Wealth Enhancement Group, a national independent wealth management firm, has augmented its presence in the Lone Star state.
On Tuesday, the national independent wealth firm announced its acquisition of Starfox Financial Services, an independent RIA based in The Woodlands, Texas.
Starfox manages over $254 million in client assets and is led by founding partner and wealth advisor Jose Palafox, alongside partner and wealth advisor Bill Friebel.
Welcoming the team, Jeff Dekko, chief executive officer of Wealth Enhancement Group, underscored how the Palafox, Friebel, and the others at Starfox “[treat] their clients like family and [care] deeply for their community.
“The level of dedicated, personal attention and care they provide makes them a great fit for our firm, and I'm glad they chose to join us," Dekko said in a statement Tuesday.
Founded in 2006, Starfox Financial Services operates under the motto "Faith, Family, Finance." The firm offers a wide range of services including financial planning, retirement planning, college planning, investment management, and retirement income planning.
They also work with businesses, helping them manage their retirement plans and increase the financial literacy of their workforce.
Palafox, whose 23-year industry record began with Merrill Lynch, commented on the strategic benefits of the partnership with Wealth Enhancement Group.
"This strategic partnership aligns with our philosophy of prioritizing client focus and continuous growth,” he said. “We anticipate enhancing the resources for our clients, particularly in the areas of estate and tax planning."
Jim Cahn, chief strategy officer of Wealth Enhancement Group, highlighted the “collaborative wealth management approach to financial planning and investment management” of the Starfox team.
"The advisors at Starfox are highly credentialed, educated, and experienced,” he said. “We're excited to bring them on board, so they and their clients will have access to even more resources through our Roundtable team of specialists."
With the addition of Starfox Financial Services, Wealth Enhancement Group now has six locations in Texas, including the $1.22B Houston-based Financial Advisory Group, which it acquired in late May, and has total client assets of more than $85.3 billion.
More recently last month, the national firm added Atlas Fiduciary Financial, a $219 million fee-only firm, to its Eastern US footprint.
Despite a lighter regulatory outlook and staffing disruptions at the SEC, one compliance expert says RIA firms shouldn't expect a "free pass."
FINRA has been focused on firms and their use of social media for several years.
RayJay's latest additions bolster its independent advisor channel's presence across Pennsylvania, Florida, and Washington.
The deal ending more than 30 years of ownership by the Swiss bank includes six investment strategies representing more than $11 billion in AUM.
Divorce, widowhood, and retirement are events when financial advisors may provide stability and guidance.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
