Private equity firm-backed Wealth Enhancement Group has snapped up JOYN Advisors, an Atlanta, Georgia-based RIA, for an undisclosed sum.

The deal, slated to complete next month, will offer Wealth Enhancement Group its first location in the Atlanta area and its 32nd office.

The transaction will add around $1.3bn in assets to the acquirer’s books.

Established in 1991, JOYN focuses on Behavioral Wealth Management that is designed to aid the financial decision-making process using human psychology.

The business also offers retirement, estate and tax planning, risk management, among others. Its staff strength of 35 includes 12 financial advisers.

JOYN CEO and co-founder David Geller said: “In Wealth Enhancement Group, we have found a strong ally that shares our philosophy of serving clients as their trusted adviser and advocate.”

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In comparison, Minnesota-based Wealth Enhancement Group is a newer firm set up in 1997.

The $17bn has been on a buying spree lately, with the most recent being the acquisitions of RCL Advisors, and BPU Investment Management.

Last year, TA Associates announced a majority stake purchase in Wealth Enhancement Group from Lightyear Capital.

Wealth Enhancement Group CEO Jeff Dekko said: “JOYN has developed an outstanding team of financial professionals and innovative solutions that will benefit from our capabilities at Wealth Enhancement Group, while also augmenting our own national presence.

“We are eager to support JOYN as they work to improve the financial lives of their clients and embrace our team-based, client-centred culture.”