Wealth Enhancement Group and Farther have taken pivotal steps in their organic growth strategies as each firm announces a landmark acquisition.
On Thursday, Wealth Enhancement revealed it has acquired VanceGray Wealth Management, an independent RIA headquartered in Bangor and Ellsworth, Maine.
VanceGray, which manages over $409 million in client assets, specializes in personalized wealth planning for retirees, small business owners, and individuals pursuing financial growth.
For Wealth Enhancement, the RIA aggregator with $102.1 billion in client assets, the deal marks its debut in Maine as well as its 22nd acquisition for the 2024 calendar year.
“We are delighted to welcome Vance Gray and his exceptional team of financial professionals to Wealth Enhancement,” Jeff Dekko, chief executive officer of Wealth Enhancement, said in a statement Thursday. “Working together we will leverage our shared passion for comprehensive wealth planning while keeping our clients at the center of everything we do.”
Vance Gray, president of VanceGray Wealth Management, stated the acquisition will enhance the firm’s ability to serve its clients. “By partnering with Wealth Enhancement, we aim to amplify our resources and holistic approach to deliver even greater value to our clients,” he said.
The VanceGray partnership announcement is just the latest in a series of delayed reveals of December deals from Wealth Enhancement. In the past week alone, it also announced its acquisition of Northwest Investment Counselors in Oregon and another partnership with Danison & Associates in Ohio, both of which closed on December 31.
Meanwhile, Farther, the technology-driven wealth management firm with over $5 billion in client assets, announced its own newly inked partnership with SignalPoint Asset Management, an independent RIA managing approximately $650 million in client assets.
Based in Springfield, Missouri, with an additional office in Madison, Wisconsin, SignalPoint serves 500 families across the Midwest and represents Farther's largest deal to date.
“SignalPoint’s decision to join Farther highlights the strength of our platform and our shared vision for the future of wealth management,” Taylor Matthews, CEO and co-founder of Farther, said Wednesday.
Following the deal, SignalPoint will operate as “SignalPoint powered by Farther” and will use Farther’s proprietary technology and operational infrastructure to expand its offerings and scale its business.
Jon Timson, chief executive of SignalPoint, emphasized the alignment between the two firms, citing how its "technology and operational infrastructure align with our vision for growth."
The partnership with Signalpoint comes shortly after Farther hailed its robust recruitment record for the second half of 2024. In the last half of last year, it welcomed 23 new advisors, which the firm said helped it cross a new milestone of $5 billion in AUM.
Farther reported adding 32 advisors in the first six months of 2024, which brought it past $3 billion as of the end of June.
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