MINNEAPOLIS, Aug. 9, 2023 /PRNewswire/ -- Wealth Enhancement Group, a national independent wealth management firm with more than $68.1 billion in total assets under management, is rapidly becoming one of the nation's leading RIA platforms. The firm today announces leadership additions and the growth of $7.6 billion in client assets since January 1, 2023. Wealth Enhancement currently ranks 6th on Barron's list of Top 100 RIAs and has increased its ranking on the list for four consecutive years.1
Jeff Dekko, Chief Executive Officer, shared, "Wealth Enhancement has seen a remarkable amount of growth, both through M&A and organic initiatives. We are thrilled to announce the addition of exceptional new executives to our firm, whose expertise and vision will fuel our continued growth and success. With these additions, clients will benefit from a more robust and personalized service offering, while advisors gain a stronger platform for growth."
Visionary Executives Join Wealth Enhancement
Wealth Enhancement's promotions and additions to its leadership reflect the critical and growing importance of advisor teams, business process transformation, new client acquisition, and a continued commitment to sound legal and compliance principles.
Brian Vnak, CFP®, CPA, has been promoted to Chief Advisory Officer and joins Wealth Enhancement's executive leadership team. Brian has successfully onboarded many new advisor teams, now totaling over 140 teams nationwide, while championing their growth needs and further enhancing their expertise.
Dawn Elmore has been promoted to Senior Vice President of Business Process Transformation and joins Wealth Enhancement's executive leadership team. Dawn brings broad experience with high-growth companies, and her promotion reflects the firm's focus on driving efficiency and providing high-value services to clients.
Michelle Brownstein, CFP®,joins Wealth Enhancement's executive leadership team as Chief New Client Development Officer. Michelle's appointment reflects the firm's emphasis on organic growth and new client acquisition. She joins Wealth Enhancement from Empower (formerly Personal Capital) where she was instrumental in the hyper-growth of their private client offering.
Craig Ericksonhas joined Wealth Enhancement as Senior Vice President of Brand & Creative. Craig will play a crucial role in elevating the firm's brand presence, messaging, and turning Wealth Enhancement into a household name. Craig comes to the firm from Empower and has previously worked with Google, HP, Virgin America, and Edelman PR.
Elizabeth Hansen, Chief Compliance Officer, and Bill Rice, Chief Legal Officer, have also been named members of Wealth Enhancement's executive leadership team.
These visionary executives bring decades of experience, deep industry knowledge, and an unwavering dedication to nurturing a client-first mentality. Under the stewardship of its newly expanded leadership team, Wealth Enhancement is doubling down on its commitment to providing the best possible financial advice and helping clients plan for a secure financial future.
Wealth Enhancement Leads Industry as Top RIA Acquirer and Experiences Record Year-Over-Year Organic Growth
Wealth Enhancement leads the industry as the most active acquirer and onboarded eight RIAs in the first half of 2023.2 The firm welcomed Legacy Financial Planning, Washington Wealth Advisors, Prozan Financial Services, Equius Partners, Inc., New Era Financial Advisors, Inc., Heaco*ck & Jones Financial Services, Inc., Infinity Wealth Alliance, and Ryan Financial, Inc. and continues to expand its presence in strategic markets across the country.
Jim Cahn, Chief Investments & Business Development Officer of Wealth Enhancement, stated, "I am immensely proud of Wealth Enhancement's remarkable achievements in both M&A activity and organic growth. Our organic growth platform continues to entice more acquisition opportunities from growth-minded advisors. Wealth Enhancement's strategic vision, coupled with the dedication and expertise of our team, has positioned us as one of the nation's leading RIA growth platforms."
Organic growth for the firm has also reached record highs in 2023. Net flows invested by Wealth Enhancement clients in 1H23 are up +13% year-over-year. Additional new money invested by existing Wealth Enhancement clients is also up +31% year-over-year. This growth is a result of advisor-generated referrals and the firm's turnkey marketing and partner referral programs, which create a unique and powerful growth engine for advisors.
In addition, Wealth Enhancement has strong capital partners, including TA Associates and ONEX. The company recently secured an additional $250 million to further pursue its successful acquisition and organic growth strategies.
These initiatives and the addition of new executives reinforce the firm's commitment to delivering exceptional service, expanding its national footprint, and furthering its position as a trusted industry leader.
About Wealth Enhancement
Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of its clients. The firm continually seeks to perfect its craft of personalized financial planning with its team-based Roundtable™ and UniFi processes that go far beyond the standard approach. Wealth Enhancement proudly provides unique financial plans and investment management services to over 55,000 households from its 95 offices - and growing - nationwide. For more information, please visit www.wealthenhancement.com.
1 Awarded 9/19/22 for the period of 6/30/21 - 6/30/22 based on both qualitative and quantitative factors including assets under management, revenue, regulatory record, and more.
2 Echelon's RIA M&A Deal Report ™ - U.S. Wealth Management | 2Q23
Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $68.1 billion in client assets, including $4 billion of brokerage assets held at LPL Financial, as of June 30, 2023.
Advisory services offered through Wealth Enhancement Advisory Services, LLC (WEAS), a registered investment advisor. Select investment advisor representatives (IARs) of WEAS are also registered representatives of and offer securities through LPL Financial, Member FINRA/SIPC. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial. Wealth Enhancement Group is a registered trademark of Wealth Enhancement Group, LLC.
Media Contacts
Marianne Gebhardt
[emailprotected](704) 409-2589
Prosek Partners, on behalf of Wealth Enhancement Group
[emailprotected]
SOURCE Wealth Enhancement Group
