Wealth Enhancement and Bluespring Wealth Partners have unveiled their latest independent RIA partnerships, expanding their national footprints through acquisitions in the South and Midwest.
Wealth Enhancement has acquired XO Wealth Management, a Dallas-based RIA overseeing more than $516 million in client assets. The six-person team, including three advisors, will continue operating under the names XO Team and Skyline Team within Wealth Enhancement.
Founded by Managing Director Matthew Fuller and co-led by Managing Director Stephen Valelly and First Vice President Carl Carlos, the firm provides financial planning, wealth preservation and risk management services, with a focus on high-net-worth and ultra-high-net-worth clients. According to the firm, its advisors bring more than one hundred years of combined experience to the table.
The deal, announced on Friday, marks Wealth Enhancement’s eleventh office in Texas and brings the firm’s total assets to more than $107.5 billion.
It's also the RIA giant's second deal announcement this week, following its acquisition of $4.3 billion Marcum Wealth in Cleveland.
Bluespring Wealth Partners, meanwhile, announced its acquisition of Charter Capital Management, an RIA based in Brookfield, Wisconsin. The four-advisor CCM team manages more than $400 million and is led by principals Joel Hassler and Dan Glaser.
Founded more than forty-five years ago, Charter Capital Management offers investment management, tax and financial planning, estate planning, retirement planning and debt management services.
According to the statement unveiling the deal, CCM intends to leverage Bluespring’s platform to expand its capabilities and support long-term succession planning for designated successors Alexandra Cali and Samuel Verhulst.
Bluespring, a subsidiary of Kestra Holdings, has been a failrly active player in the RIA acquisition space, targeting firms with both fee-based and hybrid models. Last month, it welcomed Kentucky-based Reliant Wealth Planning, which reportedly oversees more than $560 million in AUM.
Five low-cost index ETFs to anchor Trump Accounts as advisors weigh options against 529 and UTMA plans for clients
A bipartisan proposal aimed at aligning advisor compensation rules with modern business structures is headed to the full House.
Vanilla is extending its estate planning tech to Callan Family Office's ultra-high-net-worth business, while WealthFeed's organic growth engine will now be available to roughly 100 advisors at The Mather Group.
“We are helping families take an important first step toward building a financial foundation for the next generation,” said Franklin Templeton CEO Jenny Johnson
Richard Brothers Financial Advisors joins the fee-only RIA, adding its first Maine office and $240 million in client assets
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
