Minneapolis-based Wealth Enhancement Group today announced it acquired Houston-based hybrid RIA Fitzgerald Wealth Management in a transaction that closed on June 30.
Fitzgerald’s four advisors, who collectively manage $513 million, have joined Wealth Enhancement Group, and will affiliate with LPL for brokerage services.
With the acquisition, Wealth Enhancement Group’s total client assets now total approximately $37.7 billion, the company said in its announcement.
“The Houston region is one of the fastest-growing areas in the country in terms of population, economic stature and wealth,” said Jeff Dekko, CEO of Wealth Enhancement Group, in released comments. “The acquisition of Fitzgerald Wealth Management helps position Wealth Enhancement Group to serve a broader cross-section of the area’s growing number of high-net-worth investors. Michael and his team’s financial planning-driven client service model aligns closely with the approach we have long practiced, and we are thrilled to bring them to our platform while enabling ongoing seamless service for their clients. Moving forward, we are excited to put the resources, technology and scale of Wealth Enhancement Group to work to help this group further accelerate its growth trajectory.”
Jim Cahn, Wealth Enhancement Group’s chief investments and business development officer, added that Fitzgerald’s seasoned advisors and experience serving sophisticated investors will also be of benefit to his firm, which encourages its advisors to pool and share expertise to more comprehensively serve clients.
Fitzgerald Wealth Management was founded in 2011 by Michael Fitzgerald, who is joined by colleagues Richard Heard, Rachel Garza and Derek Platt. The quartet specializes in comprehensive wealth management for retirees and pre-retirees, particularly small business owners, as well as for legal, consulting and medical professionals and for senior management and executives at Houston-area public companies. Their firm now operates under the Wealth Enhancement Group name, with Fitzgerald becoming senior vice president and financial advisor.
“Joining the stellar team at Wealth Enhancement Group marks a new chapter in the history of our firm, and we look forward to continuing our track record of providing sound financial advice and excellent client service with the support of Jeff Dekko, Jim Cahn and the entire organization,” Michael Fitzgerald said in released comments. “With the additional resources available to our clients as part of Wealth Enhancement Group, we look forward to continuing our mission to provide our clients an unparalleled experience that empowers them to work toward their financial goals and live the life they want to live. Wealth Enhancement Group will be a superb strategic partner in this effort, and we look forward to years of fruitful collaboration.”
Wealth Enhancement Group has made eight acquisitions thus far in 2021, adding 35 advisors and $5.9 billion in assets since June 1 via acquisitions alone.