Wealth Enhancement Group Brings on $1.2B Texas Team
The deal to acquire the Financial Advisory Group brings the firm's total asset base to roughly $81.5 billion.
Wealth Enhancement Group says it is acquiring the Financial Advisory Group of Houston, an RIA with seven financial advisors and over $1.22 billion in client assets.
“After a 32-year career in this profession, this is the opportunity of a lifetime to continue delivering wealth management services to the next generation,” said Richard Alphonso, who founded the Financial Advisory Group in 1997.
“This partnership will allow us to enhance our clients’ experience, shift responsibilities that don’t contribute to the overall client experience, and provide professional opportunities to the next generation of professionals who serve our clients,” Alphonso explained in a statement.
The Financial Advisory Group has 14 staff members. Its clients include oral surgeons, doctors, attorneys and business owners, and the team also works with family office clients.
“The firm’s dedication to delivering a high-quality client experience and customized financial services aligns with our firm’s goals,” according to Jeff Dekko, Wealth Enhancement Group CEO.
With the addition of the Houston-based RIA, Wealth Enhancement Group now has three locations in Texas, and its total asset base is roughly $81.5 billion. Its headquarters are in Minneapolis.
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