Wealth Enhancement Group is continuing its rapid growth with the acquisition of Reby Advisors, an independent registered investment advisor in Danbury, Conn., with approximately $727 million in client assets, Wealth Enhancement Group announced Thursday.
Wealth Enhancement Group is a Plymouth, Minn.-based independent wealth management firm that announced two acquisitions in Wisconsin in December. The newest acquisition expands the firm in another key region and brings the number of Wealth Enhancement Group locations in the New York City metropolitan region to eight, while expanding it’s total client assets to $27.2 billion, the company said in a statement.
Founded by CEO Robert Reby in 1989, Reby Advisors focuses on working with small-business owners, pre-retirees and retirees. The practice includes six financial advisors and specializes in investment management, along with financial, retirement, tax, education and legacy planning services. It also offers advice on income generation and Social Security and Medicare strategies.
The acquisition of Reby Advisors is part of Wealth Enhancement Group’s focus on building local scale in key markets across the country, and it helps solidify the firm as a national wealth management and financial planning brand, the company said. The transaction is expected to close in the first quarter, after which the practice will do business as the Reby Advisory Teams of Wealth Enhancement Group.
Financial terms of the transaction were not disclosed.