Another registered investment advisor has been acquired by the growing nationwide Wealth Enhancement Group.
Ryan Financial Inc., a hybrid RIA located in Denver, Colorado, manages client assets of approximately $200 million. It was founded in 2000 by Robert Ryan, its CEO and is co-led by president Erik Anderson.
In joining Wealth Enhancement Group, its clients will benefit from a greater range of products and services.
"After 23 years as a private, independent firm, the partners and advisors at Ryan Financial Inc. are eager to join forces with Wealth Enhancement Group,” Ryan said. “We are aligned with the firm's values, and this partnership will allow us to offer our clients additional services through Wealth Enhancement Group's Roundtable team of specialists."
Wealth Enhancement Group has seen steady expansion during 2023n including its acquisition of New Era Financial Advisors Inc., a Minnesota-based hybrid that oversees $1.1 billion in client assets, BFS Wealth Management, a New Jersey firm overseeing $523 million, and Heacock & Jones Financial Services Inc. an independent registered investment advisor located in Iowa.
The firm now has more than 90 offices across the United States and manages more than $67.2 billion in total client assets.
"We are excited to announce that Ryan Financial, Inc. has chosen to join Wealth Enhancement Group," said Jeff Dekko, chief executive of Wealth Enhancement Group.
The firm was founded in 1997 and was acquired in 2019 by global private equity firm TA Associates, which has U.S. offices in Boston and Menlo Park. Since 2021, it has been an equal equity partner with Canadian investment firm Onex.
Commenting on the firm’s latest acquisition, Jim Cahn, chief investments and business development officer, said: "We are excited to be expanding our presence in the Denver metro area. Robert, Erik and the team will help us accelerate growth in the market."
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