Tag: Enhancement

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Wealth Enhancement Group Expands by Adding BFS Wealth Management, a Hybrid RIA with Over $523 Million in Client Assets

Wealth Enhancement Group Expands by Adding BFS Wealth Management, a Hybrid RIA with Over $523 Million in Client Assets

This Acquisition Grows Wealth Enhancement Group’s Existence in the Tri-State Area to 12 Places of work Across New York, Connecticut and New Jersey

MINNEAPOLIS, Dec. 15, 2022 /PRNewswire/ — Prosperity Improvement Group, a nationwide independent prosperity management organization with much more than $57.9 billion in full customer property, announced the acquisition of BFS Prosperity Administration a hybrid RIA located in Iselin, NJ. BFS Prosperity Management oversees additional than $523 million in client assets with a group of three advisors and 6 support employees, led by President John B. Burke.

“We are energized to welcome the outstanding workforce of money professionals at BFS Wealth Management to Wealth Improvement Team,” reported Jeff Dekko, Chief Executive Officer of Wealth Improvement Group. “John and the group at BFS Wealth Administration figure out the electric power of a collaborative tactic to monetary organizing, and we are keen to insert their experience and expertise to our business and increase together in the long run.”

Founded in 2005, the crew at BFS Wealth Administration has been devoted to building a variation in each their clients’ assets and lives. The workforce presents extensive prosperity management and monetary products and services to significant-internet-worthy of families in the New York Metropolitan area, as nicely as institutional consumers, business enterprise entrepreneurs and company executives who are nearing or in retirement.

Mr. Burke explained, “Our two corporations have really very similar wealth administration philosophies and enterprise values, all of which aim on delivering the very best attainable advice for each and every of our purchasers. By integrating our team’s diversity of knowledge and experience, with the methods readily available at Prosperity Enhancement Team, we believe our collective expertise will bolster the guidance we offer to our clients.”

The addition of BFS Wealth Management marks Prosperity Improvement Group’s 12th workplace site in the strategically crucial Tri-State area, encompassing New York, Connecticut and New Jersey.

Jim Cahn, Main Investments & Business enterprise Progress Officer at Wealth Enhancement Group said, “The workforce has previously shown, via their many years of progress and success, the ability to offer their shoppers an superb assistance working experience. Collaborating with us will enable them to refine and improve these capabilities further, and we are prepared to support the group accelerate their strong progress packages as element of our system.”

By way of each regular natural and repeated inorganic progress, Prosperity Improvement Group proceeds to broaden its footprint and mix the energy of a countrywide community with deep neighborhood roots across the nation.

About Wealth Improvement Team
Wealth Enhancement Group is an impartial wealth management agency presenting complete and personalized money setting up and expense management services. Now serving a lot more than 47,000 homes, the enterprise has about 85 offices nationwide and is expanding rapidly through natural and organic development and acquisitions. Established in 1997, Wealth Enhancement Team specializes in giving retail purchasers with the workforce-based mostly knowledge and means they have to have to simplify their economic life. For more facts, you should visit www.wealthenhancement.com.

Advisory solutions offered as a result of Prosperity Improvement Advisory Solutions, LLC (WEAS), a registered financial commitment advisor. Certain, but not all, financial commitment advisor representatives (IARs) of WEAS are also registered representatives of and present securities as a result of LPL Financial, Member FINRA/SIPC. Prosperity Improvement Team and Wealth Enhancement Advisory Companies are individual entities from LPL Fiscal. Wealth Improvement Team is a registered trademark of Prosperity Enhancement Group, LLC.

Prosperity Improvement Group and its Registered Expenditure Advisor, Wealth Enhancement Advisory Solutions, had $56.2 billion in client belongings, together with $4 billion of brokerage assets held at LPL Financial, as of October 31, 2022. BFS Prosperity Administration had more than $523 million in consumer assets, which include $71 million of brokerage belongings, as of August 2, 2022. With the addition of previously introduced acquisitions and the acquisition of BFS Wealth Administration, Prosperity Improvement Team has more than $57.9 billion in consumer, advisory, trust and brokerage assets.

Media Contacts
Marianne Gebhardt 
[email protected] 
(704) 409-2589

Prosek Associates, on behalf of Wealth Improvement Group
[email protected]

Supply Prosperity Enhancement Team

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Wealth Enhancement acquires Financial Management Concepts

Wealth Enhancement acquires Financial Management Concepts

Prosperity Enhancement Group has obtained Financial Administration Ideas, led by founder and president Brian Fricke.

The offer, whose economic conditions ended up not disclosed, is slated to close at the stop of this month.

