Wealth Enhancement Group, a leading independent wealth management firm, revealed on Thursday, June 13, that it is planning to acquire Planning Solutions Group, a financial advisory firm based in Howard County.
According to a press release posted on Wealth Enhancement Group’s website, the acquisition signals the company’s commitment to expanding on the densely populated area of East Coast.
The purchase also sets the Planning Solutions Group as the firm’s twelfth acquisition since the end of 2013. Among the other recent acquisitions include Summit Wealth Advisors (Chicago), HHG & Company (Darien, Conn.), Sound Financial Solutions (Houston), CLA Financial Advisors (Chicago), CPA Retirement Planning (Jacksonville), Cimino Wealth Advisors (Clinton, Wis.), Retirement Strategies, Inc., (Jacksonville), OneSource Retirement Advisors (Philadelphia), GDM Advisory Group (Philadelphia), Summit Planning Group (Green Bay, Wis.), and Wiley Group (West Conshohocken, Pa.). Over the past two years, both in 2017 and 2018, Wealth Enhancement Group’s total client assets is reported to have increased by more than $1 billion per year.
“We are thrilled to announce that Planning Solutions Group, a group of experienced advisors doing great work in the Baltimore area since 2001, is joining the Wealth Enhancement Group family. From the first time we spoke with the group’s partners, we were impressed with their passion for providing clients with the best service experience in every engagement,” said Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group. “They have had great success, and we will help them take that growth to new levels with our collaborative approach to financial planning, portfolio management and back-office operations.”
Currently, Wealth Enhancement Group has offices in Connecticut, Florida, Iowa, Illinois, Minnesota, New York, Pennsylvania, Texas and Wisconsin. The announcement regarding the acquisition of Planning Solutions Group marks the former’s first office in the Baltimore area.
“At Wealth Enhancement Group, we are trying to build a substantial operational scale, both nationally and in each market we serve. The addition of a business such as Planning Solutions Group helps us immensely along the way to that goal,” CEO Dekko added.