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July 19, 2019

Wealth Enhancement Group expands into New Jersey with new purchase

Minnesota-based Wealth Enhancement Group has forayed into New Jersey with the acquisition of AEPG Wealth Strategies.

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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
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The companies did not reveal the value of the deal.

AEPG offers a range of services including investment management, tax strategies, and retirement planning for individuals and families.

It also advises medical professionals and designs employee benefits packages for manufacturers.

The firm’s staff headcount is 27. It tends to more than 600 customers.

The takeover adds over $1bn in assets to Wealth Enhancement Group’s portfolio.

The deal is expected to be wrapped up on 1 October 2019.

As part of the deal, the AEPG team will become pension and group employee benefits specialists on the Wealth Enhancement Group Roundtable.

AEPG CEO and founder Steven Kaye will join Wealth Enhancement Group as senior vice president and managing director.

Wealth Enhancement Group CEO Jeff Dekko said: “AEPG’s exceptional track record for client service with individuals, families and business owners is a testament to their team’s ability to bring substantial value to the clients they support.

“Moreover, AEPG’s retirement plan and employee benefits services deepens the expertise we provide to business owners via our Roundtable team of specialists and advisers.”

Other recent acquisitions by Wealth Enhancement Group

Last month, the firm announced the purchase of Planning Solutions Group.

Earlier this year, Wealth Enhancement Group signed agreements to buy Wiley Group and Summit Planning Group.

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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