Wealth Enhancement has expanded its network by joining forces with Ascent Private Wealth, a hybrid RIA based in Spartanburg, South Carolina.
Ascent manages more than $240 million in client assets. The company has a team of two advisors and a support staff.
His addition has increased Minneapolis-based Wealth Enhancement’s total client advisory, trust and brokerage assets to more than $132.7 billion.
The company is the fourth South Carolina location for Wealth Enhancement.
Wealth Enhancement CEO Jeff Dekko said, “Our partnership with Ascent Private Wealth reflects our continued commitment to partnering with companies that share our values and client-first mindset. We are excited about the depth of knowledge the Ascent Private Wealth team brings, particularly in serving business owners and navigating the complexities of generational wealth.”
Ascent, led by Steve Ford, was established in 2002 to provide financial planning and investment services, primarily to business owners and entrepreneurs.
Ford said, “After months of careful consideration, we determined that Wealth Enhancement was the right strategic partner for our company. Not only are they a great cultural fit, but they also bring the scale, resources and forward-thinking approach needed to elevate our services to the next level.”
Williams Private Wealth Advisory and Consulting was Ascent’s advisor on the transaction.
Earlier this month, Wealth Enhancement announced the acquisition of independent RIA AEGIS Financial, which operates in Oshkosh, Milwaukee and Appleton in the US state of Wisconsin.
The acquisition added more than $468 million in client assets to Wealth Enhancement.
Recently, the company also acquired Spectrum Wealth Management, an Irvine, California-based RIA, along with its affiliated certified public accounting firm Putman Group.
The deal added more than $182 million in client assets to the group, while adding a team consisting of an advisor, 14 financial professionals and five support staff.
“Wealth Enhancement Expands with the Addition of Ascent Private Wealth” was originally created and published by Private Banker International, a brand owned by GlobalData.
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