Wealth

Wealth Enhancement Group Scoops Up $1B California RIA Equius Partners

Wealth Enhancement Group has added a 12th office in Northern California with the acquisition of Equius Partners in San Francisco’s North Bay Area.

Equius’ team of seven financial advisors and five support staff, led by CEO Thomas Troutner, manage more than $1 billion in client assets. Founded in 1993 by partners Jeff Troutner and Phil Jonckheer, the firm is focused on a proprietary asset-class investment strategy led by Jeff Troutner.

The founders transitioned clients to a next-gen advisory team five years ago and subsequently “decided that joining a larger partner would be the optimal solution for their clients,” according to Wednesday’s announcement.

“It was important that we’d be able to maintain our investment process and client service approach, while also having access to more services for existing and future clients,” Thomas Troutner said in a statement. “We are excited about bringing Wealth Enhancement Group’s broader capabilities such as extensive financial planning resources, tax services and estate planning experts to our clients.”

“This partnership offers considerable advantages, short and long-term, to both parties,” said David DeVoe, founder and CEO of RIA M&A consultant DeVoe & Company, which advised Equius on the transaction. “Wealth Enhancement Group benefits from the Equius team’s deep insights in asset class investing. Equius gains expanded resources and opportunities for the team and their clients.”

The deal is the fourth acquisition that private equity-backed Wealth Enhancement Group has announced in 2023, following the additions of offices on the east coast and another in Northern California’s Bay Area with more than $800 million in cumulative client assets.

Established in 1997, Plymouth, Minn.-based Wealth Enhancement Group has expanded rapidly though an aggressive acquisition strategy. The hybrid RIA now comprises more than 90 offices overseeing approximately $63.8 billion in assets for more than 49,000 households.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button