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August 1, 2019

TA Associates takes over Wealth Enhancement Group

Private equity firm TA Associates has agreed to buy a majority stake in Wealth Enhancement Group from Lightyear Capital for an undisclosed amount.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Wealth Enhancement Group will retain its current management, brand and strategy post deal completion in the final quarter of 2019 while continuing to serve as a privately held and independent business.

TA Associates managing director M. Roy Burns said: “With its exceptional management team and proven track record of strong yet sustainable growth, we believe that Wealth Enhancement Group is very well-positioned to continue to drive the trend toward making objective, independent financial advice more broadly available to mass affluent and affluent investors across the country.

“Having closely collaborated with the management teams of companies across the financial services sector to help them reach their growth and value creation goals, we see a unique opportunity to align our resources with Wealth Enhancement Group to capture more of the national wealth management marketplace.”

In 2015, Lightyear acquired a majority equity stake in Minnesota-based Wealth Enhancement Group.

Lightyear managing partner Mark Vassallo said: “Since the acquisition, Wealth Enhancement Group has invested significantly in its core operating platform and made 10 geographically diverse acquisitions, increasing assets by 150%, bringing the company into six new markets and doubling the number of offices and advisers.”

Wealth Enhancement Group’s recent acquisitions include HHG & CompanyCPA Retirement Planning, and Summit Planning Group.

At the end of June 2019, Wealth Enhancement Group managed $11.8bn in assets.

The firm expects the TA Associates deal to further drive its growth.

 

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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