Wealth Enhancement Group, a Minneapolis-based wealth administration agency claiming greater than $57.3 billion in complete consumer property, introduced it has acquired Bohmer Kilcoyne Wealth Administration, a hybrid dealer/seller and registered funding advisor in Cincinnati, Ohio. Bohmer Kilcoyne’s workforce of three advisors and 5 help workers, led by Mike Bohmer and John Kilcoyne, will deliver greater than $677 million in consumer property to the WEG platform.
“We stay up for welcoming Mike, John and their workforce to Wealth Enhancement Group. We’re assured their strategy of understanding their purchasers’ monetary and private wants to supply tailor-made companies aligns effectively with our mission,” mentioned WEG CEO Jeff Dekko. “Mike and John every deliver 26 years of trade expertise, and we’re eager to leverage their expertise to higher serve our purchasers.”
Based in 2001, Bohmer Kilcoyne serves people and households, physicians, executives, enterprise house owners, nonprofit teams, retirees and P&G expatriates.
“We’re wanting to accomplice with Wealth Enhancement Group to increase the choices we are able to present to our consumer base,” mentioned Bohmer. “Becoming a member of forces will permit us to dump administrative work and spend extra time with our purchasers, which is our No. 1 precedence. We’re additionally wanting ahead to leveraging the sturdy progress applications at Wealth Enhancement Group, serving to us to serve much more purchasers within the years forward.”
Bohmer Kilcoyne’s complete monetary planning, wealth administration, funding administration, retirement earnings and distribution planning choices shall be enhanced by Wealth Enhancement Group’s instruments and experience, in line with the announcement.
“Our partnership with Bohmer Kilcoyne Wealth Administration marks our entry right into a key market that connects our Midwest and East Coast presence,” mentioned Jim Cahn, head of investments and enterprise growth for WEG. “We stay up for this collaboration and persevering with our momentum.”
Echelon Companions, a boutique funding financial institution and marketing consultant specializing in M&A and succession planning for the wealth and funding administration industries, served as monetary advisor to Bohmer Kilcoyne by the transaction.
“The founding companions of Bohmer Kilcoyne are younger, which underscores the development that many offers today are accomplished not for retirement however to change into a part of a workforce and to contribute to the expansion of a corporation by combining capabilities of the vendor with the capabilities of the customer,” mentioned Echelon CEO Daniel Seivert. “The byproduct is that each corporations are higher suited to progress.”
Based in 1997, Wealth Enhancement Group affords custom-made monetary planning and funding administration companies to purchasers nationwide. Whereas recommendation is obtainable by its RIA, Wealth Enhancement Advisory Providers, a few of the agency’s funding advisor representatives are additionally registered representatives of and provide securities by LPL Monetary.
On the finish of August this 12 months, WEG and WEAS had $54.4 billion in consumer property, together with $4 billion in brokerage property. Bohmer Kilcoyne had greater than $677 million in consumer property as of Might. With the addition of beforehand introduced acquisitions and the acquisition of Bohmer Kilcoyne, WEG now has greater than $57.3 billion in consumer, advisory, belief and brokerage property, serving greater than 45,500 households from 75 places of work across the nation.