Wealth Enhancement Group, a Minneapolis-based hybrid firm managing more than $55 billion, will acquire Hawkins Wealth Management, an RIA firm managing $574 million based in North Liberty, Iowa, and Naples, Florida.
Financial terms of the acquisition weren't disclosed.
The transaction is expected to close June 30, after which the practice will do business as the Hawkins Team at Wealth Enhancement Group. This will be the firm's sixth acquisition in 2022, Wealth Enhancement said in a press release Thursday.
This latest partnership brings Wealth Enhancement Group's total client assets to more than $55.5 billion.
The acquisition of Hawkins Wealth, which was founded by Tim Hawkins in November 2012, will bring a team of six financial advisers and seven support staff to Wealth Enhancement Group and enhance its Midwest presence.
Jeff Dekko, chief executive officer of Wealth Enhancement Group, said, "Tim and Managing Partner Aaron Robertson have built a well-respected firm supporting the financial planning, tax efficiency and retirement distribution planning needs of individuals during times of transitioning wealth."
Wealth Enhancement Group’s brokerage business is affiliated with LPL Financial.
LPL Financial and Raymond James also add independent advisors from Osaic and Edward Jones in Michigan and Arizona.
The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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