Presidents – Financial Advisors.
Mr. Shill said, "Over the past several years, we have aggressively invested in our technology, our offices and our workforce to build a robust infrastructure and an expanded team for the benefit of our clients. We look forward to continuing to build on our momentum by joining Wealth Enhancement Group. From our first conversations with Jeff, Jim and the entire team, we could clearly envision a future in which this strategic partnership would give us the tools to improve our business and continue our growth, while affording us more time to spend serving our clients. We look forward to hitting the ground running and continuing our success."
Berkshire Global Advisors served as exclusive financial advisor to QCI in this transaction, and DeJoy, Knauf & Blood served as a strategic business advisor to QCI. 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 $40.5 billion in client brokerage and advisory assets as of 8/31/2021. QCI Asset Management had $5.2 billion in client assets as of 7/22/2021. With the addition of previously announced acquisitions that are expected to close in October and November and the acquisition of QCI Asset Management, Wealth Enhancement Group will have $52.4 billion in client brokerage, advisory and trust assets as of November 2021.
SOURCE 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. Established in 1997, Wealth Enhancement Group uses a team approach with a focus on simplifying their clients’ financial lives and has offices nationwide.