Plymouth, Minnesota-based Wealth Enhancement Group is acquiring Reby Advisors, an RIA based in Danbury, Connecticut, with about $727 million in client brokerage and advisory assets.
Upon closing, the transaction is expected to bring the number of Wealth Enhancement Group offices in the New York metro region to eight and boost its total client assets to $27.2 billion.
While the Reby Advisors headquarters are located in Danbury, it has a second location in midtown Manhattan.
Reby Advisors was founded in 1989 by Robert Reby, its CEO. It focuses on working with small-business owners, pre-retirees and retirees. The practice includes six financial advisors.
Reby Advisors specializes in investment management, along with financial, retirement, tax, education and legacy planning services. It also offers advice on income generation and Social Security and Medicare strategies.
The transaction is expected to close in the first quarter of 2021, after which the practice will do business as the Reby Advisory Teams of Wealth Enhancement Group.