Wealth Enhancement Group merges with Summit Wealth Advisors
Wealth Enhancement Group, an independent financial advisory firm with more than USD3.7bn in assets, has merged with Summit Wealth Advisors, a Chicago-based independent registered investment advisory (RIA) firm with nearly USD300m in assets under management.
Wealth Enhancement Group, which has 40 financial advisors, offers financial planning and investment management strategies across 40 states to affluent and high net worth retail clients. The firm also provides retirement plan advisory services for qualified and non-qualified employer-sponsored retirement plans.
The transaction establishes a physical location for Wealth Enhancement Group within Chicago, complete with a team of five professionals with extensive experience serving clients from the local high net worth community.
Going forward, the Summit Wealth Advisors team will operate under the Wealth Enhancement Group brand, and will continue to be led by Kevin Meehan, the founder of Summit Wealth Advisors and a financial services veteran with 28 years of experience, who has been named Wealth Enhancement Group's regional president, Chicago.
Jeff Dekko, chief executive officer of Wealth Enhancement Group, says: "Strategically, we are looking to partner with firms that have demonstrated a commitment to growth and see value in integrating with our proprietary marketing capabilities for new client development and creating efficiencies by utilising our centralised platform to gain investment management, planning and administrative leverage.”
Meehan says: "Since our inception, the Summit Wealth Advisors team has always placed our clients at the front and centre of our business, and so does Wealth Enhancement Group. Our decision to join forces is in every way a logical extension of the main goal shared by both firms: Delivering the best possible advice for each and every client. We're looking forward to extending our ability to give great advice to more clients throughout the Chicago area by utilising Wealth Enhancement Group's efficient centralised operations and proven marketing model. The partnership with Wealth Enhancement Group will allow us to accelerate our growth trajectory while allowing us to maintain our commitment to high quality comprehensive advice."
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