Started in 1991, Florida-primarily based Money Management Concepts specialises in retirement setting up, earnings distribution techniques and low lifetime tax techniques.

The company also helps its consumers in monetary complexities connected to the care of ageing mom and dad.

The deal adds $188m of consumer belongings to Wealth Enhancement, bringing its total customer assets to more than $55.6bn.

Fricke said: “Wealth Enhancement Team understands our distinctive method and will allow us the versatility to keep on our philosophy.

“I’m psyched to associate with a organization that has the society, resources and help we will need to achieve our growth goals and carry on defining our own success.”

Following the transaction, Fricke will assume the position of senior vice president and financial advisor.

Wealth Improvement CEO Jeff Dekko mentioned: “Brian has crafted an amazing enterprise more than 31 many years in supporting non-public customers shut to retirement, or already retired, acquire economical designs that handle their prime panic — jogging out of income.

“In addition to managing a strong observe, Brian is the creator of two books and currently serves on the Board of Trustees of the LCMS Basis and the New Smyrna Beach front Hearth Pension BoardWe’re very pleased to increase Financial Administration Concepts to our ever-increasing roster of higher-top quality RIAs and glance forward to several years of collaboration.”

The offer carries on Prosperity Enhancement’s acquisition streak. Earlier this month, the firm scooped up Northern California-based mostly RIAs Napa Valley Prosperity Administration and TrueNote Investment Advisors.

Past year, it took around a number of RIA firms, like Vivid Money Management and Walnut Creek Wealth Administration. 

Commenting on the most current deal, Prosperity Enhancement Group chief investments and enterprise advancement officer Jim Cahn claimed: “The actuality that Brian and his group chose Prosperity Improvement Group is a testament to the toughness of our price proposition of enabling financial advisors to establish their organization, operate more efficiently and serve consumers extra effectively. We’re enthusiastic to get started this new partnership with such a really respected company.”

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Wealth Enhancement Group Joins Forces with Financial Management Concepts, a Fee-Only RIA with More Than $188 Million in Client Assets

Wealth Enhancement Group Joins Forces with Financial Management Concepts, a Fee-Only RIA with More Than $188 Million in Client Assets

Addition of the Central Florida Firm Raises Prosperity Improvement Group’s Complete Shopper Belongings to much more than $55.6 Billion

MINNEAPOLIS, March 30, 2022 /PRNewswire/ — Wealth Enhancement Group, an independent wealth administration agency, nowadays introduced the acquisition of Monetary Administration Concepts, located in the Orlando suburb of Wintertime Springs, Fla. Led by founder and President, Brian Fricke, CFP, the company oversees much more than $188 million in client belongings. With this hottest partnership, Prosperity Enhancement Group builds on its expansion momentum, elevating full client property to more than $55.6 billion.

Jeff Dekko, Chief Govt Officer of Prosperity Enhancement Team, explained, “Brian has developed an unbelievable business enterprise more than 31 many years in serving to non-public clientele close to retirement, or currently retired, develop fiscal plans that address their major dread — jogging out of funds. In addition to managing a sturdy follow, Brian is the creator of two publications and at present serves on the Board of Trustees of the LCMS Basis and the New Smyrna Seaside Fire Pension Board.  We’re happy to incorporate Fiscal Administration Concepts to our at any time-expanding roster of substantial-high quality RIAs and search forward to decades of collaboration.”

Economic Management Concepts, started in 1991 with a modest team of private shoppers, has grown by focusing on retirement arranging, revenue distribution procedures and minimal life time tax practices. The business also will help consumers navigate the fiscal complexities bordering the care of getting older moms and dads. They are devoted to supporting consumers go after a flexible retirement — accomplishing what they want, when they want.

“We constructed our small business on the thought that retirement can be a pretty emotional and nerve-racking time for purchasers. Our approach has aided manual our shoppers on when they can retire, how much they can spend and what they can leave driving, ” Mr. Fricke said. “Prosperity Enhancement Team understands our exclusive method and will make it possible for us the versatility to proceed our philosophy. I am energized to husband or wife with a business that has the culture, resources and guidance we require to achieve our advancement targets and proceed defining our personal results.”

Jim Cahn, Prosperity Enhancement Group’s Main Investments & Business Advancement Officer, included: “An RIA of Fiscal Management Concepts’ caliber has a good deal of choices. The simple fact that Brian and his staff chose Prosperity Improvement Group is a testomony to the strength of our value proposition of enabling financial advisors to build their enterprise, operate far more competently and provide clients much more correctly. We’re psyched to begin this new marriage with such a remarkably highly regarded organization.”

