Wealth Enhancement Group, a Minneapolis-based hybrid advisory firm overseeing $56 billion in assets, announced that it has acquired Pinnacle Private Wealth, a hybrid overseeing more than $663 million in assets.
Pinnacle is based in Burlington, Massachusetts. The team of eight advisers and two staffers is led by Myles Dudley and Daniel Cotton.
Pinnacle, founded in 2009, serves high-net-worth individuals and business owners.
Other recent Wealth Enhancement Group deals include its purchase of Titus Wealth Management, a hybrid RIA overseeing $776 million, in July; a deal for Hawkins Wealth Management, an RIA managing $574 million based in North Liberty, Iowa, and Naples, Florida, in June; and the purchase of Kings Point Capital Management, a $1.7 billion advisory firm based in Great Neck, New York, also in June.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
Certain foreign banking agreements could force borrowers to absorb Section 899's potential impact, putting some lending relationships at risk.
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.
