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March 31, 2022

Wealth Enhancement acquires Financial Management Concepts

Wealth Enhancement Group has acquired Financial Management Concepts, led by founder and president Brian Fricke.

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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.

The deal, whose financial terms were not disclosed, is slated to close at the end of this month.

Founded in 1991, Florida-based Financial Management Concepts specialises in retirement planning, income distribution strategies and low lifetime tax tactics.

The firm also assists its clients in financial complexities related to the care of ageing parents.

The deal adds $188m of client assets to Wealth Enhancement, bringing its total client assets to over $55.6bn.

Fricke said: “Wealth Enhancement Group understands our unique approach and will allow us the flexibility to continue our philosophy.

“I’m excited to partner with a firm that has the culture, resources and support we need to attain our growth objectives and continue defining our own success.”

Following the transaction, Fricke will assume the role of senior vice president and financial advisor.

Wealth Enhancement CEO Jeff Dekko said: “Brian has built an incredible business over 31 years in helping private clients close to retirement, or already retired, develop financial plans that address their top fear — running out of money.

“In addition to running a strong practice, Brian is the author of two books and currently serves on the Board of Trustees of the LCMS Foundation and the New Smyrna Beach Fire Pension BoardWe’re proud to add Financial Management Concepts to our ever-growing roster of high-quality RIAs and look forward to years of collaboration.”

The deal continues Wealth Enhancement’s acquisition streak. Earlier this month, the firm scooped up Northern California-based RIAs Napa Valley Wealth Management and TrueNote Investment Advisors.

Last year, it took over a number of RIA firms, including Vivid Financial Management and Walnut Creek Wealth Management. 

Commenting on the latest deal, Wealth Enhancement Group chief investments and business development officer Jim Cahn said: “The fact that Brian and his team chose Wealth Enhancement Group is a testament to the strength of our value proposition of enabling financial advisors to build their business, operate more efficiently and serve clients more effectively. We’re excited to start this new relationship with such a highly respected firm.”

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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