Walnut Creek Wealth Management, a $1 billion hybrid RIA, is joining Wealth Enhancement Group, a fast-growing independent wealth management firm headquarter in Minneapolis.
Walnut Creek Wealth Management, which is based in Walnut Creek, Calif., has three financial advisors. The acquisition is the 12th transaction to be completed this year by acquirer Wealth Enhancement Group. It now has $46 billion in client assets and includes four offices in California. The new firm will operate as the Walnut Creek Team of Wealth Enhancement Group.
Founded in 1992, Walnut Creek is led by CEO and Principal Bernard Smit and includes principals Damien Couture and Debbie Pursey, as well as five additional employees. The firm specializes in financial planning, wealth management and asset management for corporate executives; single, divorced and widowed women; physicians; and business owners. Additionally, it offers qualified retirement plan support for small- and medium-size businesses.
Jeff Dekko, CEO of Wealth Enhancement Group, said the West Coast is a primary focus area for the firm.