Wealth Enhancement Group acquires Financial Advisory Group to expand presence in Texas

TAGS

Wealth Enhancement Group, a leading national independent wealth management firm boasting over $81.5 billion in client assets, has announced its latest strategic move—the acquisition of The Financial Advisory Group, LLC, a reputable independent RIA based in Houston, Texas. This addition strengthens Wealth Enhancement Group’s footprint in Texas, introducing its third location in the state.

Strategic Alignment and Enhanced Client Services

The Financial Advisory Group, under the leadership of founder Richard J. Alphonso, J.D., CPA/PFS, M.S.T., AEP, has successfully managed over $1.22 billion in client assets with a team comprising seven financial advisors and 14 support members. Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, emphasized the strategic fit, stating, “We are pleased to announce the addition of Richard Alphonso and The Financial Advisory Group team to Wealth Enhancement Group. The firm’s dedication to delivering a high-quality client experience and customized financial services aligns with our firm’s goals.”

See also  Citigroup Q2 2022 net income down by 27% to $4.5bn

Founded in 1997, The Financial Advisory Group has been committed to helping clients achieve and maintain financial independence, providing comprehensive financial advice that integrates tax planning and preparation, traditional investment management, family office services, and financial planning. Over the years, the firm has carved out a niche market, offering specialized services to oral surgeons, doctors, attorneys, and business owners, while also serving family office clients comprehensively.

See also  Tata Consultancy Services helps Taiwan’s CTBC Bank in digital transformation

A New Chapter in Wealth Management

Reflecting on the partnership, Richard Alphonso shared his enthusiasm: “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. 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.”

Jim Cahn, Chief Strategy Officer of Wealth Enhancement Group, added, “We are pleased to welcome The Financial Advisory Group to our firm. Their dedication to providing comprehensive financial planning services has established them as a trusted partner to their clients, and we are excited to work with them for years to come.”

See also  Mission Wealth merges with Charles Carroll Financial Partners to expand client services and partner base

Future Prospects and Expansion

The acquisition not only enhances Wealth Enhancement Group’s service offerings but also solidifies its presence in the Texas market, where it continues to expand its influence and reach. With this strategic addition, Wealth Enhancement Group is poised to provide even more robust financial solutions to its diverse clientele, furthering its mission of delivering superior financial advice and services.

CATEGORIES
TAGS
Share This