Wealth Enhancement and Steward Partners have each announced new acquisitions, adding scale and entering strategic markets as deal activity across the advisory sector remains robust.
Wealth Enhancement revealed it has acquired Lake Tahoe Wealth Management, an independent registered investment advisor with approximately $318 million in client assets. The transaction closed April 30 and brings a five-person advisory team into the firm.
The California-based firm, led by CEO Debbie Grose, will integrate into Wealth Enhancement’s platform while continuing to serve its existing client base.
"We're drawn to firms that bring strong planning capabilities and help clients make confident decisions about their future, and Debbie and her team do that every day,” explained Jeff Dekko, Wealth Enhancement CEO. “Their 'planning for possibilities' mindset reflects a personal approach to advising, guiding clients through financial complexity and the life decisions that come with it."
Lake Tahoe Wealth Management, founded in 2014, serves a range of clients including business owners, professionals with equity compensation and retirees, with an emphasis on long-term planning strategies.
Meanwhile, Steward Partners announced it has acquired Jazz Wealth, marking an expansion into Florida’s Gulf Coast region. The Tampa Bay-area firm manages roughly $450 million in client assets and serves approximately 3,500 clients.
The addition of Jazz Wealth strengthens Steward Partners’ presence in a key growth market while bringing in a team known for its digital engagement and broad client reach. The firm will maintain its brand identity while leveraging Steward’s national platform and operational support. Having been previously custodied with Goldman Sachs, Jazz will continue that relationship via Goldman Sachs Advisor Solutions.
Jazz’s team includes wealth advisors Dustin Tibbitts, Eric Powell, Haley McKay-Daily Tibbitts, and Christopher Klenk.
"Most firms in this industry are still fighting over the same slice of the pie," said Scott Danner, Chief Growth Officer at Steward Partners. "Jazz went out and found a different pie entirely. They've built a practice that's younger, broader, and more digitally engaged than almost anything we've seen at this level—and they've done so without compromising their quality of service. Bringing them into the Steward family wasn't a hard call. This is exactly what the M&A Channel was built for."
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
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