Wealth Enhancement Group, an independent wealth management firm with $8.4 billion in client assets based in Minneapolis, has acquired Cimino Wealth Advisors, an independent financial advisory practice based in Clinton, Wis., Wealth Enhancement Group announced Wednesday.

The acquisition of Cimino, which has $494.5 million in client assets, expands Wealth Enhancement Group’s Midwest footprint.

Cimino Wealth Advisors is led by Vince Cimino, who will continue to lead the Wealth Enhancement Group Wisconsin office as a senior vice president and financial advisor. He specializes in helping clients prior to and during retirement and in estate planning. He previously served as a founding member and director of the Gateway Community Bank in Roscoe, Ill., and has worked in the field of financial management since 1992.

The move is part of Wealth Enhancement Group’s organic and inorganic growth plans, said Jeff Dekko, CEO of Wealth Enhancement Group.

Founded in 1997 and backed by Lightyear Capital LLC, a private equity firm specializing in financial services investing, Wealth Enhancement Group serves clients in more than 40 states. The acquisition marks the first Wisconsin office for Wealth Enhancement Group.