WEG Acquires Serafini

September 2, 2021

On August 5, 2021, Wealth Enhancement Group LLC announced it had acquired Serafini Financial Group.

Under the terms of the agreement, Wealth Enhancement Group LLC (“WEG”) acquired Serafini Financial Group (“Serafini”). The transaction closed on August 1, 2021. Serafini’s founder Andrew A. Serafini joined WEG as Senior Vice President, Financial Advisor. Further terms of the deal were not disclosed.

WEG, based in Minneapolis, Minnesota, is an independent wealth management firm that offers financial planning and investment management services. As of August 1, 2021, WEG had approximately $39 billion in assets under management.

Serafini, based in Hagerstown, Maryland, is a hybrid registered investment advisor specializing in wealth management for high-net worth retirees and pre-retirees. As of March 17, 2021, Serafini had approximately $853 million in total client assets.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions