Wealth Enhancement Group acquires JOYN Advisors
Wealth Enhancement Group, an independent wealth management firm that oversees USD17 billion in client assets, has acquired JOYN Advisors, a registered investment adviser based in Atlanta, Georgia, with approximately USD1.3 billion in client assets.
The acquisition marks Wealth Enhancement Group's first location in the Atlanta area and underscores its ability to expand strategically into growing markets across the country. The firm's robust acquisition strategy, in place since 2013, and impressive organic growth demonstrates that it is fast becoming a leading national wealth management and financial planning brand.
JOYN has 35 employees, including 12 financial advisors — eight of whom hold the Certified Financial Planner (CFP) designation. JOYN brings to Wealth Enhancement Group a specialty in Behavioral Wealth Management, an approach that leverages the psychology of human behavior to help clients make financial and life decisions with greater clarity and confidence. David Geller, Chief Executive Officer and Co-Founder of JOYN, founded the practice in 1991 with his brother Matthew, the president of JOYN. In addition to Behavioral Wealth Management, the team provides investment management and wealth management that includes retirement, estate and tax planning; risk management; as well as strategic business liquidity services. JOYN's clients also have access to a variety of custodians.
Jeff Dekko, Chief Executive Officer of Wealth Enhancement Group, says: "JOYN has developed an outstanding team of financial professionals and innovative solutions that will benefit from our capabilities at Wealth Enhancement Group, while also augmenting our own national presence. We are eager to support JOYN as they work to improve the financial lives of their clients and embrace our team-based, client-centred culture. We look forward to seeing this team catalyse the expansion of our presence in the Atlanta metro area in the near future."
David Geller says: "We are thrilled to partner with Wealth Enhancement Group, a firm whose infrastructure, technology and growth platforms enable us to take our services to new heights. Our mission is guiding investors, families and business owners on the path to achieve their financial goals. In Wealth Enhancement Group, we have found a strong ally that shares our philosophy of serving clients as their trusted advisor and advocate."
JOYN Advisors will be Wealth Enhancement Group's 32nd office. Financial terms of the transaction, which is expected to close by 1 April, 2020, were not disclosed. JOYN Advisors was represented by DeVoe & Company, a leading strategic advisor to RIAs, offering consulting, investment banking, and valuation services.