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Wealth Enhancement signs deal to buy $574m RIA with Iowa and Florida presence

Wealth Enhancement Group has agreed to acquire Hawkins Wealth Management , a $574m registered investment adviser (RIA) with offices in North Liberty, Iowa, and Naples, Florida.

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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 transaction, whose financial terms were not disclosed, is expected to close on 30 June 2022.

Hawkins Wealth was founded by Tim Hawkins in 2012. The firm is said to uphold an analytical approach to financial planning and a low client-to-adviser ratio to help clients nearing retirement, selling a business or navigating other life changes.

The addition of Hawkins Wealth will bring Wealth Enhancement’s total client assets to over $55.5bn and further bolsters the firm’s Midwest presence.

Following the transaction, Hawkins Wealth’s team of six financial advisors and seven support staff will join Wealth Enhancement.

Hawkins said that the deal would allow his firm to drive growth by leveraging Wealth Enhancement’s support services and technology offerings.

Wealth Enhancement Group CEO Jeff Dekko said: “Tim and Managing Partner Aaron Robertson have built a well-respected firm supporting the financial planning, tax efficiency and retirement distribution planning needs of individuals during times of transitioning wealth.

“We are excited to have them, their more than 40 years of combined financial planning experience and Hawkins’ dedicated team of advisors join Wealth Enhancement Group.”

The deal will be Wealth Enhancement’s sixth acquisition in 2022.

Its previous acquisitions include Financial Management Concepts and Northern California-based RIAs Napa Valley Wealth Management and TrueNote Investment Advisors.

Commenting on the latest deal, Wealth Enhancement Group chief investments and business development officer Jim Cahn said: “Hawkins Wealth Management has an exceptional history of providing tailored financial planning, investment management and retirement distribution planning services for its clients. We look forward to helping them grow their business.”

Following the close of the deal, the practice will do business as the Hawkins Team at Wealth Enhancement 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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