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

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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.