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July 18, 2019 at 09:40 AM
Wealth Enhancement Group, an independent wealth firm with $11.8 billion in client assets, is buying AEPG Wealth Strategies, a registered investment advisor with about $1 billion in assets based in Warren, N.J. The transaction is the 13th deal WEG has made in the past six years.
AEPG has 27 employees and serves more than 600 advisory and retirement plan clients, many of whom are doctors and dentists.
“Acquisitions of select independent financial advisor businesses support our national growth strategy by bringing in the talented professionals we need to serve a growing client base in diverse geographies,” according to Jeff Dekko, CEO of WEG, which includes some advisors who trade securities via LPL FInancial.
Backed by Lightyear Capital, WEG serves clients in more than 40 states. It moved to purchase a $1.3 billion group, Planning Solutions Group of Baltimore/Washington, D.C., last month.
Raymond James’ Hires
In New Orleans, Raymond James recruited a Merrill Lynch team with about $372 million in assets to its indie channel: the Henderson Hutter Group. The group was founded by Lee Henderson and George Hutter, CFP.
Also on the team are Megan Giardina; Christine Shea, financial planner; Patrick Kungl, investment associate; and Alli Eis, business operations coordinator.
The group serves retirees, “sudden wealth” clients and women investors, and has a focused niche group of energy company clients.
“What drove our search from the very beginning is what would be in the long-term best interest of our clients,” said Hutter, in a statement.
“The things we kept coming back to during our search were autonomy, flexibility, and stability. Raymond James checked all of those boxes,” added Henderson.
Also moving to Raymond James Financial Services are Austin Heberger and Gavin Lee of Pasadena, California. They operate as Arroyo Capital Partners and joined from Wells Fargo, where they have worked with $350 million in client assets.
