Wealth Enhancement Group (WEG), a national independent wealth management firm headquartered in Minneapolis, has acquired Bohmer Kilcoyne Wealth Management, a hybrid registered investment advisor (RIA) based in Cincinnati, the company said.

Led by Mike Bohmer and John Kilcoyne, they and their team of three advisors and five support staff oversee more than $677 million in client aasets. 

“We look forward to welcoming Mike, John and their team to Wealth Enhancement Group," Jeff Dekko, CEO of WEG, said in a news release. “Mike and John each bring 26 years of industry experience, and we are keen to leverage their experience to better serve our clients.”

Founded in 2001, the Bohmer Kilcoyne team serves individuals and families, physicians, executives, business owners, nonprofit groups, retirees, and expats, the press release said. Bohmer, a principal and wealth advisor of the practice, said in the news release that he and his team were eager to partner with WEG so they could expand their service and product offerings to clients.

“Joining forces will allow us to offload administrative work and spend more time with our clients, which is our number one priority,” he said. “We’re also looking forward to leveraging the robust growth programs at Wealth Enhancement Group, helping us to serve even more clients in the years ahead.”

The news release said that WEG’s tools and expertise would both complement and enhance Bohmer Kilcoyne’s financial service suite of financial planning, wealth management, investment management, retirement income and distribution planning offerings. 

“Our partnership with Bohmer Kilcoyne Wealth Management marks our entry into a key market that connects our Midwest and East Coast presence,” Jim Cahn,  WEG chief investments amd business development officer, said in the news release. “We look forward to this collaboration and continuing our momentum.”

Financial details of the transaction were not disclosed. ECHELON Partners served as the sole financial advisor to Bohmer Kilcoyne for the transaction. 

Founded in 1997, Wealth Enhancement Group and its Registered Investment Advisor, Wealth Enhancement Advisory Services, now reports $57.3 billion in client assets under management with the addition of Bohmer Kilcoyne.