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Wealth Enhancement Group Acquires $3.2B FA Practice

By Alex Padalka December 9, 2020

Wealth Enhancement Group says it has acquired another large wealth management practice.

The latest addition is Madison, Wis.-based SVA Financial Group, which is comprised of SVA Wealth Management and SVA Trust Co. and includes 22 financial advisors overseeing $3.2 billion in client assets, Wealth Enhancement says. Founded in 1974, SVA also has operations in Appleton, Milwaukee, Rockford, Ill., and Sioux Falls, S.D., and offers wealth management, trust and tax planning services to high-net-worth individuals and families, Wealth Enhancement says.

The companies didn’t disclose the financial terms of the deal, which is scheduled to close on December 31.

Wealth Enhancement Group added several large RIAs this year. In October, the company announced that it’s acquiring the $923 million 10-15 Associates. In August, Wealth Enhancement said it’s acquiring the $446 CJM Wealth Management. And in February, the company added JOYN Advisors, whose 12 financial advisors managed $1.3 billion at the time.

Wealth Enhancement Group and Wealth Enhancement Advisory Services offer securities through LPL Financial but are separate entities from LPL. Wealth Enhancement Group had more than $22 billion in client brokerage and advisory assets as of the end of November, the company says. With the close of the SVA deal, Wealth Enhancement says it expects to end the year with over $25 billion in client assets.

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Tags:  Finding and winning new clients , Client retention , Staffing and recruiting , LPL Financial , Wealth Enhancement Group

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