Wealth Enhancement has taken over the investment advisory business of Servo Wealth Management, an RIA in Oklahoma City, Oklahoma.
Financial terms of the deal remain undisclosed.
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Servo Wealth Management was established in 2012 by Eric Nelson. The business oversees more than $210m in client assets.
Nelson said: “For my clients, joining the Equius Team at Wealth Enhancement is about bringing on the support and wealth management capabilities necessary to serve them through all stages of life.
“For me, personally, it’s also about reuniting with a team that was instrumental in helping me develop and grow as a financial advisor. This isn’t simply a business transaction; it’s about coming home.”
The Oklahoma-based company offers investment advice, financial planning and wealth counselling to individuals and families. Its client base includes physicians, attorneys, executives, small business owners and retirees.
Before setting up Servo Wealth Management, Nelson worked at Equius Partners in Northern California.
The deal links Nelson again with the Equius Team, which became part of Wealth Enhancement in 2023.
Wealth Enhancement CEO Jeff Dekko said: “Eric has spent decades helping clients make thoughtful decisions with their long-term success in mind. He’s earned the trust of generations of families and has been a steady presence as markets have changed.
“We’re excited to welcome Eric and his clients to Wealth Enhancement and build on the relationships he’s established over the years.”
Last month, the Financial Times reported that Carlyle and Bain Capital are competing to acquire Wealth Enhancement in a deal that could value the wealth management company at roughly $7bn, including debt.
The company has been put up for sale by its private equity owners, TA Associates and Onex.
