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Wealth Enhancement Group to Add $853M RIA

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Wealth Enhancement Group is acquiring RIA Serafini Financial Group, which has four financial advisors and $853 million in total client assets. The deal should close by Aug. 1 and bring WEG’s total client assets to some $39 billion.

The transaction is the LPL affiliate’s ninth purchase this year. Since June 1, the firm  which is based in the greater Minneapolis area  has added nearly 40 advisors and about $7 billion in assets to its platform via acquisitions.

Serafini is based in Hagerstown, Maryland, and was founded by Andrew A. Serafini in 1990. After the deal is wrapped up, he will work with clients as a senior vice president and advisor. 

Serafini and colleagues Douglas Nigh and Nathanael Hanft bring a total of about 75 years of industry experience to WEG. Many of their clients live in the tri-state region of Maryland, Virginia and Pennsylvania.

“The Baltimore-Washington D.C. region presents the Wealth Enhancement Group with incredible opportunities for continued growth … ,” said WEG CEO Jeff Dekko, in a statement.

“I am very pleased to welcome Andrew and his entire team to our firm, and we look forward to putting our resources, technology and scale to work to help them meet and exceed their business goals,” Dekko added.