On June 2, 2022, Wealth Enhancement Group announced its acquisition of Kings Point Capital Management, LLC.
Under the terms of the transaction, Wealth Enhancement Group acquired Kings Point Capital Management, LLC (“Kings Point”), marking the fifth closed acquisition for Wealth Enhancement Group in 2022. Jack L. Salzman, Senior Managing Partner at Kings Point, will join Wealth Enhancement Group as Director of Fundamental Research. Further terms were not disclosed.
Wealth Enhancement Group, based in Greater Minneapolis, is an independent wealth management firm that offers comprehensive and customized financial planning and investment management services. Wealth Enhancement Group had over $53 billion in total client assets as of March 31, 2022.
Kings Point, based in Great Neck, New York, is an independent RIA serving wealthy individuals, families, endowments, foundations, and trusts. As of March 31, 2022, Kings Point oversaw $1.7 billion in client assets. DeVoe & Company, a consulting firm serving RIAs, supported Kings Point in the transaction.
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