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March 17, 2022

Wealth Enhancement continues acquisition streak with double deals

Consolidator Wealth Enhancement has acquired Northern California-based RIAs Napa Valley Wealth Management and TrueNote Investment Advisors for an undisclosed sum.

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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.

Led by president and chief investment officer Kelly Crane, the acquired firms will be part of Wealth Enhancement’s InConcert Napa Valley Team.

Headquartered in St. Helena, California, the firms oversee over $400m in client assets. They also have additional offices in Walnut Creek and El Cerrito.

Founded in 1992, Napa Valley provides investment management, personalised financial planning and retirement planning for individuals, families and small businesses.

It also offers investment services for nonprofits and clients going through divorces and career changes.

In 2017, Crane bought concierge wealth management service Heritage Capital Private Asset Management.

Wealth Enhancement Group CEO Jeff Dekko said: “Kelly has built an extremely successful wealth management businesses over the past 35 years.

“His integrated view of wealth management offers clients a full spectrum of comprehensive solutions, from investment management to strategic tax planning. Instead of dealing with financial silos, his clients can efficiently optimize their entire financial life under one roof.”

The acquisitions, which furthers Wealth Enhancement’s consolidation strategy, takes its total client assets to $55.1bn.

They mark the firm’s sixth deal in California since June 2021.

Wealth Enhancement Group chief investments and business development officer Jim Cahn said: “This transaction confirms the power of our value proposition for RIA businesses of all types.

“Our successful M&A growth has been driven by our emphasis on going beyond a typical ‘one-size-fits-all’ model for our partner firms. For us, independence means we provide the innovative tools, technologies and resources. From there, we empower teams like InConcert Napa Valley to run their business as they see fit.”

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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