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.
Meanwhile, Raymond James snags Edward Jones advisor in Arizona.
New Morgan Stanley research shows retirement planning is a key area where advice is required.
ASA reacts as regulator drops no-deny policy, freeing firms and individuals to publicly dispute allegations after reaching settlements.
Joel Frank allegedly sold more than $39 million worth of investments in the Equilus Funds to more than 90 investors.
The Charity Parity Act would eliminate a costly IRA rollover requirement that blocks direct charitable transfers from workplace retirement plans.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
