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September 19, 2018

Wealth Enhancement Group to acquire OneSource Retirement Advisors

Minnesota-based Wealth Enhancement Group has agreed to buy OneSource Retirement Advisors, a Pennsylvania-based independent financial advisory firm, 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.

OneSource currently tends to around 200 clients from its Malvern office. The company is headed by president John O’Brien and vice president Frank Ortner III.

“Wealth Enhancement Group, with its exceptional personnel, client service philosophy, and team-based approach to portfolio management, financial planning and operational support, is exactly the partner we were looking for to continue to grow our business and provide our clients with the financial clarity and confidence they deserve,” O’Brien stated.

The transaction, expected to be wrapped up in November this year, will add $276m in assets to Wealth Enhancement Group’s books. As at 31 August 2018, the Minnesota-based firm managed around $9.3bn in assets.

The deal marks Wealth Enhancement Group’s third acquisition in 2018. Earlier this year, the firm announced the acquisitions of Wisconsin-based Cimino Wealth Advisors and Florida’s Retirement Strategies.

Wealth Enhancement Group CEO Jeff Dekko said: “Our goal is not to achieve growth for its own sake, but to identify advisers who can derive the greatest possible benefits from what we can deliver to provide a superior service experience to clients in strategic markets and drive strong organic expansion in the years ahead.

“With this announcement – our eighth acquisition in recent years – we are confident that we have brought another ideal partner to our platform. We look forward to working with this exceptional team in the years ahead, and to all that we will accomplish together.”

 

 

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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