Subject: PER
Wealth Enhancement Group Deepens Leadership Bench, Surpasses $81 Billion in Client Assets, Grows to 115 Offices Nationwide, and Leads Industry as Top RIA Acquirer
MINNEAPOLIS, April 8, 2024 /PRNewswire/ -- Wealth Enhancement Group, a national independent wealth management firm, continues to lead the industry as one of the nation's top RIA platforms. Today, the firm is announcing three key leadership appointments, continued growth in strategic markets nationwide, and the surpassing of $81 billion in client assets. Wealth Enhancement ranked #5 on Barron's list of Top 100 RIAs and has increased its ranking on the list for four consecutive years while maintaining a 97% client retention rate.1
Chief Executive Officer of Wealth Enhancement, Jeff Dekko, shared, "Reaching these significant milestones underscores our commitment to providing best-in-class financial advice and expanding our reach to serve more individuals. Our growth trajectory continues this year, and we are eager to progress forward as a leading RIA platform."
Wealth Enhancement Group Expands Executive Leadership Team
Wealth Enhancement has named three leadership roles within the organization including Chief Strategy Officer, Chief Investment Officer, and Chief Product Officer.
Jim Cahn assumes the role of Chair of the Investment Committee & Chief Strategy Officer, and previously served as Wealth Enhancement's Chief Investments & Business Development Officer. In his new role, he will continue to contribute to overall firm-level strategy, drive enhancements to the firm's investment platform, and accelerate inorganic growth activities.
Michael Fredericks joins Wealth Enhancement's executive leadership team as Chief Investment Officer. Michael's appointment reflects the firm's continued enhancement of its investment advisory platform. His primary focuses will be on driving the investment process for portfolios managed by Wealth Enhancement Advisory Services (WEAS), leading functional investment areas, and monitoring the investment landscape to ensure that financial advisors have both competitive solutions as well as the highest quality investment choices available to offer clients. He joins Wealth Enhancement from BlackRock where he served as a Managing Director and Head of Income Investing. Michael was instrumental in establishing the Multi-Asset Strategies and Solutions Group (MASS), growing it to a $32 billion platform. Michael will report to Jim Cahn, the firm's prior Chief Investments & Business Development Officer, who is now the Chair of the Investment Committee & Chief Strategy Officer.
Dan Stampf, CFP® joins Wealth Enhancement's executive leadership team as the firm's first Chief Product Officer to further elevate the importance of product and client experience. Dan is responsible for Wealth Enhancement's comprehensive offerings including advanced financial and estate planning, tax strategies and preparation, employer retirement and benefits, individual insurance, and trust services (offered through Wealth Enhancement Trust Services, LLC) and advancing the firm's already robust investment platform. Dan comes to Wealth Enhancement with a wide range of experience, from advisory services to launching and scaling new product offerings at Empower, Personal Capital, and Fisher Investments.
With the expansion of its leadership team, Wealth Enhancement demonstrates its dedication to providing best in-class investment solutions, deepening the firm's nationwide footprint, and expanding its product offerings.
Wealth Enhancement Group Leads Industry as Top RIA Acquirer and Continues Nationwide Growth
Wealth Enhancement leads the industry as the most active acquirer having announced or closed 18 acquisitions in 2023, and 2024 is off to a strong start with five transactions signed year to date.2 The firm now has 115 offices across 26 states with at least ten offices in four states: California (17), Minnesota (15), New York (11), and Florida (10).
Jim Cahn, Chief Strategy Officer of Wealth Enhancement, stated, "Our strategic focus on fostering both inorganic and organic growth continues to attract RIAs who seek to accelerate their growth by leveraging Wealth Enhancement's growth platform. Firms that join us find they can offload certain central administrative functions and devote more time to servicing existing clients and expanding their practice."
Organic growth for the firm reached record highs in 2023 - total new money from new and existing clients was up 22% from 2022. A diverse range of sources, including centralized digital marketing, partner referral programs, and advisor-generated referrals, all work together to fuel a powerful organic growth engine.
With the continued success and growth of the firm, Wealth Enhancement remains dedicated to its mission of helping clients achieve their financial goals with an unmatched level of care.
About Wealth Enhancement Group
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 Roundtabletm and UniFi processes that go far beyond the standard approach. Wealth Enhancement proudly provides unique financial plans and investment management services to over 61,000 households from its 115 offices - and growing - nationwide. For more information, please visit www.wealthenhancement.com.
1 Awarded 9/15/23, 9/19/22, 9/20/21, 9/11/20 and 9/13/18 for the one-year period ending June 30th of the ranking year. This award is based on both qualitative and quantitative factors including assets under management, revenue, regulatory record, and more.
2 Echelon: RIA M&A Fell in 2023 ? Wealth Management
Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $81.3 billion in client assets, including over $4 billion of brokerage assets held at LPL Financial, as of March 31, 2024.
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
Integrated Marketing Communications Manager
[email protected]
Prosek Partners, on behalf of Wealth Enhancement Group
[email protected]
SOURCE Wealth Enhancement Group
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