On the closing of the transaction on March 31, Mr. Fricke will provide as Senior Vice President, Fiscal Advisor.

About Prosperity Improvement Team

Prosperity Enhancement Team is a Increased Minneapolis-dependent unbiased wealth administration agency supplying complete and custom made financial preparing and investment administration providers. Started in 1997, Wealth Enhancement Group serves clients nationwide. Prosperity Enhancement Team specializes in providing retail customers with the team-centered awareness and means they have to have to simplify their financial lifetime. For a lot more info, be sure to visit www.wealthenhancement.com.

Advisory solutions supplied through Wealth Improvement Advisory Services, LLC (WEAS), a registered financial commitment advisor. Specific, but not all, expenditure advisor reps (IARs) of WEAS are also registered representatives of and supply securities through LPL Fiscal, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Improvement Advisory Expert services are individual entities from LPL Economical. Wealth Improvement Group is a registered trademark of Wealth Improvement Team, LLC.

Prosperity Enhancement Team and its Registered Expenditure Advisor, Prosperity Improvement Advisory Providers, had $54.9 billion in customer brokerage and advisory assets as of 2/28/2022. Money Management Principles had more than $188 million in client brokerage and advisory belongings as of 10/15/2021. With the addition of beforehand introduced acquisitions and the acquisition of Financial Administration Ideas, Wealth Improvement Group expects to have over $55.6 billion in consumer brokerage, advisory and believe in property as of March 31,2022.

Media Contacts
Donald Cutler
Haven Tower Group
424 317 4864
[email protected] or [email protected]

Resource Wealth Enhancement Team

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Wealth Enhancement Group Acquires Vivid Financial Management

Wealth Enhancement Group is acquiring Vivid Financial Management, a hybrid RIA based in central California with $674 million in client assets under management, the firm announced. The acquisition will push WEG’s AUM above $55 billion.

WEG CEO Jeff Dekko said the group was excited to work with the six-advisor practice “shoulder-to-shoulder” in the coming years, adding Vivid built a strong track record of planning-centered client service that brandished their reputation as a high-quality firm. In an interview with WealthManagement.com, Dekko also said the deal was indicative of WEG’s broader approach to acquisitions, and that the firm was not looking to buy firms everywhere solely for the sake of scale.

“National scale clearly matters, but we also believe local scale matters, because it creates a number of opportunities to create more team activity at a local level, and allows us to deliver business development and resources within that,” he said.

Vivid was founded in 2015, and includes three locations in Orcutt, Lompoc and Arroyo Grande, Calif. The firm was founded by Julie Darrah, Brad Boulton, Todd Woodland and Tim Miller, and its clientele includes executives, families and clients that range from physicians to dentists, educators and farmers. It offers an array of financial planning services, including tax, estate and insurance planning, as well as asset management services and retirement planning support.

With the addition of the three Vivid offices, the Minneapolis, Minn.-based WEG will now have seven outposts in California. According to Dekko, WEG began boosting its California presence in early June and July with acquisitions in the Los Angeles area (though the acquired firms had satellite offices in San Francisco). In considering how to broaden their Golden State reach, Dekko said they’d intended to mirror their approach in areas like the Northeast, where they set up shop in metro centers and branched out into the region like spokes on a wheel. Vivid became central to their California expansion, Dekko said.

“These folks came to us and they were just so good that we were ready to start that ‘spoke’ process,” he said.

WEG’s dealmaking has been prolific this year, with 16 in 2021 alone. In late September, the company announced its largest ever addition, acquiring QCI Asset Management, a 46-year-old independent RIA based in western New York, with $5.2 billion in total client assets (it was also WEG’s first acquisition in the region). The previous largest deal had been finalized earlier that same month, when WEG added the Charlotte, N.C.-based RIA Carroll Financial Associates, which had assets totaling about $4.7 billion. In August, the firm announced it was getting an investment from private equity firm Onex Corp., which became equal capital partners in WEG with TA Associates.

Dekko said WEG would likely announce more West Coast-based acquisitions soon, and also would continue its concentration on the Southeast. Helping direct the firm for the long-term was their belief that the number of transactions occurring among firms with an asset range of $500 million to $3 billion was likely to continue, but he expected at some point in the race for consolidation, aggregators would begin to consolidate themselves.

“I think that same thing is yet to come for us,” he said. “I think you’ll start to see it in 2022, and maybe 2023, you’ll start to see a little bit of that, maybe.”

Financial terms on the deal weren’t disclosed, but the deal will close on Dec. 31, with Darrah, Boulton and Miller all coming onboard as senior vice presidents and financial advisors at WEG.