Wealth Enhancement Group, a Minneapolis-based firm overseeing $57.9 billion in client assets, has acquired BFS Wealth Management a hybrid registered investment adviser overseeing $523 million based Iselin, New Jersey.
BFS was founded in 2005. A team of three advisers and six support staff, led by John B. Burke, will be making the move. Terms of the acquisition were not disclosed.
BFS will be Wealth Enhancement Group's 12th office in the tristate region of New Jersey, New York and Connecticut.
Earlier this month, Wealth Enhancement Group acquired a $237 million RIA, Ginsburg Financial Advisors, in Oakland, California. And in September, it announced deals for Bohmer Kilcoyne Wealth Management, a Cincinnati-based hybrid managing $677 million; Sadoff Wealth Management, a $1.6 billion Milwaukee RIA; and Pinnacle Private Wealth, a $663 million hybrid in Burlington, Massachusetts.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
