Wealth Enhancement Group today announced that it has acquired Serafini Financial Group, a Hagerstown, Md.-based hybrid registered investment advisor with $853 million in total client assets, according to a news release.

Financial terms of the transaction, which closed on August 1, were not disclosed. The firm now operates under the Wealth Enhancement Group brand, and founder Andrew Serafini has taken on the role of senior vice president and financial advisor, according to the release.

With more than 75 years of collective experience, Serafini and his colleagues Douglas Nigh and Nathanael Hanft specialize in faith-based financial planning, the release said, noting that clients typically include pre-retirees and retirees across the tristate Maryland-Virginia-Pennsylvania region.

“As we look ahead to the future of our business, we could not be more pleased to be part of Wealth Enhancement Group and to be able to partner with them as we walk our clients through the most important and complicated issues in their financial lives,” Serafini said in a statement.

Serafini's group thought Wealth Enhancement Group’s leadership team and the entire organization shared his firm's commitment to “building robust, multigenerational relationships with clients and their families by enabling them to achieve their financial goals.”

Jeff Dekko, CEO of Wealth Enhancement Group, said the Baltimore-Washington, D.C., region presents “incredible opportunities for continued growth” and the addition of Serafini Financial Group will allow the firm to provide even more robust service to clients in the area. “For more than 30 years, Andrew Serafini and his team have built an excellent reputation for client-centric holistic planning, which perfectly fits our approach to wealth management. I am very pleased to welcome Andrew and his entire team to our firm, and we look forward to putting our resources, technology and scale to work to help them meet and exceed their business goals,” he said.

The acquisition is the ninth this year for the Minneapolis-based Wealth Enhancement Group. Since June 1, the firm has acquired 38 financial advisors and added more than $6.79 billion in assets to its platform. Its client assets now exceed $39 billion.