Wealth Enhancement has taken over the investment advisory operations of Arbor Capital Management, a registered investment adviser based in Anchorage and Fairbanks, Alaska.
Financial terms of the deal were not disclosed.
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The acquired business brings a team of four advisers and two support staff.
The group is headed by Matthew Kolesky, president and investment adviser representative, and Ty Schommer, principal and investment adviser representative.
The business oversees more than $345m in client assets.
Kolesky said: “For almost 30 years, Arbor Capital Management has been built on a simple principle: always put our clients first. Joining Wealth Enhancement allows us to preserve the personalized relationships and fiduciary approach our clients have come to expect. Most importantly, our clients will continue working with the same trusted team, now backed by one of the nation’s leading wealth management firms.”
Established in 1996, Arbor Capital Management works with individuals, families, business owners, retirement plans and institutional clients. Its activities include wealth management and broader financial planning delivered under a fiduciary model.
The firm’s client base extends across the US. Its work is focused on pre-retirees, retirees, company executives and business owners facing more complex financial matters. The areas it covers include investment oversight, retirement arrangements, tax matters, trust and estate issues, equity compensation and planning across generations.
Wealth Enhancement CEO Jeff Dekko said: “Arbor Capital Management has deep roots in Alaska and relationships that extend well beyond the state. For three decades, Matthew, Ty and their team have demonstrated that meaningful advice is not bound by geography. Their combination of personal connection and sophisticated planning has built an enduring advisory business, and we are proud to support its continued growth.”
After including Arbor Capital and other previously disclosed transactions, Wealth Enhancement will have more than $161.7bn in client advisory, trust and brokerage assets.
Recently, Wealth Enhancement acquired the investment advisory operations of Dickerson Jackson & Associates, a hybrid registered investment adviser based in Glen Allen, Virginia.
It is headed by managing partners Jeff Dickerson and Todd Jackson and is responsible for more than $376m in client assets.
