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June 17, 2019 at 02:07 PM
Wealth Enhancement Group is acquiring Planning Solutions Group — a move that should add 15 advisors and $1.3 billion to its asset base, which now totals about $11.3 billion.
Minneapolis-based WEG says the deal will give it a base in the Baltimore/Washington, D.C., area. The purchase is its twelfth since late 2013. Earlier this year, the firm acquired Summit Planning Group of Green Bay, Wisconsin, and Wiley Group of West Conshohocken, Pennsylvania.
“At Wealth Enhancement Group, we are trying to build substantial operational scale, both nationally and in each market we serve. The addition of a business such as Planning Solutions Group helps us immensely along the way to that goal,” according to WEG CEO Jeff Dekko.
Financial terms of the deal were not disclosed, and the transaction should close by Aug. 1.
