Wealth Enhancement Group has expanded its footprint in Massachusetts with the acquisition of Peak Financial Services, a hybrid registered investment advisor that oversees more than $123 million in client assets, according to a news release.

The Northborough-based RIA is the fourth location in the state for Minneapolis-based Wealth Enhancement Group, which now has a total of $85.4 billion in client assets.

Founded in 1995, Peak Financial Services is led by president Kevin O'Brien. The firm has been providing wealth management services in central Massachusetts and other parts of the nation for 29 years, the release said, noting that it has experience in working with clients who are at or near retirement, as well as with executives of high-tech and biotechnology companies.

“After entertaining numerous offers from prominent, national RIA firms, we chose Wealth Enhancement Group as our approaches to client service, investment disciplines and philosophies, and comprehensive wealth management are well aligned," O’Brien said in a statement. “We are excited to be able to expand the offerings available to our clients."

Jeff Dekko, chief executive officer of Wealth Enhancement Group, said the firm is “confident Peak Financial Services will be an excellent partner, given their integrated approach to wealth management and their focus on client relationships built on trust.”

Wealth Enhancement Group, founded in 1997, provides financial planning and investment management services to more than 61,000 households and 115 offices nationwide.