Wealth Enhancement buys $1.1 billion Minnesota-based hybrid

Wealth Enhancement Group, a hybrid registered investment advisor, announced Thursday it has purchased New Era Financial Advisors Inc., a Minnesota-based hybrid that oversees $1.1 billion in client assets.

Terms of the transaction were not disclosed.

New Era Financial Advisors was founded in 1982 by Donald Warner and Grant Lindaman. The firm, with offices in Wayzata and Hutchinson, has six advisors and 11 staffers, and is led by Warner, Lindaman and Shad Ketcher. New Era Financial Advisors offers asset management, wealth management, qualified retirement plan support, and financial planning to high-net-worth individuals. 

“After four decades as a private, independent firm, the partners and advisors at New Era Financial are excited about joining forces with Wealth Enhancement Group, another well-respected Minnesota firm,” Warner said in a statement. “We feel our clients will greatly benefit from the additional services and resources Wealth Enhancement Group offers as a nationwide advisory firm.”

Minneapolis-based Wealth Enhancement said the deal, its sixth this year, brings its assets to $66.5 billion. Last month, Wealth Enhancement bought Equius Partners Inc., an RIA based in suburban San Francisco with $1.1 billion in client assets.

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