Wealth Enhancement Group to Acquire The Financial Advisory Group


June 12, 2024

On May 29, 2024, Wealth Enhancement Group, LLC announced it will acquire The Financial Advisory Group, LLC.

Wealth Enhancement Group (“Wealth Enhancement”) announced on May 29, 2024, that it will acquire The Financial Advisory Group (“Financial Advisory”). Richard J. Alphonso, Financial Advisory’s founder, and his team will join Wealth Enhancement. Further terms of the transaction were not disclosed.

Wealth Enhancement, based in Plymouth, Minnesota, provides wealth management services including financial planning, tax strategies, investment management, risk management & insurance, estate planning, and retirement income planning. As of April 30, 2024, Wealth Enhancement and its Registered Investment Advisor, Wealth Enhancement Advisory Services, had $80.3 billion in client assets.

Financial Advisory, based in Houston, is a registered investment advisor providing comprehensive financial advice including investment management, tax planning, family office services, and financial planning. As of December 31, 2023, Financial Advisory managed over $1.22 billion in client assets.

To read the press release: please click here.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.