Minneapolis-based Wealth Enhancement Group has announced that it will purchase a Chicago-area wealth management firm with approximately $200 million in AUM.
Wealth Enhancement Group will acquire Northfield, Ill.-based CLA Financial Advisors in a deal expected to close in the first quarter of 2017. Additional details of the acquisition were not released on Thursday.
Since being acquired by Lightyear Capital last year, Wealth Enhancement Group will have brought in a total of $1.7 billion in assets through acquisition if the deal closes as expected.
Wealth Enhancement Group, along with its RIA subsidiary Wealth Enhancement Advisory Services, now oversees nearly $6.3 billion in client brokerage and advisory assets.