Wealth Enhancement Group says it has bought another wealth management practice in Wisconsin.
The acquisition, Madison-based Financial Wealth Management, is a hybrid RIA comprised of the father-son advisor team of founder Dan Hyland, who’s been in the industry for close to four decades, and senior vice president Kyle Hyland, Wealth Enhancement Group says. The team managed around $320 million in client assets as of December 8, offering wealth management services, including retirement and financial planning, for individuals and small businesses, Wealth Enhancement Group says.
The companies didn’t disclose the financial terms of the deal, which is expected to close in the fourth quarter.
Greater Minneapolis-based Wealth Enhancement Group has been growing aggressively through large acquisitions this year. Earlier this month, the company announced the acquisition of the $3.2 billion SVA Financial Group, also in Wisconsin, which will add three offices in Appleton, Milwaukee, and Madison to Wealth Enhancement Group’s existing Wisconsin offices in Clinton and Green Bay.
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. The addition of Financial Wealth Management will bring its assets under management to nearly $26 billion, Wealth Enhancement Group says.
Do you have a news tip you’d like to share with FA-IQ? Email us at firstname.lastname@example.org.