Wealth Enhancement Group’s newest acquisition, North American Management, bolsters its ultra-high-net-worth and trust services.
Wealth Enhancement Group, a Minneapolis-based aggregator of registered investment advisors, acquired Boston-based Norh American Management with $1.75 billion in client assets, bringing WEG’s brokerage and advisory assets to $30 billion, according to an announcement.
WEG has identified Boston as a key market in its national strategy, and NAM adds a second office in the city, as well as its first Missouri location. Terms of the deal were not disclosed.
“As a firm with a long tradition of building and sustaining multi-generational client relationships, the needs of the individuals, families and institutions who entrust us with their financial future have always been paramount in our decision-making processes. Our goal in identifying a new strategic partner was not simply to join a larger platform, but to find a home for our clients that will
Wealth Enhancement Group Announces Addition of Morningstar CEO Kunal Kapoor to its Board of Directors
Appointment of Globally Recognized Industry Leader Further Advances Wealth Enhancement Group s Strategy of Investing in Executive Talent and Technology to Drive Accelerated National Growth
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MINNEAPOLIS, Feb. 23, 2021 /PRNewswire/ Wealth Enhancement Group ( WEG ), an independent wealth management firm that oversees more than $26 billion in client assets, today announced that Kunal Kapoor, CEO of Chicago-based investment research firm Morningstar, Inc., has joined its Board of Directors. The addition of one of the financial services sector s most prominent and highly regarded leaders to the firm s Board reflects Wealth Enhancement Group s unwavering focus on establishing itself as the nation s leading registered investment advisor (RIA) platform through ongoing investment in industry-leading talent and technology.