Wealth Enhancement Group swipes $658M team from Raymond James

Wealth Enhancement Group has reached a significant milestone as it gains its first foothold in Michigan.

On Tuesday, the national independent wealth management firm announced it has engaged in a partnership with Gavin Financial Group in Midland, Michigan.

Gavin Financial Group, founded in 1996, serves the Great Lakes Bay Region and beyond, managing over $658 million in client assets.

The team, led by owner and financial advisor Michael Gavin, comprises five members dedicated to providing comprehensive financial planning and investment management. With a diverse cross-section of clients including pre-retirees, retirees, and high-net-worth families, they aim to support multiple generations in their financial goals.

Prior to Wealth Enhancement Group, Gavin was affiliated with Raymond James, according to his BrokerCheck profile.

“After several years of due diligence alongside trusted consultants, advisors, and our peer group, we are excited for the clients and team of Gavin Financial Group to join the highly reputable and client-focused firm of Wealth Enhancement Group," Gavin said in a statement.

“We are delighted to announce the addition of Gavin Financial Group and expansion in the Michigan area,” Jeff Dekko, chief executive officer of Wealth Enhancement Group, “The team offers comprehensive planning to a variety of clients, and their focus on the fine details of someone's life aligns with our detailed planning approach."

Gavin Financial Group marks Wealth Enhancement Group's sixth acquisition of 2024, following its expansion to the southern US just last week with a deal for a Texas-based independent RIA managing $1.22 billion.

Before that, it extended its reach in Maryland with a hybrid RIA that had a reported $502 million book from Raymond James.