Wealth Enhancement Group announced today that it has acquired Boston-base RIA North American Management.

Under the terms of the transaction, North American Management’s leadership will remain in place and its team of 20 individuals, including nine advisors, will join Minneapolis-based Wealth Enhancement Group, Jeff Dekko, Wealth Enhancement’s CEO, told Financial Advisor.

North American Management will now do business as the North American Management Team at Wealth Management Group.

North American brings with it $1.75 billion in client assets, which will bring Wealth Enhancement Group’s expected AUM to nearly $30 billion when the transaction closes in April.

Financial terms of the transaction were not disclosed.

“There’s been a lot of acquisition activity going on, but our approach has been more refined than maybe that of some of the others: We believe local scale matters,” said Dekko. “It permits more resources for business development, and we’re committed to driving organic growth. By having local scale, you can do that. Our purpose statement starts with ‘We work together,’ and it’s hard to be a team if you’re an outpost 1,000 miles away with nobody else there.”

Dekko said that North American helps build Wealth Enhancement’s East Coast footprint, particularly in the Northeast.

Wealth Enhancement, founded in 1997, has grown into a nationwide RIA aggregator, with financial backing from Boston-based private equity firm TA Associates.

Founded in 1928, North American Management has specialized in offering wealth management, trust services and investment offerings to high- and ultra-high-net-worth families, individuals and endowments.

In North American Management, Dekko saw a firm that aligned well with Wealth Enhancement Group in the way they serve their clients. He also described the transaction as helping Wealth Enhancement Group expand its offerings towards ultra-high-net-worth families.

“They’re also very strong in their asset management, which we value,” he said. “We believe that, as the acquiring firm, we don’t have all the answers, and thus our view is that we can learn from them.”

North American will also serve to improve Wealth Enhancement Group’s multigenerational planning capabilities, Dekko said.

“As a firm with a long tradition of building and sustaining multigenerational client relationships, the needs of the individuals, families and institutions who entrust us with their financial future have always been paramount in our decision-making processes,” said Robert Scott, CEO and chairman of North American Management, in released comments. “Our goal in identifying a new strategic partner was not simply to join a larger platform, but to find a home for our clients that will last for decades to come as we work to guide them toward their financial goals.”

Wealth Management Group also announced last week that Morningstar CEO Kunal Kapoor has joined its board of directors.

“Clearly, the investment aspect of Morningstar is interesting, but there’s also fintech wrapped up in it,” said Dekko. “He’s a phenomenal leader. As we continue to build out our technology staff for ourselves, he’s valuable as a guide for me.”

Wealth Enhancement Group is focusing on technology to take more of the “science” out of financial planning through automation so that advisors can focus on the “art,” which is forming and sustaining client relationships, said Dekko. That is one main rationale behind the addition of Kapoor and, last summer, Facebook Vice President of Data Science Charles Thomas to its board of directors.