Minnesota-based Wealth Enhancement Group has agreed to purchase Wiley Group, a Pennsylvania-based independent financial advisory firm, for an undisclosed sum.
Established in 2009, Wiley serves around 450 households.
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Wealth Enhancement Group oversaw around $10.4bn in assets at the end of February 2019.
The acquisition adds over $300m in assets to Wealth Enhancement Group’s books.
Through the deal, the acquirer’s office count in the Philadelphia region will increase to three.
Wealth Enhancement Group will retain all 10 staff of Wiley, which is headed by Jim Wiley and Don Riley.
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By GlobalDataThe deal is expected to complete this June.
Wealth Enhancement Group CEO Jeff Dekko said: “When we began our discussions with Wiley Group, we recognised right away how well-positioned they were to drive accelerated growth by leveraging our team-based approach to financial planning, portfolio management and back-office operations – and, most importantly, that they share our commitment to exceptional client service.
“Their successful targeted marketing programmes were another indication of the strong fit between our two firms, and we look forward to incorporating their best practices into our organic marketing strategy.”
Recent acquisitions by Wealth Enhancement Group
This January, Wealth Enhancement Group agreed to take over Summit Planning Group.
Last year, Wealth Enhancement Group announced the acquisitions of Cimino Wealth Advisors, Retirement Strategies, OneSource Retirement Advisors, and GDM Advisory Group.
