Wealth Enhancement Group has added a new location in Los Angeles with its acquisition of KCS Wealth Advisory, an independent registered investment advisor, the firm announced Thursday.
The deal brings Wealth Enhancement Group $373 million in assets under management and provides both firms with additional resources to enhance client services, the companies stated.
Laura Gilman and Ken Waltzer, the two founders of KCS, had managed their own individual practices since 2004 and merged their firms to form KCS Wealth Advisory in 2014.
“The combination of KCS Wealth Advisory with Wealth Enhancement Group will enable us to continue to provide superior service to our clients with even more investment and planning options,” Waltzer, managing partner of KCS, said in a statement. “At the same time, I feel confident that my clients will remain in excellent hands when I eventually retire."
Jim Cahn, chief investments and business development officer at Wealth Enhancement Group, said the team at KCS has worked hard to develop and maintain relationships with their clients.
“KCS Wealth Advisory emphasizes their mission to collaborate with clients to help them reach their financial goals, and we're excited to bring them onboard,” he said.
Advisor Growth Strategies, a consulting firm serving the RIA industry, acted as KCS Wealth Advisory's advisor on the transaction.
Wealth Enhancement Group, a national wealth management firm, oversees more than $70.5 billion in assets, serving more than 55,000 households through its 90 offices. The acquisition of KCS increases the number of its offices in California to 17.
A $141M judgment and a federal asset freeze collide over one shrinking pool
The firm's CFO and EVP of Wealth Management Solutions are the latest executives to exit the broker-dealer.
Clients are saying they would consider switching advisors if another professional offered estate planning services, according to a new Trust & Will survey.
CEO Laurel Taylor says the fintech's composable AI stack helps workers optimize dollars across Trump Accounts, 529s, 401(k)s, and other employee benefits.
The bank has swiped three private banking veterans from BNY as the city climbs the ranks of America's fastest-growing wealth hubs.
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.
