Latest News
Wealth Enhancement Group Acquires Maryland Financial Advisory Planning Solutions Group
Friday 14 June 2019

14 June 2019 - Minnesota, US-based wealth management firm Wealth Enhancement Group has agreed to acquire Maryland, US-based hybrid independent advisory business Planning Solutions Group, LLC, marking Wealth Enhancement's entry into the Baltimore/Washington DC area, the company said.
Financial terms of the transaction were not disclosed. The transaction is expected to close August 1, 2019.
The acquisition is the firm's twelfth since the end of 2013 and is more evidence that it is establishing itself as a national wealth management and financial planning brand through both organic growth and targeted acquisitions.
Planning Solutions Group, which also has an office in Virginia Beach, Virginia, has 28 employees, including 15 financial advisors, and focusses on developing innovative concepts for wealth creation and preservation to suit the needs of business owners, executives, retirees and high-net worth individuals.
Wealth Enhancement Group offers comprehensive and customised financial planning and investment management services nationwide, with offices in Connecticut, Florida, Iowa, Illinois, Minnesota, New York, Pennsylvania, Texas and Wisconsin.
The company is backed by Lightyear Capital, LLC, a private equity firm specialising in financial services investing,
Details
Date Published: 14/06/2019
Target: Planning Solutions Group
Country: USA
Sector: Banking/Financial Services
Type: LBO
Status: Closed
Vendor:
Buyer: Wealth Enhancement Group
Comment:
Terms of the deal were not disclosed

Options