It's not Wealth Enhancement Group's biggest deal of 2024, but it was enough to help the RIA colossus achieve numerous milestones.
The Minneapolis-based aggregator announced its acquisition of Danison & Associates, an independent RIA based in Columbus, Ohio, with more than $82 million in client assets.
The deal revealed Friday marks Wealth Enhancement Group’s fourth location in the state and brings the firm’s total assets under management to over $103 billion.
The Columbus-based RIA, founded in 1997, serves individuals and small businesses with wealth management and financial planning services. The team includes two advisors and two support staff led by Dean Danison, president, and Tracey Danison, vice president, who together bring over 65 years of combined industry experience.
“We are so pleased that Danison & Associates is joining Wealth Enhancement,” Jeff Dekko, chief executive officer of Wealth Enhancement Group, said in a statement Friday. “With access to our centralized planning, estate, tax, and trust services, we are confident that the team will continue to thrive and achieve even greater success.”
The partnership also gives the Captrust its first foothold in a key market, said Chief Strategy Officer Jim Cahn.
“The acquisition of Danison & Associates marks Wealth Enhancement’s first office location in Greater Columbus,” he said. "We look forward to fruitful collaboration and success with the team for years to come."
Dean Danison underscored the enhanced support and resources the partnership brings to his firm.
“We are excited to begin this next chapter as we partner with Wealth Enhancement, a highly respected firm in the industry," he said. "By joining Wealth Enhancement, we will be able to expand our capabilities and receive valuable back office support that will enable us to spend even more time with our clients.”
The deal closed on December 31, and represents Wealth Enhancement Group’s 20th completed transaction in the year. Like other top RIA acquirers, it snapped up numerous billion-dollar plus firms in 2024, including South Carolina-headquartered FinTrust Capital Advisors in October, Philadelphia-based Levy Wealth Management in September, and Houston's Financial Advisory Group in May.
MyComplianceOffice's AI-assisted surveillance links employee chats on Slack and Telegram with prediction market trades as Wall Street tightens rules
Elsewhere, Raymond James absorbs a family-run practice from Commonwealth into its independent channel, while RBC welcomes a father-son tandem formerly from UBS.
Fuel-driven inflation drove the supersized adjustment, but advocates say retirees are still losing ground as trust fund insolvency nears.
State mandates and plan complexity are opening doors for financial advisors in the 401 market.
New LIMRA data reveal a stubborn advice gap that financial professionals are well-positioned to close.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
