Wealth Enhancement Group, a Minneapolis-based hybrid advisory firm overseeing $57 billion in assets, said Thursday that it has acquired Sadoff Investment Management, a registered investment advisory firm managing $1.6 billion in assets.
Milwaukee, Wisconsin-based Sadoff was founded in 1978 by Ronald Sadoff. It has three advisers, Ronald, Bryan and Michael Sadoff, and three staff members.
This is Wealth Enhancement Group’s ninth deal this year, following the acquisition of $663 million Pinnacle Private Wealth in Burlington, Massachusetts, which was announced last week, and its purchase of Titus Wealth Management, a hybrid RIA overseeing $776 million, in July.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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