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August 12, 2021 at 11:13 AM
What You Need to Know
- Wealh Enhancement Group plans to acquire Miami-based RIA Investor Solutions.
- This will be the 10th acquisition for WEG this year, and its fourth office in Florida.
- Investor Solutions CEO Frank Armstrong will join as senior vice president, financial advisor.
Wealth Enhancement Group says it plans to acquire Investor Solutions, a Miami-based RIA with $1.1 billion in total client assets. The acquisition, to close in October, is WEG’s 10th of 2021, and its fourth office in Florida.
Upon acquiring Investor Solutions, WEG and its RIA, Wealth Enhancement Advisory Services, are expected to have more than $40 billion in total client assets, according to the firm. The Minneapolis-based firm, founded in 1997, has added 44 advisors and approximately $7.9 billion in assets to its platform via acquisitions since June 1.
Investor Solutions, which will do business under the WEG brand after the close, was founded in 1993 by CEO Frank Armstrong, who will join the new group as senior vice president, financial advisor. He’ll be joined by advisors Richard Feldman, Robert J. Gordon and Brett Fingerhut.
