Wealth Enhancement Group Buys $2.4B Hybrid RIA in South Carolina

By John Manganaro

News October 03, 2024 at 02:33 PM

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Wealth Enhancement Group has acquired FinTrust Capital Advisors, a hybrid registered investment advisor headquartered in Greenville, South Carolina.

FinTrust brings two additional office locations to Wealth Enhancement Group in Anderson, South Carolina, and Athens, Georgia, along with 14 advisors and 13 support staffers.

The FinTrust team oversees more than $2.39 billion in client assets, according to the announcement, and it is led by its chief investment officer, Allen Gillespie. The firm specializes in advanced financial planning, investment management and retirement plan services for business owners, professionals and high-net-worth families.

Jeff Dekko, CEO of Wealth Enhancement Group, cited FinTrust's "knowledgeable team" and dedication to creating "custom financial solutions tailored to clients' needs" as key drivers of the acquisition.

"It is exciting to expand our presence in the Southeast by joining forces with FinTrust Capital Advisors," Dekko said in a statement.

"Our firm was built on the premise that the best wealth management advice combines investment management guidance, advanced financial planning, and tax strategies with strong client relationships," Gillespie said. "Joining Wealth Enhancement Group allows us to strengthen that promise by tapping into their robust network of central services."

With the acquisition, Wealth Enhancement Group's national footprint now stands at 117 offices, with its advisor force overseeing nearly $95 billion in client, advisory, trust and brokerage assets.

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