Wealth Enhancement has acquired Spectrum Wealth Management, an independent registered investment adviser (RIA) based in Irvine, California, US, along with its affiliated certified public accounting firm Putman Group.

The transaction will add a team comprising an adviser, 14 financial professionals, and five support staff into Wealth Enhancement, overseeing more than $182m in client assets.

Spectrum Wealth Management founder and principal Benjamin Ross Putman leads this team alongside Sanaz Afshar, Joseph Reese, and Allan Ottens.

The addition of Spectrum Wealth Management and Putman Group further extends the firm’s reach in California and increases its assets under management to over $131.2bn.

Wealth Enhancement CEO Jeff Dekko said: “Spectrum Wealth Management is an impressive and highly credentialed team.

“We’re particularly excited about their deep specialisation in tax planning, which is a critical component of our integrated wealth management model.”

Established in 2002, Spectrum Wealth Management focuses on comprehensive financial planning. Its associated tax practice, Putman Group, was founded in 1991.

The firm’s services include financial and tax planning, risk management, and investment management, working with both business clients and high-net-worth individuals.

Putman said: “We strive to help our clients prosper so they can ‘Aspire and Live Life’ to the fullest. Joining Wealth Enhancement is the next step in fulfilling and expanding that promise, giving our clients access to even greater resources and support.”

Wealth Enhancement has offices across the US, offering financial planning and investment management services.

Last month, the company acquired independent registered investment adviser (RIA) Wise Wealth for an undisclosed amount.

It is Wealth Enhancement’s 100th acquisition and adds Wise Wealth’s $464m in client assets to its existing portfolio, bringing total client assets to over $125bn.